Cambodian Economy Reviews

CAMBODIA’S insurance premium revenues rose 13 percent to US$5.34 million for this year’s first quarter, compared to the same period of last year, according to the General Insurance Association of Cambodia (GIAC). GIAC Chairman Chhay Rattanak said the premium income was driven by coverage for vehicles, which provided 27 percent of revenues, fire (25 percent), [...]

Cambodia’s first insurance agency had started in 1990 by the State-owned agency – Caminco. After the 1993 national election, the insurance industry is increasing when local and foreign investors have invested in the sector during nearly 20 years. Even though, it is noticed that insurance industry still face challenges in a market where a few [...]

The global economic crisis did not hit Cambodia’s fledgling insurance industry but the insurance sector experienced 18 percent growth in premium income last year. The insurance market size, however, has only total value of 20.5 million US dollars. It is estimated that only one and two percent of14 million of population can afford the insurance. [...]