Insurance premium sees strong growth in 1H19

Insurance industry continues to see strong growth in the first half of 2019, according to insiders. General insurance gross premium between January and June reached $49.3mn, a 14.7% increase compared to the same period last year, while life insurance gross premium surged 55.3% to $66.3mn, according to Mey Vann, director-general of the Ministry of Economy and Finance. Cambodia has 13 general insurance companies, 11 life insurers, and 7 micro-insurance firms. BIMA Cambodia, a micro-insurance that offers life and personal accident insurance to customers living on less than $10 a day with monthly premium starting as low as $1 per month, has more than 500,000 customers, according to its CEO. (Source: Khmer Times)