The General Insurance Association of Cambodia (GIAC) was officially established in 2005 with four member companies, three general insurers and one national reinsurer. Life insurance did not exist until 2012. Over time, all other general insurance companies established and licensed in a later time had also joined the GIAC. Given the fact that life insurance is a newly-established market with three companies in operation, all non-life and life insurers agreed to form up a single insurance association in the country by changing the General Insurance Association of Cambodia to the Insurance Association of Cambodia in 2013.
At presence, all licensed non-life and life insurers and the national reinsurer are members of the IAC.
IAC’s key objectives are: