ArrowArtboardCreated with Sketch.Title ChevronCrossEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Japan-Update

Japan's Dai-ichi Life plans foray into Cambodia

Insurer to tap into young and fast-growing economy

Foreign insurers have been drawn to Cambodia's relatively young population and growth prospects.

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.

The Cambodian unit will start off by offering insurance through local banks. Dai-ichi Life plans to employ about 100 local staffers there, including over-the-counter sales personnel and individual agents.

Dai-ichi Life entered Southeast Asia in fiscal 2006 with the acquisition of Vietnam's Bao Minh CMG Life Insurance and has worked since then to build up its presence in the region.

Cambodia has attracted a number of foreign insurers in recent years, thanks to its relatively young population and expectations of long-term economic growth. Bangkok Life Assurance, which counts Japan's Nippon Life Insurance among its major shareholders, entered the market in 2017.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media