Dai-ichi Life Insurance reportedly plans to open a representative office in the Cambodian capital Phnom Penh this month.

The Japan Times said Dai-ichi Life Insurance will become the first Japanese life insurer to establish a presence in Cambodia.

It is reported that Dai-Ichi Life plans to sell insurance products by the fiscal year ending in March 2018.

Dai-ichi Life already operates in Vietnam, Thailand and Indonesia.

In March 2016, Life Insurance International reported that Japan Post Insurance and Dai-ichi Life Insurance will collaborate to offer financing and insurance services overseas, including asset management and product development.

Leveraging the mutual strength, Japan Post Insurance seeks to boost its deteriorating returns due to the Bank of Japan's negative interest rate policy introduced last month. The partnership is expected to start next fiscal year.