TOKYO -- Dai-ichi Life Holdings will expand into Cambodia, anticipating rising demand for insurance in Southeast Asia as the region's economy grows.
The Tokyo-based insurer will as early as this month set up a wholly owned subsidiary in Cambodia, a first for a Japanese life insurance company, aiming to begin operating in the fiscal year starting in April. It will gradually invest around 4 billion yen ($37.7 million) in the Phnom Penh-based unit to fund its expansion.
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