The Cambodian insurance industry will soon initiate steps to achieve stronger regulations and sustainable growth for the industry.
According to a report by Khmer Times the top executives of country’s insurance companies recently met with the insurance regulator (IRC) in a high-level policy dialogue.
The meeting held under the banner of the “Insurance Regulator-CEO Forum 2025,” was chaired by IRC director general Bou Chanphirou and was attended by the CEOs of all the insurance companies in the country. The CEOs were led by Insurance Association of Cambodia (IAC) chairman Huy Vatharo.
The report said the annual forum serves as a key platform for collaboration between the public and private sectors, with a shared mission to improve regulatory implementation and ensure the long-term, environmentally conscious development of Cambodia’s insurance industry.
A statement issued by the IRC after the meeting said this year’s forum yielded several concrete outcomes, including the reinforcement of rules governing the sale of insurance products and the use of actuarial valuation services, aimed at enhancing company sustainability.
The discussions also focussed on strategic frameworks to diversify investment portfolios of insurance funds. The forum also explored tax incentive mechanisms to boost sector competitiveness and innovation.
The simplification of agent registration procedures was another important point on the meeting’s agenda. Henceforth Cambodian national ID cards could now be used in place of residence permits for registering insurance agents as natural persons.