News

Insurance Regulator of Cambodia (IRC) director-general Bou Chanphirou on January 12 urged banks, other financial institutions and insurance companies to cooperate in bancassurance to drive further growth in the insurance sector, and raise penetration and density. ...

The Ministry of Economy and Finance has approved in-principle revisions to a draft sub-decree on insurance, as the industry continues its current growth trajectory and attracts new investors each year. ...

Insurance industry insiders are urging the government and development partners to set up and support a policy of subsidising insurance in the agricultural sector. ...

Naza Bikes Sdn Bhd, a subsidiary of Malaysia-based Naza Group of Companies, will enter Cambodia’s crowded motorbike sector, according to the local brand manager. “[Business] will probably be launched on the first of next month,” Hay Chamreoun, the manager, said yesterday, adding that construction for the ...

Aeon Insurance Service (Thailand), the insurance broker of Aeon Thana Sinsap (Thailand), will study doing business in Cambodia as part of its synergy with Aeon Group, which is constructing its first mall in Phnom Penh. Managing director Sakarabhop Dhivarakara said yesterday that even though there were ...

When 46-year-old Than Thol got a $900 loan from Samic Microfinance last year, he took advantage of a little-known and  lengthily worded insurance program called Measure for Economic and Accelerated Development for All, or MEADA. MEADA provides coverage for families of mostly lower-income borrowers in the ...

The Kingdom’s total insurance premiums rose sharply in the first quarter of the year, compared with the same period the previous year, thanks largely to the growth of the economy and an influx of foreign direct investment, industry insiders said. Official data from the General Insurance ...

Cambodia’s insurance industry earned a total premium of 12 million U.S. dollars in the first three months of 2013, up 30 percent compared with the same period last year, according to the industry’s report released Wednesday. The main sources of the premium were from fire insurance ...

Private car owners could soon be required to buy motor insurance if a planned law amendment gets the green light, stoking optimism that such a bill could put the brakes on Cambodia’s high rate of hit-and-run accidents. Currently, only commercial vehicles, such as buses, legally require ...

An insurance training centre is being planned in Cambodia to develop local expertise lacking in the Kingdom’s nascent insurance industry. The institute hopes to offer diploma courses to industry leaders here so they in turn will be qualified to provide insurance training to others, such as ...

The year 2012 has seen a number of changes of personnel within different companies in Cambodia, particularly in the telecommunications sector, but also in the insurance and banking industry. According to In Channy, ACLEDA Bank’s CEO and vice chairman of the International Business Chamber Cambodia, the ...

The total amount of claims paid out by local insurance firms during the first nine months of the year have tripled to more than $11 million compared to the same period in 2011 According to data from General Insurance Association of Cambodia (GIAC), paid claims grew ...

Cambodians are starting to learn about insurance, thanks to Canadian company Manulife, which held a press conference on the topic on Friday. Low awareness and a limited pool of skilled talent are challenges facing insurers in Cambodia according Prudential representative Pankaj Banerjee. Despite this, he said Prudential ...

Manulife Financial Corp. (MFC), Canada’s largest insurer, has opened an office in Phnom Penh, Cambodia, its first in the Southeast Asian nation. Manulife has about 40 people in its Cambodian unit, the Toronto-based insurer said today in a statement. ...

Revenues in the insurance industry increased to $9.4 million in the first three months of the year compared with $6.7 million during the same period last year, figures from the General Insurance Association of Cambodia show. Ty Atith, a senior underwriter at Cambodian Reinsurance Company, said ...

The number of flood-related insurance claims has been fewer than expected despite the Kingdom’s worst flooding in a decade, industry insiders say. Although the floods, which began in late August, had affected large sections of the country, few claims had been made, Infinity Insurance chief executive ...