The Insurance Industry in Cambodia, Key Trends and Opportunities to 2022

The Insurance Industry in Cambodia, Key Trends and Opportunities to 2022

Summary

This report provides detailed analysis of the market trends, drivers and challenges in the Cambodian insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Cambodian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.

'The Insurance Industry in Cambodia, Key Trends and Opportunities to 2022' report provides in-depth market analysis, information and insights into the Cambodian insurance industry, including -

The Cambodian insurance industry's growth prospects by segment and category

A comprehensive overview of the Cambodian economy and demographics

Details of the competitive landscape in the Cambodian insurance industry

The various distribution channels in the Cambodian insurance industry

Details of regulatory policy applicable to the Cambodian insurance industry

Analysis of natural hazards in the Cambodian insurance industry.

Key Highlights

In July 2017, the Finance Ministry of Cambodia and the Office of Insurance Commission (OIC), Thailand signed a Memorandum of Understanding (MoU) to strengthen insurance regulations in Cambodia.

The MEF permits 100% foreign direct investment (FDI) in the insurance industry, which makes the industry competitive.

In May 2018, Amret Microfinance Institution entered into an association with AIA to offer the life and health insurance products of AIA to the customers of Amret.

Scope

This report provides a comprehensive analysis of the insurance industry in Cambodia.

It provides historical values for the Cambodian insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.

It offers a detailed analysis of the key segments in the Cambodian insurance industry, with market forecasts to 2022.

It covers an exhaustive list of parameters, including written premium and claims.

It analyzes the various distribution channels in Cambodia.

It profiles the top insurance companies in Cambodia, and outlines the key regulations affecting them.

Reasons to buy

Make strategic business decisions using in-depth historic and forecast market data related to the Cambodian insurance industry and each segment and category within it.

Understand the demand-side dynamics, key market trends and growth opportunities in the Cambodian insurance industry.

Assess the competitive dynamics in the Cambodian insurance industry.

Identify the growth opportunities and market dynamics in key segments.

Gain insights into key regulations governing the Cambodian insurance industry and their impact on companies and the industry's future.

1. Key Facts and Highlights2 Executive Summary3 Economy and Demographics

4 Industry Outlook

4.1 Industry Indicators
4.1.1 Gross written premium
4.1.2 Insurance density

5 Life Insurance Outlook

6 General Insurance Outlook

6.1 Segment Indicators
6.1.1 Gross written premium
6.1.2 Penetration
6.2 Property Insurance
6.2.1 Gross written premium
6.3 Motor Insurance
6.3.1 Gross written premium
6.4 Marine, Aviation and Transit Insurance
6.4.1 Gross written premium
6.5 Personal Accident and Health Insurance
6.5.1 Gross written premium
6.6 Miscellaneous
6.6.1 Gross written premium

7 Reinsurance Outlook8 Distribution Channel Outlook

9 Natural and Man-Made Hazards

9.1 Flooding
9.2 Droughts
9.3 Epidemics
9.4 Man-Made Hazards
9.5 Exposure

10 Competitive Landscape

11 Governance, Risk and Compliance

11.1 Legislation Overview and Historical Evolution
11.2 Latest Changes in Regulation
11.3 Legislation and Market Practice by Type of Insurance
11.3.1 Life insurance
11.3.2 Property insurance
11.3.3 Motor insurance
11.3.4 Liability insurance
11.3.5 Marine, aviation and transit insurance
11.3.6 Personal accident and health insurance
11.4 Compulsory Insurance
11.4.1 Liability insurance for contractors
11.4.2 Motor third-party liability insurance
11.4.3 Insurance for passenger liability on public transport
11.4.4 Worker’s compensation
11.4.5 Professional indemnity insurance for insurance brokers
11.4.6 Liability insurance for ships with respect to oil pollution
11.5 Supervision and Control
11.5.1 International Association of Insurance Supervisors
11.5.2 Ministry of Economy and Finance
11.5.3 General Insurance Association of Cambodia (GIAC)
11.6 Non-Admitted Insurance Regulations
11.6.1 Overview
11.6.2 Intermediaries
11.6.3 Market practices
11.6.4 Fines and Penalties
11.7 Company Registration and Operations
11.7.1 Type of insurance organization
11.7.2 Establishing a local company
11.7.3 Foreign ownership
11.7.4 Types of license
11.7.5 Capital requirements
11.7.6 Solvency margin
11.7.7 Reserve requirements
11.7.8 Investment regulations
11.7.9 Statutory return requirements
11.7.10 Fee structure
11.8 Taxation
11.8.1 Insurance premium or policy taxation
11.8.2 Withholding taxes on premium paid overseas
11.8.3 Corporate tax
11.8.4 VAT
11.8.5 Captives
11.8.6 Property tax
11.9 Legal System
11.9.1 Introduction
11.9.2 Access to court
11.9.3 Alternative dispute resolution

12 Databook

12.1 Life Insurance
12.1.1 Policies and premium
12.1.2 Claims and expenses
12.1.3 Individual life insurance
12.1.4 Group life insurance
12.2 General Insurance
12.2.1 Policies and premium
12.2.2 Claims and expenses
12.2.3 Property insurance
12.2.4 Property insurance by category
12.2.5 Motor insurance
12.2.6 Marine, aviation and transit insurance
12.2.7 Personal accident and health insurance
12.2.8 Personal accident and health insurance by category
12.2.9 Miscellaneous

13 Definitions and Methodology

13.1 Definitions
13.2 Methodology

14 About the Publisher

14.1 Contact the Publisher
14.2 About the Publisher
14.3 Services
14.4 Disclaimer

List of Tables

Table 1: Cambodian Insurance Industry - Key Facts, 2017
Table 2: Cambodian Government Credit Ratings
Table 3: Cambodian Insurance Industry - Gross Written Premium (KHR Billion and US$ Million), 2013-2017
Table 4: Cambodian Insurance Industry - Density (KHR), 2013-2017
Table 5: Cambodian General Insurance - Gross Written Premium (KHR Billion and US$ Million), 2013-2017
Table 6: Cambodian General Insurance - Gross Written Premium (KHR Billion and US$ Million), 2017-
Table 7: Cambodian Property Insurance - Gross Written Premium (KHR Billion and US$ Million), 2013-2017
Table 8: Cambodian Property Insurance - Gross Written Premium (KHR Billion and US$ Million), 2017-
Table 9: Cambodian Motor Insurance - Gross Written Premium (KHR Billion and US$ Million), 2013-2017
Table 10: Cambodian Motor Insurance - Gross Written Premium (KHR Billion and US$ Million), 2017-
Table 11: Cambodian Marine, Aviation and Transit Insurance - Gross Written Premium (KHR Billion and US$ Million), 2013-2017
Table 12: Cambodian Marine, Aviation and Transit Insurance - Gross Written Premium (KHR Billion and US$ Million), 2017-
Table 13: Cambodian Personal Accident and Health Insurance - Gross Written Premium (KHR Billion and US$ Million), 2013-2017
Table 14: Cambodian Personal Accident and Health Insurance - Gross Written Premium (KHR Billion and US$ Million), 2017-
Table 15: Cambodian Miscellaneous - Gross Written Premium (KHR Billion and US$ Million), 2013-2017
Table 16: Cambodian Miscellaneous - Gross Written Premium (KHR Billion and US$ Million), 2017-
Table 17: Cambodia - Insurance Regulatory Framework Key Features
Table 18: Cambodia - Life Insurance Regulatory Framework
Table 19: Cambodia - Property Insurance Regulatory Framework
Table 20: Cambodia- Motor Insurance Regulatory Framework
Table 21: Cambodia- Motor Insurance Regulatory Framework
Table 22: Cambodia - Liability Insurance Regulatory Framework
Table 23: Cambodia - Corporate Tax Rates for the Financial Year 2017
Table 24: Cambodian Life Insurance - Policies and Premium, 2013-2017
Table 25: Cambodian Life Insurance - Policies and Premium, 2017-
Table 26: Cambodian Life Insurance - Claims and Expenses, 2013-2017
Table 27: Cambodian Life Insurance - Individual Life Insurance, 2013-2017
Table 28: Cambodian Life Insurance - Group Life Insurance, 2013-2017
Table 29: Cambodian General Insurance - Policies and Premium, 2013-2017
Table 30: Cambodian General Insurance - Policies and Premium, 2017-
Table 31: Cambodian General Insurance - Claims and Expenses, 2013-2017
Table 32: Cambodian General Insurance - Claims and Expenses, 2017-
Table 33: Cambodian General Insurance - Property Insurance, 2013-2017
Table 34: Cambodian General Insurance - Property Insurance, 2017-
Table 35: Cambodian General Insurance - Property Insurance by Category, 2013-2017
Table 36: Cambodian General Insurance - Property Insurance by Category, 2017-
Table 37: Cambodian General Insurance - Motor Insurance, 2013-2017
Table 38: Cambodian General Insurance - Motor Insurance, 2017-
Table 39: Cambodian General Insurance - Marine, Aviation and Transit Insurance, 2013-2017
Table 40: Cambodian General Insurance - Marine, Aviation and Transit Insurance, 2017-
Table 41: Cambodian General Insurance - Personal Accident and Health Insurance, 2013-2017
Table 42: Cambodian General Insurance - Personal Accident and Health Insurance, 2017-
Table 43: Cambodian General Insurance - Personal Accident and Health Insurance by Category, 2013-2017
Table 44: Cambodian General Insurance - Personal Accident and Health Insurance by Category, 2017-
Table 45: Cambodian General Insurance - Miscellaneous, 2013-2017
Table 46: Cambodian General Insurance - Miscellaneous, 2017-
Table 47: Insurance Industry Definitions

List of Figures

Figure 1: Cambodian Real GDP (KHR Trillion), 2013-
Figure 2: Cambodian Exchange Rate (KHR per US$), 2013-
Figure 3: Cambodian Consumer Price Inflation (%), 2013-
Figure 4: Cambodian Current Account Balance as Percentage of GDP (%), 2013-2017
Figure 5: Cambodian Unemployment Rate, 2013-
Figure 6: Cambodian Population by Age Group, 2013-
Figure 7: Cambodian Insurance Industry - Gross Written Premium (KHR Billion), 2013-2017
Figure 8: Cambodian Insurance Industry - Density (KHR), 2013-2017
Figure 9: Cambodian General Insurance - Gross Written Premium (KHR Billion), 2013-
Figure 10: Cambodian General Insurance - Penetration (%), 2013-2017
Figure 11: Cambodian General Insurance - Penetration (%), 2017-
Figure 12: Cambodian Property Insurance - Gross Written Premium (KHR Billion), 2013-
Figure 13: Cambodian Motor Insurance - Gross Written Premium (KHR Billion), 2013-
Figure 14: Cambodian Marine, Aviation and Transit Insurance - Gross Written Premium (KHR Billion), 2013-
Figure 15: Cambodian Personal Accident and Health Insurance - Gross Written Premium (KHR Billion), 2013-
Figure 16: Cambodian Miscellaneous - Gross Written Premium (KHR Billion), 2013-
Figure 17: Cambodia - Insurance Supervision and Control at Various Levels
Figure 18: Cambodia - Insurance Regulatory Frameworks for Company Registration and Operation