Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.
Axco’s Cambodia Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.
The Life & Benefits Report for Cambodia includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Total GWP (USD)
Insurance Penetration (%)
Located in the south-western section of the Indo-Chinese Peninsula, Cambodia is bordered by Thailand, Laos and Vietnam.
High demand for garment exports and tourism, external investment, and a construction boom sustained real GDP growth averaging 7.7% from 2000 to 2019. The non-life market, including personal accident and health written by non-life companies, has continued to enjoy positive growth higher than that of GDP from 2015-2020 but remains small in worldwide terms. Growth has been accompanied and/or driven by new market entrants in recent years, both amongst insurers and brokers.
Property is the most significant P&C class of business, with motor seen as a good prospect for further sustainable development.
Most distribution is through in-house sales forces, direct client contact or, increasingly, by bank referral. There were in 2020 some 15 licensed brokers operating from none six years earlier, though these have much more influence in the non-life market than in life distribution.
The social security system (National Social Security Fund - NSSF) since 1 January 2018 applies to all employers regardless of numbers of employees, offering healthcare and occupational accident or disease benefits (medical care, permanent total and temporary total disability, and survivor benefits). The pensions and unemployment elements are not yet operational.