Life insurance company Manulife has compensated its first client since it began operations in Cambodia in June this year, a company official said.
Robert J Elliott, CEO and general manager, told the Post yesterday that Manulife disbursed its first claim to the beneficiaries of its client, Lim Pisith, who died last month at the Mount Everest base camp.
He did not disclose the amount of money the company paid to Pisith’s beneficiaries because of concerns for their safety. However, he expressed regret over the loss of the client.
“As CEO of Manulife Cambodia, we are deeply sorry to hear one of our policy shareholders' passing away, while attempting to make his dream come true,” he said. “We send condolences to his family, his friends and his colleagues,” he added.
He said that as soon as the company’s officials knew about Pisith’s death, the staff did their best to process the paperwork as quickly as possible to present the cheque to the family.
“He was our first claimant and it is important for people who buy life insurance to have confidence,” he said, adding that the company aimed to attract one to two million customers in Cambodia. However, Elliott added, reaching this target will require increasing education and public awareness.
Lim Pisal, the brother of Lim Pisith, said the company brought the money to his father who was designated by his brother to receive the claim. He said his brother started to buy life insurance in July, but did not remember how much his brother paid.
Elliott declined to disclose any new developments in the company’s profitability, saying that an annual report will be released containing that information.
According to a previous Post report, David Wong, chairman of Manulife Cambodia, said that as of the end of August, the company’s revenue reached about $20,000 and it had about 100 customers.
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