Cambodia Investment Review
Forte Insurance (Cambodia) Plc. and Cambodia Reinsurance Company (Cambodia Re) have jointly launched Cambodia’s first high-level seminar focused on solar energy insurance and risk protection, as investment into the Kingdom’s renewable energy sector continues to expand rapidly.
The seminar, titled “Solar Energy and Insurance: Protecting Investments and Delivery,” was held at the Raffles Hotel Le Royal and brought together senior officials, insurers, banks, project developers, contractors and international reinsurance experts to discuss how Cambodia can better manage the growing financial and operational risks associated with solar energy infrastructure.
The event was presided over by H.E. Ros Seilava, Secretary of State at the Ministry of Economy and Finance, alongside Dr. Hor Sovathana, Deputy Director General of the Insurance Regulator of Cambodia.
As Cambodia continues to expand both utility-scale solar projects and rooftop solar systems across factories and commercial buildings, industry stakeholders warned that the sector faces increasing exposure to environmental and technical risks, including storms, flooding, fire hazards and battery energy storage system (BESS) failures.
Given the scale of investment involved, which organizers said can reach hundreds of millions of dollars, local insurers alone are often unable to fully absorb the risks, increasing the importance of international reinsurance partnerships.
Insurance Seen as Key to Solar Sector Expansion
Mr. Youk Chamroeunrith, Chairman of Forte, said the company aimed to provide stronger protection mechanisms for businesses investing into Cambodia’s green energy transition.
“Investing in solar energy and battery energy storage systems requires substantial capital from investors, business owners, and local banks,” he said. “Forte deeply understands this challenge, and we are fully prepared to provide a robust financial shield for their businesses.”
During the seminar, participants were presented with insurance products covering multiple phases of solar energy projects, including transportation and installation risks, operational asset protection and business interruption insurance.
Organizers highlighted business interruption insurance as a particularly important tool for investors and lenders, as it can help offset revenue losses or increased electricity costs if power generation systems are forced offline due to damage or technical failure.
International Reinsurance Networks Critical for Financing
Mr. Huy Vatharo, CEO of Cambodia Re, said the long-term financial sustainability of solar projects depended heavily on whether projects met international insurance and underwriting standards.
“Today’s collaboration between Cambodia Re and Forte acts as a bridge, enabling local and international investors to transfer risks to Global Reinsurance Pools,” he said. “This is the crucial key to enhancing bankability and building greater confidence for banks to provide financing.”
The seminar also featured participation from international reinsurance and risk management specialists from Aon Reinsurance Solutions, Swiss Re Asia, China Belt and Road Reinsurance Pool, CHINA RE P&C and CPIC.
Experts shared insights into underwriting standards, risk engineering, documentation requirements and historical loss experiences across regional and global energy insurance markets. Organizers said the discussions were designed to help Cambodian project owners better understand how to secure long-term premium stability and reduce operational risks.
Renewable Energy Growth Brings New Risk Management Demands
The event comes as Cambodia accelerates its renewable energy ambitions, with growing private sector interest in solar infrastructure amid rising electricity demand and regional sustainability commitments.
Forte said the collaboration with Cambodia Re reflects a broader push toward strengthening risk governance and supporting more resilient infrastructure development as Cambodia positions itself within the regional green economy.
Founded in 1999, Forte Insurance is one of Cambodia’s largest insurance groups and currently holds a B+ international financial strength rating and AA+(KH) national scale rating from GCR Ratings, an affiliate of Moody’s.
Cambodia Re was established in 2002 under the Ministry of Economy and Finance and later transitioned into a joint venture structure in 2004 to support the growth and technical development of Cambodia’s insurance and reinsurance sector.
