Cambodia has reportedly launched its first life insurance company, with the official inauguration of Cambodian Life.
In September 2011, Life Insurance International reported that the new company is an initiative of the Cambodian government which will retain 51% of Cambodian Life’s equity following its establishment.
The remaining 49% will be divided between four foreign insurers: Indonesian insurer PT Asuransi, Thai insurers Bangkok Life Assurance and Bangkok Insurance Public, and Hong Kong-based Asia Insurance Group.
It is reported that to date the company is offering three types of insurance: mortgage insurance, whole life insurance and term insurance.
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