Thai Insurer Planning to Enter Cambodia

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Khmer Times/Sum Manet

Muang Thai Life Assurance (MTL) is planning to expand to the Cambodian market early next year, according to a report in the Bangkok Post.

Its president and CEO, Sara Lamsam, was quoted in the English-language daily as saying that the Ministry of Commerce is expected to grant a life insurance operating license to the company’s joint-venture partners Sovannaphum Life Assurance early next year, with the company selling via agencies, bancassurance and online.

She cited the country’s population of 15 million people and its low insurance penetration rate, below 1 percent, as reasons for optimism. The "insurance business in both Cambodia and Vietnam has high opportunities to grow. They will take [a] shorter period to develop than the Thai market, which has had insurance for 80-90 years," Ms. Lansam told.

read more: http://www.khmertimeskh.com/news/18942/thai-insurer-planning-to-enter-cambodia/