Cambodia’s Insurance Market Continues to Grow
Cambodia’s insurance industry has shown significant growth in recent years, with gross premiums reaching $357 million in 2024. This represents a substantial increase from $36.1 million in 2012, achieving an annual average growth rate of 25%, as reported by the Khmer Times at the Information Sharing Forum. The forum, themed ‘Current Developments of Insurance market in Cambodia,’ was organized by the Insurance Association of Cambodia in collaboration with the Club of Cambodia Journalist.
The Insurance Regulator of Cambodia noted that this sustained growth reflects increasing public trust and awareness, alongside diversification of insurance products. The life insurance segment continues to be a major driver of the industry, generating $200.2 million in premiums in 2024. This compares to $148 million accounted for by general insurance and $8.8 million from microinsurance.
Within the general insurance category, property insurance held the largest share at 34.8% of total premiums. Health insurance followed at 22.6%, while motor insurance accounted for 16.3%. The remaining 9.8% was comprised of various miscellaneous categories.
The growth in Cambodia’s insurance market demonstrates the increasing penetration of insurance products in the country. The diversification of products and growing public awareness are key factors contributing to this expansion. As the industry continues to evolve, it is likely that we will see further development in various insurance segments.
