Insurance Industry Sees Double-digit Premium Growth

Total premiums for general insurance rose 16.4 percent last year to about $61.6 million, from $53 million in 2014, with property, fire, vehicle and medical insurance leading the way, the Insurance Association of Cambodia said yesterday.

A report from the association said the fastest growing segment of insurance was property and fire with premiums rising 35.1 percent, followed by vehicle insurance, up 14.5 percent, medical insurance, up 26 percent, and personal accident insurance, up 18.8 percent from 2014.

The report said property and fire insurance accounted for 39.7 percent of total premiums last year, followed by vehicle insurance at 15.1 percent, medical at 14.1 percent, personal accident at 6.8 percent, engineering at 5.8 percent, and marine, aviation, and transport at 4 percent.

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