Cambodia Investment Review
Cambodia’s insurance industry is seeking to expand its role in the national economy after gross written premiums rose to more than $367 million in 2025, up from around $300 million in 2021, according to the Insurance Regulator of Cambodia.
Officials said the sector recorded average annual growth of more than 6% over the last five years, supported by a rising number of insurers, broader public awareness and increasing demand for risk protection products.
The figures were outlined during a dissemination seminar for the Cambodia Strategic Development Plan for the Insurance Sector 2025-2030, which aims to deepen market penetration, strengthen confidence in the industry and improve the country’s social safety net.
Bou Chanphirou, Director General of the Insurance Regulator of Cambodia, said the insurance sector has become an increasingly important part of Cambodia’s financial system as businesses and households face greater uncertainty.
“The insurance sector plays an important role as an effective mechanism in addressing the financial burden when risks arise, aiming to strengthen the social safety net and promote resilience in society,” he said.
Market Expands In Size and Players
Cambodia’s insurance market has expanded steadily in recent years, with the number of licensed entities rising from 83 in 2021 to 112 in 2025.
That total includes 39 insurance companies, 64 intermediary firms and nine insurance support businesses. Within the insurance company segment, Cambodia currently has 18 general insurers, 14 life insurers, six micro-insurance companies and one reinsurance firm, alongside 21 insurance brokers.
Total industry assets also climbed sharply to nearly $1.3 billion in 2025, compared with approximately $850 million in 2021.
The regulator said the growth reflects not only rising premiums, but also stronger institutional capacity, improved risk management and a broader role for insurance in economic resilience.
“The growth of the insurance sector not only reflects the growth of the insurance market, but also reflects improvements in risk management, strengthening the social safety net, and enhancing socio-economic resilience,” Chanphirou said.
2030 Growth Targets
Under the new strategic plan, Cambodia is targeting a significant increase in insurance penetration over the next five years.
Officials said the sector aims to lift insurance contribution to the economy to around 2% by 2030, compared with 1.11% in 2025. Insurance density — a measure of premium spending per capita — is projected to rise to approximately $45 per person by 2030 from $20.95 currently.
The targets suggest policymakers want to move Cambodia closer to regional peers where insurance usage is more widespread across life, health, property and commercial segments.
Confidence and Inclusion Focus
The regulator said the 2025-2030 roadmap is designed to increase public trust, improve awareness and encourage wider participation from both consumers and businesses.
As Cambodia’s economy continues to diversify, analysts say insurance products are likely to become more relevant for SMEs, infrastructure projects, agriculture, healthcare and the country’s growing middle-income population.
Officials at the seminar called on ministries, financial sector bodies and private industry participants to work together to implement the plan, positioning insurance as a key pillar of Cambodia’s longer-term financial stability and inclusive economic development.
