Logo of Phnom Penh Post newspaper Phnom Penh Post - Risk management: Insurance premiums grow in 2011

Risk management: Insurance premiums grow in 2011

Risk management: Insurance premiums grow in 2011

INSURANCE premium revenue increased 24 percent in the first two months of 2011 compared year on year, as both number of policies and rates increase, according to figures obtained from the General Insurance Association of Cambodia yesterday.

The increase was led by three main categories, including fire insurance, miscellaneous, and personal accident insurance. All three increased by at least an annualised 40 percent during the two months, GIAC assistant to the chairman Ty Athith wrote.

“Rates are noticed to be increasing as well - this can be a consequence of losses last year,” he said, adding the number of policies issued grew by 28 percent in the first two months.

Some US$830,000 in claims was paid out on during the period, a 22 percent decline on the period in 2010, the statistics showed.

MOST VIEWED

  • US to ramp up sanctions after ‘flawed’ national polls

    At a press conference on Wednesday, the US State Department announced that it would expand visa sanctions on the Cambodian officials and individuals it deems responsible for “undermining democracy” in Cambodia. At the briefing, spokesperson Heather Nauert reiterated that the department regarded the July 29 elections

  • Final poll results confirm first single-party Assembly

    IN an unprecedented situation in Cambodian politics, the official results of the July 29 national elections have declared that the Cambodian People’s Party (CPP) will take all 125 seats in the National Assembly on the back of it receiving 76 per cent of the votes. The National

  • PM's Bodyguard commander hits back at US

    The commander of Prime Minister Hun Sen’s Bodyguard Unit (BGU) Hing Bun Heang on Sunday dismissed a short video clip that went viral on social media in which he says he is preparing for a war with the United States over its aggressiveness towards

  • Chinese influence to sweep Kingdom?

    Growing Cambodia-China ties have seen the latter’s influence sweep across the Kingdom through increased investments and tourism. The Asian giant has become the leading source of foreign funds in Cambodia, fuelling the construction sector with huge casino and hotel projects. Much of the growth