Cambodia Regulator Partners with University on Insurance Literacy

Int’l Desk: Cambodia’s insurance regulator has signed a partnership with a leading business university to raise public understanding of insurance and train more professionals for the industry.

The Insurance Regulator of Cambodia and ACLEDA University of Business formalised the agreement through a memorandum of understanding at the Non-Bank Financial Services Authority meeting hall, with IRC Director General Bou Chanphirou overseeing the ceremony, as reported by the Khmer Times.

Chanphirou described insurance as an essential financial instrument that supports economic growth, protects households and businesses from risk, and promotes long-term stability.

Cambodia’s insurance market produced roughly 367 million dollars in gross premiums in 2025, a 2.8 percent rise from the year before. The sector now includes 39 insurance companies and 65 intermediaries. Penetration stands at just 1.11 percent of GDP, while density reaches only 20.95 dollars per person.

Although the market continues to grow, Chanphirou acknowledged that it remains modest by regional and international standards and still has substantial room to expand. He pointed to two persistent obstacles: limited public knowledge of insurance products and a shortage of qualified staff.

To tackle these issues, the regulator has launched the Cambodia Strategic Development Plan for the Insurance Sector covering 2025 to 2030. The plan focuses on widening access to insurance services, improving financial literacy among the population, and developing skilled professionals through formal links with higher education institutions such as this new university partnership.