Cambodian Life, the first ever Cambodian life insurance company, was launched here yesterday in the presence of H.E. Aun Porn Moniroth, Minister Attached to the Prime Minister and Secretary of State at the Ministry of Economy and Finance.
Speaking at the launching ceremony, H.E. Aun Porn Moniroth said it is another historical achievement after Cambodia’s Securities Exchange (CSX) began its trading last month.
It is a financial service in the forms of saving schemes, investment, family financial planning for long-term to manage unforeseen risks, he said, stressing that it is also significant in terms of liking other financial sectors, including securities market, banking sectors, he added.
Cambodian Life is a joint venture company between Cambodia’s Ministry of Economy and Finance with 51 percent share and four other foreign investor partners including PT Asuransi Central Asia of Indonesia, Asia Insurance Company Limited of Hong Kong, Bangkok Life Assurance Public Company Limited of Thailand and Bangkok Insurance Public Company Limited of Thailand.
Up to now, Cambodia has seven insurance companies and one domestic reinsurance company, all are general insurers, except the Cambodian Life.