Cambodian National Insurance Company

Cambodian National Insurance Company (CAMINCO) is a Cambodian private insurance company with 25% of its shares owned by the Royal Government of Cambodia. It is a subsidiary of Varyia BVB Insurance.

Cambodian National Insurance Company
TypePrivate
IndustryInsurance
Founded1990 (1990)
Headquarters
Phnom Penh
,
Cambodia
Area served
Siem Reap, Sihanoukville, Banteay Meanchey, Kampong Cham
Key people
Duong Vibol, Managing Director
ServicesGeneral, commercial, vehicle, home
US$ 100,000 (2008)
ParentVaryia BVB Insurance
Websitecaminco.com.kh

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 USD 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

See also

References
  1. "Company Profile" Archived 2009-09-12 at the Wayback Machine. Cambodian National Insurance Company. Accessed 2010-01-05
  2. Caminco Sale. Google Groups. Accessed 2010-01-05
  3. Caminco Sale Confirmed. Derkeiler. Accessed 2010-01-05
  4. "Caminco Sale Confirmed. Phnom Penh Post. Accessed 2010-01-05


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