Malayan Banking’s Insurance and Takaful arm, Etiqa, Expands Operations in Cambodia

Etiqa, the insurance and Takaful arm of Malayan Banking (Maybank), has entered into Cambodia, after Etiqa General Insurance (Cambodia) (EGI) and Etiqa Life Insurance (Cambodia) (ELI), received operating licenses from Cambodia’s Ministry of Economy and Finance.

Talking of the expansion, Etiqa Insurance and Takaful Group Chief Executive Officer, Kamaludin Ahmad, stated that Etiqa’s decision to penetrate the Cambodian market was driven by the fact that up to 97% of Cambodians were uninsured.

In a statement issued on the 21st of May 2020, Etiqa stated that the two insurance operators, EGI and ELI, currently offered fire insurance as well as personal accident insurance.