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Banking slowdown has ripple effect on life insurance growth in 2023
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FIs urged to adapt better media communication systems
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The insurance sector in Cambodia experienced positive growth in the first quarter of this year, according to the Insurance Association of Cambodia (IAC). Total premiums received during this period amounted to approximately $96 million, marking a 5.5 per cent increase compared to the same quarter in 2022.
The Insurance Regulator of Cambodia (IRC) has a vision of expanding the value of private insurance premiums to 5.5 per cent of the Kingdom’s gross domestic product (GDP), likely through the introduction of compulsory private vehicle insurance, according to an IRC senior official.
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