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Forte to celebrate anniversary

DOMESTIC insurer Forte Insurance will mark its 10th anniversary at a reception on Saturday at the NagaWorld Hotel and Casino.

Managing Director Carlo Cheo said Forte had increased its gross premium income 33 percent annually since 2000, outpacing the double-digit annual growth seen across the domestic insurance sector as a whole.

The sector was starting from a low base but is growing strongly and has a bright future, he said.

"The recession doesn't really impact the insurance industry," he said. "If you look at the infrastructure and construction activity going on, this will help the sector grow rapidly. We are pretty excited about the future of Cambodia."

He added that the discovery of oil and gas also augured well for the sector's prospects.

According to a statement issued by Forte to mark the anniversary, 14 local staff had received insurance certificates from the Malaysian Insurance Institute or the Chartered Insurance Institute of the UK over the last decade.

Forte provides six classes of insurance products including automobile, casualty, property, engineering and marine cargo.

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