Cambodia’s insurance industry reported gross premiums totalling $35.2 million in August 2025, according to the latest figures released by the Insurance Regulator of Cambodia (IRC).
This represents an increase of 9.24% compared to the $32.2 million recorded in August of the previous year.
The sector’s growth was driven by both life and general insurance segments, with life insurance premiums reaching $19.6 million, a 4.23% rise year-on-year.
General insurance premiums also saw an uptick, climbing 16.28% to $15.5 million for the same period.
In terms of claims, insurers paid out $9.7 million in August, a notable reduction from the $6.1 million paid in the same month last year.
The IRC’s report did not specify the reasons for the decrease in claims, but the trend suggests evolving risk profiles or changes in claims management practices within the sector.
The IRC continues to emphasise regulatory improvements and market education as central pillars of its strategy.
As of August 2025, Cambodia’s insurance landscape included 59 licensed entities, comprising 17 general insurers, 12 life insurers, 8 micro-insurers, 2 reinsurers, 16 brokers, and 4 loss adjusters.
“The insurance penetration and insurance density numbers illustrate that the Cambodian insurance market has potential room for further growth,” said Bou Chanphirou, director general of the IRC, as reported by Khmer Times.
He also reaffirmed the regulator’s commitment to strengthening legal frameworks, enhancing public trust, and ensuring insurance remains accessible as a financial safety net.
To further these goals, the IRC has focused on distributing educational materials and refining regulatory standards. These efforts are intended to support the long-term stability and resilience of both insurers and private pension operators, in line with international best practices.
In September 2025, the IRC formalised a partnership with the Chartered Insurance Institute (CII) of Hong Kong through a Memorandum of Understanding (MoU) signed in Phnom Penh.
According to a report by Khmer Times, the agreement aims to advance professional training, facilitate knowledge sharing, and build capacity within Cambodia’s insurance sector.
The signing ceremony was attended by Bou Chanphirou and CII executive director Holly Porter.
The collaboration is designed to raise professional standards and better equip Cambodian insurance practitioners to meet global benchmarks.
Chanphirou highlighted the sector’s evolution since its reintroduction in the late 1980s, noting reforms in licensing, consumer protection, governance, solvency, and reinsurance.
These reforms are aligned with the International Association of Insurance Supervisors (IAIS), of which Cambodia is now a member.
Currently, 40 insurance companies operate in Cambodia, including 18 general insurers, 14 life insurers, 7 micro-insurers, and one reinsurer.
The market expanded by 8% in 2024, generating around $357 million in gross premiums and accumulating over $1.2 billion in total assets. Despite these gains, insurance penetration remains modest at 1.13%, with average per-capita spending slightly above $20.
Chanphirou described the MoU as a step toward enhancing sector capacity and fostering growth.
“The MoU is a foundation for cooperation and mutual benefits between the two regulators to enable us to learn and share knowledge, experience, and best practices,” he said, as reported by Khmer Times.
The IRC and CII plan to implement training programs, seminars, and forums focused on regulatory developments and emerging trends, aiming to support the sustainable development of Cambodia’s insurance market.
