Tokio Marine unit establishes representative office in Cambodia

Tokio Marine & Nichido Fire Insurance, a subsidiary of Tokio Marine Holdings, has established a representative office in Phnom Penh, Cambodia, as it looks to support the growing number of Japanese companies operating in the market.

The insurer said that economic growth remains strong in Cambodia and the insurance market has been steadily expanding. As infrastructure has improved, Japanese companies have been investing and expanding their operations in Cambodia to take advantage of the relatively low labour costs.

In 2015, Tokio Marine Insurance (Thailand), a subsidiary of Tokio Marine & Nichido Fire Insurance, set up a business development department and has been providing insurance products and services to Japanese companies in Cambodia through affiliated local insurance companies.

But as it anticipates further growth in the insurance market in Cambodia it has now taken the next step in opening this representative office.

“With a view of further growth in the insurance market in Cambodia, we have decided to open a representative office in Phnom Penh. 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,” the company said.

Get the latest re/insurance news sent to your inbox every day -  Sign up to our free email newsletters

Today’s stories

Ascot poaches duo from WKFC to form new MGA Ethos

Direct Insurance targets LatAm growth through new hires

Brit poaches Aspen underwriter into excess casualty role

Willis Towers Watson hires regional senior exec from Marsh USA

US reinsurers enjoyed growth in H1 2017

Don't miss our insurtech email newsletter - sign up today