Insurance Sector Expands to 112 Firms, Poised to Double Economic Contribution by 2030

PHNOM PENH, April 20, 2026 (KPT) — Kingdom’s insurance industry has recorded strong growth, with the number of licensed firms rising to 112 in 2025, underscoring increasing market confidence and the sector’s expanding role in the national economy, officials said Monday.

Bou Chanphirou, director general of the Insurance Regulator of Cambodia, said the industry has grown steadily over the past five years, with institutions increasing from 83 in 2021 to 112 in 2025. These include 39 companies, 64 intermediaries and nine support service providers.

Financial performance has strengthened in parallel. Gross premiums rose from about $300 million in 2021 to more than $367 million in 2025, reflecting an average annual growth rate above six percent. Total assets expanded from $850 million to nearly $1.3 billion.

Chanphirou said insurance is becoming a key pillar of Cambodia’s financial system, helping households and businesses manage risk, reduce vulnerability and strengthen social protection. In 2025, the sector contributed 1.11 percent to GDP, with density reaching $20.95 per capita. Coverage extended to risks valued at more than $111 billion, while claims paid totaled nearly $68 million.

The regulators aim to double the sector’s contribution to around two percent of GDP by 2030, with density expected to rise to $45 per capita. The Insurance Sector Development Strategy 2021–2030 outlines reforms in strategic direction, market development, regulatory strengthening and cooperation, designed to build resilience and expand opportunities for farmers, SMEs and consumers.

“As global uncertainty increases, the role of insurance in safeguarding against unexpected risks becomes even more essential,” Chanphirou said.