On 25 August 2015, the MoF issued Letter 11640/BTC-CDKT responding to Letter 119/HHBH/2015 of the Vietnam Insurance Association. In accordance with Letter 11640 of the MoF, life insurance companies are asked to continue applying the current accounting regime applicable for life insurance companies in Vietnam in accordance with Decision
1296 and Decision 150 in 2015. As a result, life insurance companies will not be required to apply Circular 200 in 2015. Life insurance companies will apply the new accounting regime in accordance with Circular 199 from 1 January 2016.
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