Information from the Insurance Supervision Management Department (Ministry of Finance) said that as of 11:00 a.m. on July 22, 2025, the total compensation and insurance payment related to human and property damage in the Vinh Xanh 58 ship capsize is estimated by insurance companies at about 14.27 billion VND.
The life insurance group accounts for the largest proportion with a total estimated payment of up to 10.07 billion VND. In which: Generali 4.2 billion VND, Manulife 3.02 billion VND, Bao Viet 2 billion VND, Dai-ichi 0.7 billion VND, Prudential 0.1 billion VND and AIA 0.05 billion VND.
Insurance companies have proactively contacted customers who participate in life insurance contracts affected by accidents to make payment of benefits according to regulations. Currently, because most victims or relatives are undergoing disability treatment or are worried about funeral arrangements, it is not possible to complete all documents to receive insurance benefits.
For non-life insurance, the total estimated compensation is about 4.2 billion VND. Of which, the civil liability insurance contracts of ship owners for passengers and crew accident insurance implemented by Bao Long Insurance Company are expected to pay about 1.2 billion VND.
In particular, passenger accident insurance is co-insured by Bao Viet, PTI, MIC and BSH, with an estimated payment of VND2 billion. In addition, AAA Insurance Company participated in a credit insurance contract for a ship operator, with an expected compensation of VND1 billion.
Other insurance companies continue to proactively review customer information and will immediately carry out procedures to resolve insurance compensation and insurance payments (if any).
Previously, immediately after receiving information about the Gulf of Xanh 58 shipwreck on July 19, July 21, the Insurance Management and Supervision Department issued an official dispatch 896/QLBH-PNT to the Vietnam Insurance Association and insurance companies requesting insurance companies to proactively coordinate with relevant agencies, organizations and individuals to determine the damage to people and property of insurance companies and insurance participants; immediately implement compensation, compensation and full payment of insurance quickly, promptly and fully to insurance buyers and beneficiaries according to the agreement in the insurance contract and legal regulations.
At the same time, it is recommended that the Vietnam Insurance Association coordinate with insurance companies to organize humanitarian assistance according to internal regulations and relevant legal regulations.
