Push on for farm insurance
Insurance industry insiders are urging the government and development partners to set up and support a policy of subsidising insurance in the agricultural sector. ...
Record growth in insurance
Cambodia’s insurance industry saw record growth in 2016 and was valued at $113 million, according to a report from the Insurance Association of Cambodia (IAC). ...
New insurance product gives rice farmers a break
Farmers hit by drought in Battambang this year are already benefitting from a new crop insurance product for rice farmers introduced by Forte Insurance, with at least 60 families in two districts of the country’s main rice-growing province collecting payments so far. ...
Estimated $900k damage after factory blaze
The cost of a blaze that ripped through a backpack factory in Phnom Penh’s Dangkao district last Tuesday amounted to almost $1 million, an administrator at the factory said Monday. ...
Insurance law reform under way
The Council of Ministers last week approved a raft of changes to the country’s insurance laws, a move that industry insiders hope will better reflect the sector’s current state. The draft law, which was prepared by the Ministry of Economy and Finance, has an additional 14 ...
Insurance investment in construction and property see year-on-year increases
Cambodia’s insurance business is continuing to make strides, with the total value of engineering insurance reaching approximately $4 million in 2013, a significant increase compared to 2012. According to data recently released by the Insurance Association of Cambodia, the value of engineering insurance purchased in 2013 ...
Micro-insurance access urged
Cambodia’s finance sector should increase insurance accessibility to its smallest lenders to help protect against indebtedness at times of disaster, an industry expert said at a conference in Phnom Penh yesterday. Speaking at the Hotel Cambodiana to an audience of industry representatives on rural entrepreneurship, Jaime ...
Hor Kimsay and Daniel de Carteret
Insurance premiums on the rise
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 ...
Insurance Institute To Boost Skills in Kingdom
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 ...
Forte set to insure travellers on the net
Forte Insurance, a leading general insurance company in Cambodia, officially launched the region’s first online travel insurance product. Officials and insiders said the product is to serve the growing number of Cambodian outbound tourists. Youk Chamroeunrith, Forte Insurance general manager, told the Post yesterday that ...
Moto imports jump 55 per cent
IMPORTS of motor scooters reached 264,085 units, with a total value of $139 million in the first 11 months of last year – a 55 per cent jump from 170,380 units worth $86.5 million in the corresponding period of 2011, according to data from the ...
Sharp fall in insurance claims
Claims in the Kingdom’s six insurance companies declined dramatically last year, while the total premium revenue sharply increased by more than 20 per cent year-on-year, official data from the General Insurance Association of Cambodia (GIAC) show. GIAC data shows total claims reached $4.8 million, down from ...
Insurance urged for CSX listings
The Ministry of Economy and Finance yesterday urged companies intending to list on the Cambodia Securities Exchange (CSX) to buy insurance to bolster public confidence. Vice President Bo Chanpiro of the Financial Industry Department of the Ministry of Economy and Finance said the finance sector relies not only ...
Forte Insurance predictions positive
Charles Cheo, managing director of Forte Insurance, is sanguine on the growth prospects of Cambodia’s US$30 million general insurance market, even though there are five other general insurers competing against Forte, and three new life insurers entering the market. Forte established a presence in Cambodia in ...
Insurance firms at loss through first three quarters
Insurance companies have operated at a loss through the first nine months of the year, paying out a total of $32.5 million over $20.4 million in generated revenues, according to data released by the Cambodian Reinsurance Company on Friday. Ty Atith, a senior underwriter at the ...
Cracks Put Future of Historic Buildings in Doubt
Running down the middle of Mak Sitha’s newly renovated fashion boutique in Phnom Penh is a crack that is splitting her floor tiles in two. Yesterday, part of the floor at Lady Penh Designs began to cave into the ground. Like several other business and ...