Health Insurance (which belongs to ”General Insurance”) in Cambodia accounts in 2020 for a total premium $20,995,224. The Year on Year growth was 12.4% while it varied from 12.2% to 30% since 2015.
The Medical segment is growing at a much faster pace than Life Insurance and Micro-Insurance.
There are currently 16 General Insurance companies in Cambodian who represent several Health Insurance products & brands.
SafetyNet Cambodia has attained a 18% market share and 97% Customer satisfaction in 2020.
The commercial market is basically splitted into the Corporate/ Group segment and the Family/ Individual segment. Currently, the former one constitutes the majority of the premiums but the industry is seeing potential growth in both due to growing understanding of the needs.
The Insurance industry is now regulated under INSURANCE REGULATOR OF CAMBODIA. The regulator makes sure that the industry is strictly ruled and controlled to underpin markets, protect the rights and safety of citizens and ensure the delivery of services.