Logo of Phnom Penh Post newspaper Phnom Penh Post - Forte to celebrate anniversary

Forte to celebrate anniversary

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.

MOST VIEWED

  • Temi tourism project approved by the CDC

    The $500.4 million Tourism, Ecological, Marine and International (Temi) tourism project has been approved by the Council for the Development of Cambodia (CDC), according to a notice on its Facebook page on Monday. The project is part of Chinese-owned Union City Development Group Co Ltd’s (

  • Rainsy will return at ‘favourable time’

    Opposition figure Sam Rainsy on Saturday suggested he would not return to Cambodia as he had previously promised, saying that like liberators King Father Norodom Sihanouk and Charles de Gaulle, he would only do so at a “favourable time”. “I will go back to Cambodia

  • NagaWorld casino sees net profit of more than $390M last year

    Phnom Penh’s NagaWorld casino posted a 53 per cent net profit increase last year at $390.6 million, a sum which is almost equal to the combined net profit of all Cambodian commercial banks in 2017. NagaWorld’s parent company, NagaCorp Ltd, is listed on the Hong Kong

  • US Embassy urged to stop ‘disrespecting sovereignty’

    The Ministry of Foreign Affairs and International Cooperation called on the US Embassy in Phnom Penh on Saturday to respect the Vienna Convention on Diplomatic Relations after it called former opposition leader Kem Sokha “an innocent man” – a move deemed to be “disrespecting Cambodia’s