Tokio Marine & Nichido Fire Insurance (TMNF), a Tokio Marine Holdings subsidiary, has expanded into the fast developing insurance market of Cambodia with the establishment of a representative office in Phnom Penh on 22 August.
With the ongoing development of the country’s infrastructure, Japanese firms have been investing and moving into Cambodia to take advantage of the relatively inexpensive cost of labour, opening up new opportunities for insurance and reinsurance in the region.
The TMNF initially established the Mekong business development department in 2015 to operate through affiliated local insurers to provide insurance products and services to Japanese firms in Cambodia.
The opening of the Cambodia office comes as an expansion of TMNF’s Cambodia business and in anticipation of further growth in the local market.
TMNF said; “We will continue to research the insurance market in Cambodia through this office hereafter, as well as deliver “safety and security” to customers, mainly Japanese companies, by offering insurance products and services through referral of affiliated companies.”
