Vietnam insurers expect $63.55mn in claims after storms Bualoi, Matmo

The Ministry of Finance's Department of Insurance Management and Supervision said seven life insurance cases have been reported, with an estimated payout of VND745 million ($28,284). 

Non-life insurers have received 3,746 claims, including more than 1,000 technical property cases and 2,650 motor vehicle claims. 

Estimated compensation for non-life insurance totals nearly VND1.674 trillion.

"Most of the losses are in property and motor insurance," the ministry said, adding that firms are still receiving damage reports.

Deputy Agriculture Minister Nguyen Hoang Hiep said the country has experienced 20 types of natural disasters so far this year, including 11 storms. 

Six storms directly hit Vietnam, resulting in 238 deaths, nearly 400 injuries, and major infrastructure damage.

Estimated economic losses total VND35 trillion ($1.33 billion), excluding costs related to flooded vehicles and urban flooding, he said.