Apsara dancers perform at the opening ceremony of the Cambodia Life Insurance Company Plc yesterday in Phnom Penh. Photograph: Heng Chivoan/Phnom Penh Post The Kingdom’s first life insurance company, Cambodian Life, launched yesterday, courting a market almost entirely unfamiliar with the service.
Industry insiders said demand for the products would need time to grow.The Ministry of Economy and Finance signed agreements in August with PT Asuransi Central Asia, Asian Insurance Co ltd, Bangkok Life Assurance Plc and Bangkok Insurance Co ltd to provide the services.The company is 51 per cent government owned, the remaining ownership divided between the four insurance companies. Chairman of General Insurance Association of Cambodia (GIAC), Chhay Rattanak, welcomed the launch, but said it would take time for the company to become profitable. “It is a starting point
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First life insurance company launches in Cambodia