In a positive indicator of the financial awareness in the country, Cambodians surrendered fewer insurance policies in 2023.
The Cambodian government has a long-term goal of increasing the insurance penetration rate in the country to 5.5% by 2030. It would also be desirable for insurance density to hit $135 a person, according to Insurance Regulator of Cambodia director-general Bou Chanphirou.
Endowment policies have traditionally been popular in Cambodia. In 2023, they formed as high as 82% of all life insurance policies sold in the Kingdom.
Prudential (Cambodia) Life Assurance and Wing Bank (Cambodia) have announced a strategic bancassurance partnership, endorsed by the Insurance Regulator of Cambodia, and the National Bank of Cambodia.
AIA Cambodia has launched "WorkWell with AIA", a programme that aims to positively impact the health and well-being of their corporate solutions customers and empower the Cambodian corporate workforce to live Healthier, Longer, Better Lives.
Cambodia's insurance industry saw total premium income increase by 3% to $342m in 2023 from $331.8m in 2022, according to data from the Insurance Regulator of Cambodia (IRC).
Sovannaphum Life Assurance Plc - a leading life insurance company in Cambodia - kicked off the new year with a motivational event held under the theme of "One Mission One Goal in 2024".
Cambodia's insurance industry recorded a premium of $87.3m in the third quarter of 2023, up 2.6% from $85m in the corresponding quarter last year, according to a report by the Insurance Regulator of Cambodia (IRC).
More than three thousand runners turned out recently for the inaugural "AIA Pink Run", an initiative launched by AIA Cambodia Life Insurance in partnership with the Cambodia Marathon Committee (CMC). The event theme aimed to raise awareness of breast cancer nationwide.
FWD Group Holdings Limited marked its 10th anniversary since the FWD brand was introduced on 14 August 2013, by announcing its '10 grants in 10 markets' charitable initiative for local communities.