Logo of Phnom Penh Post newspaper Phnom Penh Post - CIMB the latest to add local insurer

CIMB the latest to add local insurer

CIMB the latest to add local insurer

CIMB Bank, Malaysia’s second-largest, has entered the insurance market via a partnership agreement signed yesterday with Cambodia Life Insurance Company (CLIC).

In Meatra, director general of CLIC, said that under the partnership, CIMB had received full access to offer their insurance products to customers.

“CIMB will be our sale agent because they have wide business coverage and they can help us more,” he said.

CIMB will offer two separate insurance products on behalf of CLIC – one covering individuals loan repayments and the other to relieve financial burden in case of unforeseen circumstances such as loss of income due to illness, according to a joint statement.

It is the second banking firm CLIC has partnered with after signing a similar agreement with Foreign Trade Bank earlier this year.

Meatra said the Foreign Trade Bank agreement had assisted in bringing the insurance provider’s customer base to more than 600.

MOST VIEWED

  • Police seek arrest of Chinese ‘gang’

    Cambodian police remain on the lookout for 20 Chinese nationals who earlier this month posted a video clip threatening to stoke insecurity in Preah Sihanouk province, though the Chinese Embassy in Phnom Penh maintained the group posed no threats to Cambodia’s national security. National Police

  • Rapper deletes song critical of Cambodian social issues

    A young musician has deleted from Facebook and YouTube a rap song that was critical of Cambodia’s social issues and announced that he will stop singing the song after officials visited his home in Siem Reap province and allegedly gave him a warning. Provincial

  • Man arrested for fake PM endorsement

    The owner of currency exchange company GCG Asia Co Ltd was temporarily detained by the court yesterday for attempted fraud after Prime Minister Hun Sen reacted to the company using his name and pictures to allege his endorsement of the firm. Phnom Penh Municipal Court

  • Sihanoukville authority orders structure dismantled

    The Preah Sihanouk provincial administration has ordered owners of two unauthorised construction sites to immediately dismantle them and warned of legal action if the owners failed to comply. Ly Chet Niyom, development management and construction bureau chief at the provincial hall, told The Post on