PHNOM PENH: Cambodia's insurance sector achieved a gross premium of US$296 million during the first nine months of 2026, marking a 4.2-per cent increase from the US$284 million recorded during the same period last year, according to a report from the Insurance Regulator of Cambodia (IRC) on Monday (Nov 2).
The sector's growth was driven by a diverse market consisting of 18 general insurers, 13 life insurers, seven micro-insurance companies, one reinsurance firm, and 21 insurance brokers.
Meanwhile, total incurred claims during the January-September period reached US$69.93 million, representing a minor 0.42-per cent decline from the US$70.23 million paid out during the same timeframe last year, the report said.
The South-East Asian nation's expanding insurance industry now commands nearly US$1.3 billion in total assets.
According to the IRC, Cambodia's insurance penetration rate currently hovers between 1.1 per cent and 1.2 per cent of gross domestic product, while insurance density stands at approximately US$22 per person. Under its long-term strategic roadmap, Cambodia aims to substantially boost market depth by increasing its domestic insurance penetration rate to 5.5 per cent by 2030. - Xinhua
