One of the largest insurers in the world is has now started selling in this Southeast Asian country.
Manulife Financial will now be selling life insurance in Cambodia now that it has made the first official announcement regarding the grand opening of its first office in located in Phnom Penh.
Considered an historic event, the insurer released the details at the Raffles Hotel Le Royal.
There, Manulife partners met with many guests, including government officials, its own partners, and local media, all of whom took part in a celebration that marked the insurer’s entrance into the country’s life insurance marketplace. All of this was presided over the Minister attached to Prime Minister, H.E. Dr. AUN Porn Moniroth, who is also the Secretary of State of The Ministry of Economy and Finance.
The Manulife senior executive vice president and General Manager for Asia, Bob Cook, made the keynote address, in which he stated that “In the month in which we celebrate our 125th global anniversary, we find it so fitting to start this new and exciting chapter, serving the people of Cambodia. We would like to thank the Cambodian government for their great support in making today possible. We look forward to continue working with them to make a success of this great opportunity.”
David Wong also spoke at this event. He was the Manulife (Cambodia) PLC senior vice president and Chairman. He expressed his deep appreciation for the support from the Canadian and Cambodian governments on behalf of the insurer.
Wong also stressed the importance of the Cambodian life insurance marketplace to Manulife Asia.
He highlighted the commitment of the insurer to this market by explaining that it sees Cambodia’s potential, with its emerging middle class within a population of about 15 million people and that it is a notable area of growth in this part of the world.
Manulife Financial, a financial services organization based in Canada, has been among the world’s leading organizations for the last 125 years. This move into Cambodia is only the most recent of the many ways in which it is stretching its arms outward in the life insurance marketplace in terms of both geography and innovation to its services and products.