Logo of Phnom Penh Post newspaper Phnom Penh Post - Prudential celebrates 10th anniversary in Cambodia and 175 years of history worldwide

Prudential celebrates 10th anniversary in Cambodia and 175 years of history worldwide

Content image - Phnom Penh Post
A celebration of Prudential’s 10th anniversary in Cambodia and 175 years of history worldwide was held at Raffles Grand Hotel d’Angkor in Siem Reap. PHOTO SUPPLIED

Prudential celebrates 10th anniversary in Cambodia and 175 years of history worldwide

Prudential celebrated its 10th anniversary in Cambodia at the Raffles Grand Hotel d’Angkor recently. This was followed by a gala dinner at Thommanon Temple in Siem Reap province.

The celebration marked a major milestone for Prudential Cambodia, a subsidiary of Prudential Plc, which celebrates its 175th anniversary of history worldwide this year.

The event highlighted the company’s positive impacts in the industry and community, its digital transformation, and its commitment to social responsibility.

The event was presided over by HE Ros Seilava, Secretary of State, Ministry of Economy and Finance, HE Bou Chanphirou, Director General of Insurance Regulator of Cambodia, Mr Huy Vatharo, Chairman of Insurance Association of Cambodia, HE Dominic Williams, UK Ambassador to Cambodia, Mr Lun Sam Ol, Director

of Supervision Department I of National Bank of Cambodia, Mr Seng Sotheara, Director of Department of Tourism and Culture Department of Apsara National Authority, Dr In Channy, President and Group Managing Director, ACLEDA Bank, Shriti Vadera, Chair, Prudential Plc, Mr Solmaz Altin, Managing Director, Strategic Business Group, Prudential Plc, and Mr Sanjay Chakrabarty, CEO, Prudential Cambodia.

Prudential Cambodia has been instrumental in promoting financial inclusion in Cambodia, providing access to life insurance products and services to thousands of customers across the country.

The company has been recognised for its contributions to the industry.

Content image - Phnom Penh Post
A gala dinner held at the Thommanon Temple in Siem Reap, Cambodia, to commemorate the anniversary of providing a decade of financial protection in Cambodia and 175 years worldwide. PHOTO SUPPLIED

Giving back to the community

Prudential Cambodia has been devoted to making a positive impact in the community, having donated more than USD7 million since 2013.

Most of this has been used for educational projects, like First Read in partnership with the NGO Save The Children and Safe School projects, which received USD5 million and USD735,000 respectively.

The company has also supported other causes, like the Cha-Ching project, the Covid-19 Relief Fund and Run for Kantha Bopha for Children.

Contribution of the life insurance market to the growing economy

HE Ros Seilava, Secretary of State, Ministry of Economy and Finance, said: “Cambodia’s economy has grown at a high rate over the last two decades, which has led to a dynamic and fast-growing insurance market.

“The market has experienced an average growth rate of 25 per cent per annum over the last 10 years, and the Non-Bank Financial Services Authority has issued several regulations to strengthen the regulatory framework for insurers.

“The achievements of Cambodia’s insurance sector are a result of strong commitment and close cooperation among stakeholders, including Prudential Cambodia.”

HE Bou Chanphirou, Director General of Insurance Regulator of Cambodia, added: “In 2022, Prudential Cambodia has contributed significantly to Cambodia market, gaining a 36 per cent market share with various protection, saving, and endowment products.

“Prudential Cambodia has trained 5,502 professional insurance agents to serve the market as the company’s sale staff, individual agents, and salespersons in Bancassurance.

“The company’s adoption of InsurTech has allowed them to continue serving customers during the Covid-19 pandemic.”

The company has also adopted an omnichannel approach, providing customers with multiple options to purchase its insurance products using their preferred channels.

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

Trustworthiness, customer focus and excellence

Solmaz Altin, Managing Director, Strategic Business, Prudential Plc, said, “Prudential was among the first international life insurers to set up operations in Cambodia in 2013.

“While Cambodia may be a relatively new market for Prudential, we are clear about its long-term potential and the role we can play to increase financial resilience and inclusion.

“We are committed to working with the government, regulator, and partners to develop innovative solutions to help people get the most out of life.”

Mr Sanjay Chakrabarty, CEO, Prudential Cambodia, said: “Prudential Cambodia has been operating for 10 years, becoming one of the largest life insurers in the country.

“We have provided customisable solutions to over 321,000 customers, approving more than USD18 million in claims last year.

“As we have sold thousands of digital policies, we will continue to innovate digital policies and uphold core values of trustworthiness, customer focus, and excellence.”

Content image - Phnom Penh Post


  • Five-year-old Hanuman dances his way into hearts of Cambodia

    A young talent from a new-established settlement has emerged, captivating the online world with his mesmerising performances of the traditional Cambodian monkey dance. Roeun Kakada is a five-year-old prodigy who has taken the social media sphere by storm with his exceptional dance skills and dedication

  • Fresh Covid warnings as Thai hospital fills

    A senior health official reminds the public to remain vigilant, as neighbouring countries experience an increase in Covid-19 cases, with the latest surge appearing to be a result of the Omicron XBB.1.5 sub-variant. Or Vandine, secretary of state and spokeswoman for the Ministry of Health,

  • Honda shutters Siem Reap football club

    Japanese football legend Keisuke Honda, the owner of Siem Reap football club Soltilo Angkor FC, has been forced to shut the club down, after it failed to attract sponsorship for the upcoming season. Honda, the former manager of the Cambodia men's national football team, said

  • Hun Sen warns of regional tensions

    ASIA is becoming a dangerous geopolitical hotspot, with several countries announcing that they intend to send naval vessels towards Southeast Asia and on to the South China Sea, warned Prime Minister Hun Sen. “Heated geopolitical issues can easily escalate, namely to war. I am not

  • PM declares ASEAN Para Games open

    The 12th ASEAN Para Games officially kicked off on the evening of June 3 at Morodok Techo National Stadium in Phnom Penh, with a spectacular opening ceremony featuring fireworks and performances by some of the Kingdom’s most accomplished talents. Tens of thousands of sports fans

  • Waterway job still pending for Kampot tourism port’s opening

    The search is still on for a contractor to expand and deepen the Kampot International Tourism Port’s waterway and deliver additional enhancements allowing safe access for larger vessels, nearly a year after the main construction work on the 4.25ha site was completed on June 30, 2022.