Tokio Marine & Nichido Fire enters Cambodian marketAugust 24 2017 by InsuranceAsia News Staff
Tokio Marine & Nichido Fire Insurance has set up in Cambodia’s fledgling insurance market.
The Japanese insurer has now established a representative office in the capital Phnom Penh.
The office will allow the core unit of Tokio Marine Holdings to introduce local partner insurance companies to Japanese firms with presence in the South-East Asian nation such that they can have access to its insurance services.
Until recently, it had to serve such Japanese firms via its Thai unit.
The rising number of Japanese companies operating in Cambodia, fed by escalating labour costs in nearby countries, prompted the insurer to set up the new office.
Based on current plans, Tokio Marine will commence its Cambodian operations by the end of the year.
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