Phnom Penh, 07th October 2020 – AIA (Cambodia) Life Insurance Plc. (“AIA Cambodia”) proudly inaugurated 3 new branches in 3 different provinces: Kampong Cham, Battambang and Kampot. The impressive expansion is following AIA’s entry into Cambodia in 2017, having launched in the country with an official license granted by the Ministry of Economy & Finance. The new branches aim to provide easy access to innovative life insurance solutions to meet the needs of the people in across Cambodia.
The inauguration was held digitally, with all 4 locations connected in a conference, the main hub being at Phnom Penh’s Rosewood Hotel. The event was presided over by His Excellency Mey Vann, Delegate to the Royal Government in charge as Director General of the General Department of Financial Industry, as well as by Honourable delegates from the Ministry of Economy and Finance and the Insurance Association of Cambodia, business partners and senior AIA executives.
Highlighting the importance of AIAs presence across the nation, His Excellency Mey Vann stated that: “Through the inauguration of the three branches, I firmly believe that it’s a privilege for the people living in these regions have to access to life insurance products and services, and an important financial safety tool provided by AIA (Cambodia), putting people at ease”.
The event was also remotely joined by AIA’s Regional Chief Executive Officer, Tan Hak Leh, who called in from Singapore. Mr. Hak Leh emphasized that: “For more than one century, AIA has served Asia Pacific with utmost pride, care, diligence and distinction, and since our record-breaking IPO in 2010, AIA is now the biggest life insurance group in the world, fully dedicated to Asia. Despite the current headwinds caused by the COVID-19 pandemic, AIA remain optimistic about the future of Cambodia and AIA’s presence here. That’s why today, AIA is proud and excited to launch three new branches across Cambodia, to serve the people of Kampong Cham, Battambang and Kampot by providing them with the best class insurance solutions and services”.
AIA Cambodia has seen impressive growth in the market, in terms of the product offering and the capability of providing protection across the nation – all under the direction of AIA Cambodia CEO Pauline Teoh. Ms. Teoh remarked that: “It is with great pleasure we today inaugurate our three new branches in Cambodia, a key milestone in our ongoing story of fast growth. After a challenging and unprecedented 2020 due to the COVID-19 pandemic, we are keen to begin the return to business as usual and bring our market-leading insurance solutions to the people of Kampong Cham, Battambang and Kampot.”
The inauguration brings the total number of AIA Cambodia branches to four, following the launch of their Siem Reap branch last year. The year 2020 has seen AIA build its capability and expand, leading to enhanced coverage of the Cambodian public. AIA Cambodia now proudly protects more Cambodians nationwide.
About AIA Cambodia
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong SAR, Thailand, Singapore, Malaysia, Mainland China, South Korea, the Philippines, Australia, Indonesia, Taiwan (China), Vietnam, New Zealand, Macau SAR, Brunei, Cambodia, Myanmar, a 99 per cent subsidiary in Sri Lanka, and a 49 per cent joint venture in India.
The business that is now AIA was first established in Shanghai a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$284 billion as of 31 December 2019.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 36 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
