Cambodian insurers growing at 20%August 11 2015 by InsuranceAsia News Staff
Cambodia’s insurance industry posted a 20% growth in total premiums to US$32.2 million in the first half of this year from a year earlier, official data show.
According to the Insurance Association of Cambodia, the country’s fledgling insurance industry benefited from the better economic situation and greater inflows of foreign direct investment during the first six months of 2015.
The association added that the first-half premium growth mainly came from fire, engineering, marine cargo, motor vehicles, health and personal accident policies.
According to a report by Xinhua news agency, Cambodia has 11 insurers, including eight general insurance firms and three life insurance companies.
Cambodia requires insurance firms to have minimum capital of US$7 million. During the first half, Cambodia’s insurance industry earned a total premium of US$26.8 million.
- December 6
The Japanese company's joint venture with Newa Insurance has officially launched this week.
- November 23
Expansion is possible for the Malaysian insurer next year.
- July 4
The agreement was signed in time for the inauguration of Amret’s new headquarters in Phnom Penh.
- June 22
The agreement with Sathapana Bank was signed at a ceremony attended by the finance ministry and central bank.