Cambodia's insurance industry recorded gross premiums of $357m in 2024, up from $36.1m in 2012, an annual average growth rate of 25%, according to the Khmer Times.
The data was revealed at the Information Sharing Forum, themed “Current Developments of Insurance market in Cambodia”, which was organised by the Insurance Association of Cambodia in collaboration with Club of Cambodia Journalist, the article noted.
At the forum, the country’s insurance regulator, the Insurance Regulator of Cambodia, noted that the sustained growth reflects increasing public trust and awareness, alongside diversification of products.
The article also revealed that the life line of business continues to drive the sector, as it generated $200.2m in premiums in 2024, as compared to the $148m accounted for in general insurance. Microinsurance brought in $8.8m.
Property insurance held the largest share of the general segment, making up 34.8% of the total premiums, the article noted. Health insurance ranked second, accounting for 22.6%, and motor third with 16.3%. Miscellaneous categories of general insurance made up the remaining 9.8%.