Prevoir Kampuchea Micro-life Insurance Public Limited Company (PKMI), a subsidiary of French insurer Groupe Prevoir, has been launched in Cambodia after receiving an operating license from the Ministry of Economy and Finance. Its goal is to develop insurance products for low- and medium-income earners. PKMI so far has partnered with one unnamed Cambodian Microfinance Institution (MFI) and is currently in negotiations with other microfinance players, as well as NGOs and banks.
Groupe Prevoir, an independent insurance group that specializes in life insurance, was first established in 1910, and operates in France, Portugal, Poland, Vietnam, Brazil and now Cambodia. As of 2010, the firm reports writing premiums totaling EUR 478 million (USD 628 million).
About Prevoir Kampuchea Micro-life Insurance:
Established in 2011 in Cambodia, Prevoir Kampuchea Micro-life Insurance is a subsidiary of Group Prevoir, a French insurance group. Its aim is to offer insurance to products for low- and medium-income earners. No financial data is available on the organization as of 2011.
By Ariana Malushi, Research Associate
Sources and Additional Resources:
The Phnom Penh Post: “First micro-insurer launches in Kingdom”
Wikipedia: Groupe Prévoir
MicroCapital.org Story, November 21, 2011 “MICROCAPITAL BRIEF: Grameen Crédit Agricole Microfinance Foundation Lends $2m to Microfinance Institutions Hekima of Congo; Findev of Azerbaijan; Chamroeun, TPC of Cambodia” http://www.microcapital.org/microcapital-brief-grameen-credit-agricole-microfinance-foundation-lends-2m-to-microfinance-institutions-hekima-of-congo-findev-of-azerbaijan-chamroeun-tpc-of-cambodia/
MicroCapital.org Story, September 10, 2011 “MICROCAPITAL BRIEF: responsAbility Invests $13.5m in Microfinance Institutions (MFIs) VisionFund Cambodia, Equity Bank of Kenya”
MicroCapital Universe Profile: Prevoir Kampuchea Micro-life Insurance (PKMI)
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