Cambodia a promising market for LPI Capital

KUALA LUMPUR: LPI Capital Bhd is upbeat on its prospects in Cambodia, where it set up CampuBank Lonpac Insurance Plc last August with Public Bank Bhd.

Executive director Tee Choon Yeow said Cambodia was a “very promising” market for the group.

“Cambodia is a completely new market and there are only about five licensed insurers in this country. At the same time, the insurance industry penetration is very low, less than 10%. We are looking forward for more profit in Cambodia,” he said after the company AGM yesterday.

LPI Capital, which has a 45% interest in CampuBank Lonpac Insurance, provides general and personal insurance products through subsidiary Lonpac Insurance Bhd.

The company aimed to be the leading general insurer in Cambodia, Tee said, adding that CampuBank Lonpac Insurance currently had no agents but would soon be recruiting. more