Cambodia Investment Review

Forte Certified AA+ Financial Strength Rating On A National Scale & B+ On An International Scale

Forte Certified AA+ Financial Strength Rating On A National Scale & B+ On An International Scale

Cambodia Investment Review

Forte Insurance (Cambodia) Plc has been given an upgrade in their credit ratings from Global Credit Rating (GCR), a renowned financial rating agency. Forte’s international scale financial strength rating has been elevated to B+ from B, while their national scale rating has been lifted to AA+ (KH) from AA (KH).

This upgrade is a result of improved capitalization and liquidity, which have ultimately strengthened Forte’s financial standing. Forte’s ratings boost is also attributed to their competitive edge, sound asset management and robust financial profile.

Certificate from Global Credit Rating

 

Forte Insurance offers a wide range of insurance solutions for both businesses and individuals, with the goal of safeguarding them from uncertainties and risks that exist in an ever-changing world. Their insurance product portfolio includes coverage for businesses and individuals such as Fire, Group Personal Accident, Home and Property, Marine and Cargo, Contractor’s All Risk/Erection All Risks, Aviation, Automobile, Health Insurance, Public Liability as well as other areas.

Currently, Forte holds a leading position in Cambodia’s general insurance market due to a strong performance through rapid growth in gross premiums and good diversification across different lines of business. The upgrade in their credit ratings is a testament to their strong financial performance, prudent underwriting strategies, and leading market position. It brings a positive signal of Forte’s potential for continued growth and stability in the future.

Mr. Pin Nirorn, Group Chief Financial Officer of Forte

Nirorn Pin, Group Chief Financial Officer, commented, “We are delighted to receive this credit rating upgrade from GCR because it reflects Forte’s lower credit risk and strong financial performance. On top of that, this achievement demonstrates our creditworthiness, commitment to customers, and overall business confidence. Combined with the various accolades we have been receiving and the hard work of our team, this further solidifies our capacity to obtain better financing conditions, to support the long-term sustainability of our business.”

In addition to being recognized by Global Credit Rating, Forte recently received Cambodia’s Best Inclusive Business Company award at the Sixth ASEAN Inclusive Business Summit, which took place in Bali, Indonesia, in late August. Forte also received a third consecutive regional award from Insurance Asia for Domestic General Insurance of the Year. All of these accomplishments reinforce Forte’s standing both in Cambodia and the region. Nirorn Pin continued, “With this upgrade in our credit rating, we are confident that Forte is poised for continued growth and success in the years ahead. We would like to express gratitude for the ongoing support received from both our customers and partners.”

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