Cambodian National Insurance Company
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History
CAMINCO was officially incorporated in 1990, becoming the first insurance company in Cambodia. It began its operations during June 1993.[1]
In 2000, the Insurance Law was passed and in 2001, the Sub-decree Nº132 on Insurance came into force. As a result, CAMINCO restructured into a state owned enterprise. CAMINCO was able to meet the capital requirement of US$7 Millions, the insurance company to do so, and the only company to receive the 5-year license on General Insurance Services from the Ministry of Economy and Finance.[1]
On Monday 6 April 2009, the Royal Government of Cambodia sold 75% of its shares in the formerly state owned CAMINCO insurance company for US$5.7 million.[2] The Royal Government however, retains a 25% share in the company. The existence of the deal was not widely known.[3] Cheam Yeap, the head of the National Assembly's banking and finance committee and a Cambodian People's Party MP, told the Phnom Penh Post that he knew nothing about it.[4]
Business partners
- Swiss Reinsurance Company
- Mitsui Sumitomo Insurance Company
- Tokio Marine & Fire Insurance
- Toa Reinsurance Company
- Korean Reinsurance Company
- S.A. Jean Verheyen
- Malaysian Reinsurance Berhad
- BEST RE
- General Insurance Corporation of India (GICI)
- Asian Reinsurance Corporation
- Ho Chi Minh City Insurance Company (Bao Minh)
- Professional Insurance Brokers
See also
References
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- ↑ a b "Company Profile" Script error: No such module "webarchive".. Cambodian National Insurance Company. Accessed 2010-01-05
- ↑ Caminco Sale. Google Groups. Accessed 2010-01-05
- ↑ Caminco Sale Confirmed. Derkeiler. Accessed 2010-01-05
- ↑ "Caminco Sale Confirmed. Phnom Penh Post. Accessed 2010-01-05
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