Last week, the Insurance Regulator of Cambodia (IRC), the country's insurance regulator, held a dissemination seminar on "Regulation on Insurance" in the Banteay Meanchey Province.
The event was presided over by the IRC’s director general, his excellency BOU Chanphirou, and attended by Banteay Meanchey Province deputy governor Chhoeun Krayong, provincial departments and institutions, authorities, private institutions and students from universities in the province.
At the event, the IRC’s director general also delivered a lecture on how the insurance sector contributes to economic and job opportunities. The lecture was aimed to raise awareness of the country’s insurance sector, role of the IRC, Cambodia’s strategic development plan for the insurance industry, as well as the segment’s potential growth.
IRC releases figures on insurance market report for April 2025
Separately, the IRC released the figures of the insurance market for April 2025, as compared to April 2024.
The report showed that gross premiums for both the general and life insurance markets rose a total of 6.58%, from $25.6m in April 2024 to $27.3m in April 2025.
Gross premiums in the general insurance segment rose from $10.7m in April 2024 to $10.9m in April 2025 (+2.07%). The number of policies for general insurance rose in the same period as well, from 22,385 to 67,036 (+199.47%). The primary driver of growth for the general insurance segment for the time stated was health.
In the life insurance segment, gross premiums increased by 9.83%, from 14.9m in April 2024 to $16.3m in April 2025. The number of life insurance policies grew in the same period as well, from 66,396 to 104,304 (+57.09%). In the stated timeframe, the primary drivers of growth in the life insurance segment were endowment policies, as well as health riders.
Despite the rising take-up rates of both general and life insurance, gross claims incurred rose 56.98% as well, from a total of $5.2m to $8.2m. This rise was driven by claims in general insurance which increased from $3.4m in April 2024 to $6.5m in April 2025. On the other hand, claims in life insurance fell in the same period from $1.8m to $1.7m (-9.53%).