Cambodia: Growth of insurance market slows in 1Q2024
Source: Asia Insurance Review | Jul 2024
Cambodia’s insurance sector continued to expand, with total premium reaching $96.6m in the January-March period this year, according to data from the Insurance Regulator of Cambodia.
Growth in 1Q2024 was marginal, recorded at 0.9% compared to the corresponding quarter in 2023. This was slower than the 5.6% increase attained in 1Q2023.
The gross premium of the general insurance market in the first quarter of this year amounted to $44.9m, an increase of 1% compared to 1Q2023, while the life insurance premium totalled $51.5m, up by 0.9%, the report noted.
Cambodia’s insurance market comprises 18 general insurers, 14 life insurers, seven microinsurance companies and one reinsurer. A