Cambodia Investment Review
Prudential Cambodia and ACLEDA Bank marked a decade of successful partnership, throughout the course, the two alliances have joined forces in protecting thousands of Cambodian families and helping lives progress.
On 13 January 2023 – the 10 Years of Partnership celebration event was organized at Sokha Hotel presided over by:
- Dr. Hor Sovathana, Deputy Director General of the Insurance Regulator of Cambodia
- Mr. Heng Bomakara, Deputy Director General of Supervision Department General of The National Bank of Cambodia
- Dr. In Channy, the President & Group Managing Director of ACLEDA Bank
- Mr. Huy Vatharo, the Chairman of Insurance Association of Cambodia
- Mr. Sanjay Chakrabarty, the CEO of Prudential Cambodia
It was also participated by top managements of ACELDA Bank Plc. And Prudential Cambodia.
The annual event this year has highlighted how Prudential Cambodia and ACLEDA Bank have together achieved its remarkable result in 2022, while demonstrating their outlooks and commitment for 2023 strategic growth and wider outreach to more Cambodian families in helping them build more fulfilling future heads.
More than 200,000 customers and over $14M claims approved
As of December 2022, the partnership has had more than 200,000 customers and approved over $14 million in claims. This highlights the effectiveness of the partnership in protecting Cambodian families and helping them progress.
2023 marks a significant milestone for the partnership as it reaches a decade of protecting and securing the financial futures of Cambodians. Prudential is also celebrating 175 years of providing life, health insurance, and asset management worldwide.
Mr. Heng Bomakara, Deputy Director General of the Supervision Department General of The National Bank of Cambodia said that the partnership between Prudential and ACLEDA Bank has allowed for a wide range of insurance products and services to be offered to customers, catering to their specific needs. In addition, the partnership was the first to receive a corporate agent model approval from the National Bank of Cambodia in providing insurance products and services to customers.
Committed to developing Cambodia’s insurance sector
The partnership has not only been beneficial for customers, but it has also allowed for the expansion into new markets and strengthened the position in the industry. Dr. Hor Sovathana, Deputy Director General of the Insurance Regulator of Cambodia emphasized the importance of developing the insurance sector in Cambodia, where the insurance sector has been identified as an important source of investment.
The insurance products and services offered through the bancassurance partnership have helped to increase access to insurance in Cambodia, which is essential for the financial well-being and security of individuals and families, she added.
The CEO of Prudential Cambodia, Sanjay Chakrabarty, expressed his gratitude to the Insurance Regulator of Cambodia and the National Bank of Cambodia for their support and guidance throughout the past decade. He also highlighted the importance of digitalization in the future of the partnership, as it will improve the customer experience and make it easier for people to access insurance coverage.
As we reflect on the past 10 years and the past 175 years of Prudential’s history, it is clear that we have a strong foundation for continued success. “I am confident that our partnership with ACLEDA Bank will continue to thrive in the years ahead”, he added.
Dr. In Channy, the President & Group Managing Director of ACLEDA Bank commented that for the last 10 years, Prudential and ACLEDA Bank have been providing financial planning needs for Cambodians. We began our partnership through ACLEDA Bank’s 43 operational networks in 2013 and expanded to 263 branches across the nation in 2022.
Additionally, we remain committed to developing financial markets, supporting key infrastructure projects in Cambodia, and advancing financial inclusion through investing in digital capabilities while being responsible corporate citizens.
