life insurance

 Cambodian National Insurance Company

 Cambodian National Insurance Company is a Cambodian private insurance company with 25% of its shares owned by the Royal Government of Cambodia. It is a subsidiary of Varyia BVB Insurance.

Cambodian National Insurance Company
Type
Private
Industry Insurance
Founded 1990
Headquarters Phnom PenhCambodia
Area served
Siem Reap, Sihanoukville, Banteay Meanchey, Kampong Cham
Key people
Duong Vibol, Managing Director
Services General, commercial, vehicle, home
Net income
Decrease US$ 100,000 (2008)
Parent Varyia BVB Insurance
Website CAMINCO.com.kh

Contents

 

  • 1History
  • 2Business partners

History

CAMINCO was officially incorporated in 1990, becoming the first insurance company in Cambodia. It began its operations in June 1993.

In 2000, the Insurance Law was passed and in 2001, the Sub-decree Nº132 on Insurance came into force. As a result, CAMINCO restructured into a state-owned enterprise. CAMINCO was able to meet the capital requirement of USD 7 Million, the insurance company to do so, and the only company to receive the 5-year license on General Insurance Services from the Ministry of Economy and Finance.

On Monday 6 April 2009, the Royal Government of Cambodia sold 75% of its shares in the formerly state-owned CAMINCO insurance company for US$5.7 million. The Royal Government, however, retains a 25% share in the company. The existence of the deal was not widely known. Cheam Yeap, the head of the National Assembly’s banking and finance committee and a Cambodian People’s Party MP, told the Phnom Penh Post that he knew nothing about it.

Business partners

  • Swiss Reinsurance Company
  • Mitsui Sumitomo Insurance Company
  • Tokio Marine & Fire Insurance
  • Toa Reinsurance Company
  • Korean Reinsurance Company
  • S.A. Jean Verheyen
  • Malaysian Reinsurance Berhad
  • BEST RE
  • General Insurance Corporation of India (GICI)
  • Asian Reinsurance Corporation
  • Ho Chi Minh City Insurance Company (Bao Minh)
  • Professional Insurance Broker
  • BVB

References

  1.  Cambodian National Insurance Company. Accessed 2010-01-05
  2.  Caminco Sale. Google Groups. Accessed 2010-01-05
  3.  Caminco Sale Confirmed. Derkeiler. Accessed 2010-01-05
  4.  “Caminco Sale Confirmed. Phnom Penh Post. Accessed 2010-01-05

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