Prudential Cambodia and ACLEDA Bank Plc on January 13 marked a decade of their successful partnership, having protected thousands of Cambodian families and helped numerous lives over the course of the alliance since joining forces back in 2013.

The “10 Years of Partnership” celebration at Sokha Hotel was presided over by Dr Hor Sovathana, Deputy Director General of the Insurance Regulator of Cambodia, and Heng Bomakara, Deputy Director General of Banking Supervision at the National Bank of Cambodia, Huy Vatharo, Chairman of the Insurance Association of Cambodia, Dr In Channy, President and Group Managing Director of ACLEDA Bank, and Sanjay Chakrabarty, the CEO of Prudential Cambodia.

The glittering occasion was also attended by top management including ACLEDA Bank Group Chief Operations Officer Dr So Phonnary and Prudential Cambodia Chief Distribution Officer Chee Weng Yip.

The annual event this year highlighted how Prudential Cambodia and ACLEDA Bank together achieved remarkable results in 2022, and demonstrated their outlook for 2023 strategic growth, with a commitment to reaching even more Cambodian families, helping them build better futures.

As of last December, the partnership had resulted in more than 200,000 customers and the approval of over $14 million in claims, highlighting the effectiveness of the partnership in protecting Cambodian families and helping them progress.

While this year marks a significant milestone for the partnership, with it reaching a decade of protecting and securing the financial futures of Cambodians, Prudential is also celebrating 175 years of providing life, health insurance and asset management worldwide.

Heng Bomakara, Deputy Director General of the Supervision Department General of the National Bank of Cambodia, said the partnership between Prudential and ACLEDA Bank has allowed for a wide range of insurance products and services to be offered to customers, catering to their specific needs.

The partnership was also the first to receive corporate agent model approval from the National Bank of Cambodia for providing insurance products and services.

The collaboration has not only been beneficial for customers, but has also allowed for expansion into new markets and a strengthened position in the industry.

Dr Hor Sovathana, Deputy Director General of the Insurance Regulator of Cambodia, emphasised the importance of developing the Kingdom’s insurance sector, with it having been identified as an important source of investment.

The insurance products and services offered through the bancassurance partnership have helped increase access to insurance in Cambodia, which is essential for the financial wellbeing and security of individuals and families, she added.

Prudential Cambodia CEO Sanjay Chakrabarty expressed his gratitude to the Insurance Regulator of Cambodia and the National Bank of Cambodia for their support and guidance over the past decade.

He also highlighted the importance of digitalisation in the future of the partnership, with it set to continuously improve the customer experience and make it easier for people to access insurance coverage.

“As we reflect on the past 10 years, and the past 175 years of the history of Prudential, it is clear we have a strong foundation for continued success.

“I am confident that our partnership with ACLEDA Bank will continue to thrive in the years ahead,” Chakrabarty said.

Dr In Channy, President and Group Managing Director of ACLEDA Bank, said: “For the past 10 years, Prudential and ACLEDA Bank have been providing financial planning needs for Cambodians.

“We remain committed to developing financial markets, supporting key infrastructure projects in Cambodia and advancing financial inclusion through investing in digital capabilities while being responsible corporate citizens.”