Milestone entry marks insurer’s 10th market across Asia
FWD Group (“FWD”) today announced its official launch in Cambodia, expanding its footprint across Asia to 10 markets.
The move into Cambodia is another landmark for FWD’s growth across the region and underlines its commitment to become a leading pan-Asian insurer by changing the way people feel about insurance and delivering fresh and innovative experiences for customers.
Huynh Thanh Phong, FWD’s Group Chief Executive Officer said, “Cambodia has quickly evolved into one of Southeast Asia’s most vibrant and dynamic economies. We see vast opportunities to bridge the protection gap and provide financial security to the people of Cambodia and I’ve no doubt our new team here will succeed in changing the way Cambodians feel about insurance.”
Rotha Chan, Chief Executive Officer of FWD Cambodia said, “I’m so proud of this unique opportunity to lead our business in this exciting new chapter for FWD in Cambodia. The future for FWD and for Cambodia is very bright and I’m confident we can achieve many successes together as a team and show Cambodians a new kind of insurance that can inspire them to celebrate living.”
Cambodia’s economy sustained an average GDP growth of over 7% of GDP for two decades between 1998 and 2019, making it one of the fastest-growing economies in the world. The country’s strong economic growth, stability, emerging middle class and continued support from the Royal Government of Cambodia present a healthy environment for the insurance industry. “We would like to deeply thank the Insurance Regulator Cambodia for their warm welcome, guidance and trust to us, especially for providing a good regulatory framework that we believe will allow FWD Cambodia as well as the whole industry to prosper,” added Rotha.