| English.news.cn 2013-08-06 17:05:26 |
   
 
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PHNOM PENH, Aug. 6 (Xinhua) -- Cambodia's insurance sector earned a
total premium of 22 million U.S. dollars in the first six months of the
year, up 25 percent from the 17.6 million U.S. dollars it made over the
same period last year, the industry's figures showed Tuesday.
The premiums were from fire insurance of 32 percent, motor insurance of 18 percent, personal accident insurance of 23 percent, health insurance of 15 percent, construction engineering of 11 percent and transportation of one percent, said the report of the General Insurance Association of Cambodia (GIAC).
During January-June period this year, the total amount of claims paid out by local insurers was 6.3 million U.S. dollars, up 164 percent compared with the same period last year.
Ty Atith, assistant to GIAC's President Chhay Rattanak, said" The remarkable rise in the sector is thanks to better economic situation and more public awareness of insurance advantages."
The Southeast Asian nation has nine insurers including six general insurance companies and three life insurers.
The six general insurers are Forte Insurance, CAMINCO, Asia Insurance, Campubank Lonpac, Infinity Insurance, and Cambodia- Vietnam Insurance, while the three life insurance companies are Cambodian Life Insurance Company, Canada-based Manulife and U.K.- based Prudential.
According to Cambodia's insurance law, to run an insurance company, the insurer must have the minimum capital of 7 million U. S. dollars.
The premiums were from fire insurance of 32 percent, motor insurance of 18 percent, personal accident insurance of 23 percent, health insurance of 15 percent, construction engineering of 11 percent and transportation of one percent, said the report of the General Insurance Association of Cambodia (GIAC).
During January-June period this year, the total amount of claims paid out by local insurers was 6.3 million U.S. dollars, up 164 percent compared with the same period last year.
Ty Atith, assistant to GIAC's President Chhay Rattanak, said" The remarkable rise in the sector is thanks to better economic situation and more public awareness of insurance advantages."
The Southeast Asian nation has nine insurers including six general insurance companies and three life insurers.
The six general insurers are Forte Insurance, CAMINCO, Asia Insurance, Campubank Lonpac, Infinity Insurance, and Cambodia- Vietnam Insurance, while the three life insurance companies are Cambodian Life Insurance Company, Canada-based Manulife and U.K.- based Prudential.
According to Cambodia's insurance law, to run an insurance company, the insurer must have the minimum capital of 7 million U. S. dollars.
Editor:
Fu Peng
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