Read the latest edition of AIR and MEIR as an Interactive e-book

Jun 2022

Market Profile

Cambodia, Laos, Myanmar, Vietnam

Digital acceleration boosts Cambodian life industry

The Cambodian life insurance market, with 14 players including two micro-insurer, has seen rapid growth over the past few years.

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Enough potential in Cambodia

Cambodia has a relatively small insurance market, however, it has a positive growth potential. Despite the pandemic, the industry achieved a better growth rate, 9.5% in 2021 as compared to 7.3% in 2020.

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Laos insurers bear cost of bad drivers

It is estimated that only 20% of vehicles in the country are insured despite mandatory requirements. This could spell bad news for insurers as they deal with volatile risks on the road and an apparent lack of enforcement.

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Survival of the fittest in Myanmar

According to a World Bank Report, Myanmar’s economy continues to be severely tested by the impacts of the military coup and the COVID-19 pandemic.

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Digital future for Myanmar

Myanmar has a young tech-savvy population which adopts technological changes rapidly. Going online and offering digital solutions could be the best way ahead for insurers.

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Vietnam: Solid start to 2022

Vietnam’s insurance industry is expected to benefit from the draft amended law on insurance business which is set to take effect in 2023.

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