Dai-ichi Insurance Eyes Cambodia

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Japan’s Dai-ichi Life Insurance plans to expand into Cambodia and becomes the first Japanese life insurer in the Kingdom’s fledgling insurance market. In Meatra, director of the Ministry of Economy and Finance’s Insurance and Pension Department told Khmer Times Wednesday that the company had approached the ministry and informed it of its plans to open a representative office in Phnom Penh.

“We met them last week and now they are at the stage of carrying out a market feasibility study on the life insurance industry in Cambodia. This is the first Japanese life insurance company to be operating in the country,” said Mr. Meatra. Mr. Meatra said the ministry as a regulator of the insurance market always welcomed new players.

“We welcome new-comers into the industry as the country’s insurance market grows. There is still room for growth in the general insurance and life insurance sectors,” he said. However, Mr. Meatra said that Dai-ichi Life Insurance had yet to confirm when it planned to set up office in the country.

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