Grand China Life Insurance collaborates with Chief Bank

Insurance company Grand China Life Insurance has signed a memorandum of understanding (MoU) with Chief (Cambodia) Commercial Bank Plc to further contribute to the development of the insurance sector in the Kingdom.

The MoU will see the bank refer clients to the suitable insurance products and services offered by the Grand China Life Insurance. The insurance company will be offering a diverse range of insurance services in various sectors, be it loans or even education.

CEO of Chief Commercial Bank Soeung Morarith says the insurance industry in the Kingdom has been recording progressive growth over the years and partnerships such as the one formed between the bank and insurance company will fuel the growth.

“The commercial bank is very pleased to cooperate with Grand China Life Insurance to contribute to the development of the Cambodian insurance industry,” he said to Khmer Times.

“Cambodia’s national income was only USD288 in 2000, but this increased to USD830 by 2010 and reached USD1,548 in 2018,” he said.