Research and Markets: The Insurance Industry in Cambodia, Key Trends and Opportunities to 2017: Key Customer Needs Covered

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DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/xxngn4/the_insurance) has announced the addition of the "The Insurance Industry in Cambodia, Key Trends and Opportunities to 2017" report to their offering.

Despite there being only nine insurance companies operating in Cambodia in 2012, the insurance industry is growing. The global financial crisis affected the industry in 2009, as non-life insurance, the largest segment in the industry, registered a decline of 3.2%. Insurance penetration stood at 0.25% in 2012, which is very low when compared with developed countries. The Cambodian insurance industry consists of both domestic and foreign insurers. The fire and motor insurance categories led the industry as the high rate of road accidents supported the growth of motor insurance, and the rising incidents of fires in garment manufacturing plants supported the growth of fire insurance. Additionally, the inadequate public healthcare system increased the scope for private health insurance in Cambodia. As a result of these factors, the industry grew at a compound annual growth rate (CAGR) of 14.6% during the review period (2008-2012).

Key Highlights

- The insurance industry in Cambodia consists of nine insurers and one reinsurer

- Prior to 2012, there was no life insurance segment in the industry

- The high risk of natural disasters and a high rate of traffic accidents supported the segment's growth during the review period, and non-life insurance accounted for 78.3% of the industry's overall written premium in 2012

- In 2012, the premium per capita of the Cambodian insurance industry was US$2.4, while insurance penetration stood at 0.25%

- The Cambodian non-life segment was led by the property insurance category, followed by motor insurance, marine, aviation and transit, and general liability insurance

- Microinsurance is very popular in Cambodia, with low-premium microinsurance products attracting the attention of the country's low-income population

Companies Mentioned:

-Forte Insurance

-Cambodian National Insurance Company

-The Cambodia-Vietnam Insurance Company

For more information visit http://www.researchandmarkets.com/research/xxngn4/the_insurance

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Sector: Insurance

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