Kampong Speu Province: Friday 7 April 2023 Forte Insurance Cambodia officially launches its newest branch in Kampong Speu, located along National Road Number 4, with the goal of bringing its services to the wider community. The ceremony was held in the presence of His Excellency Bou Chanphirou, Director General of the Insurance Regulator of Cambodia (IRC), Mr. Phat Sophal, Chbarmorn City Deputy Governor, Mr. Youk Chamroeunrith, Group CEO of Forte Group, and Mr. Suy Channtharong CEO of Forte Insurance, and other esteemed guests.
“As one of the nearest provinces to Phnom Penh, Kampong Speu has always been a priority for our geographical expansion, and I am delighted that we have opened a branch here. “The opening of the branch in Kampong Speu reflects the concerted efforts and strong commitment of Forte to bring the best insurance services and contribute to the growth of our communities,” said Youk Chamroeunrith, Group CEO of Forte Group.
The reason behind opening a new branch in Kampong Speu is to tap into the potential of the province due to the quickly developing infrastructure, population and living standards of the locals, compounded by the proximity to Phnom Penh, which makes travelling and running businesses in the province very favorable.
Since its founding in 1999, Forte has developed the largest market share in Cambodia for general insurance, while also expanding into life insurance in 2019. It has also achieved regional recognition as Domestic Insurer of the Year by Insurance Asia Awards for the second time and Best General Insurance Company in Cambodia by Global Banking and Finance Review for 9 years in a row. Forte has also recently launched a brand refresh in late 2022 which successfully repositioned Forte as a fresh, modern, and forward-looking company to steer the local insurance industry to grow even stronger, well into the future.
“Forte continues to hold a strong position in the industry with 45% of the market share. In 2022, Forte accounted for 60 million dollars in total gross premiums and 19 million dollars in claims paid out across the country. This is nearly half of the national total in both categories,” Mr. Suy Channtharong, CEO of Forte General Insurance stated.
“Trust is one of the key factors that allow Forte to remain the leading insurance company in Cambodia. We could not have achieved all these feats without the unwavering support of our customers, partners, and stakeholders,” he added.
Remarkably, Forte has now expanded its branch network to five strategic locations nationwide in Siem Reap, Battambang, Kampong Cham, Preah Sihanouk, and the latest location being Kampong Speu. This is in addition to its headquarters in Vattanac Building (Floor 18) and View Park branch office in Phnom Penh's Sangkat Srah Chak. With plans to expand to even more provinces, Forte looks ahead to provide its bespoke insurance services to the wider local community.
Customers in Kampong Speu can now visit the newest branch, which is located along National Road Number 4, Chbarmorn City, Kampong Speu Province, next to Kampong Speu Referral Hospital. The office is open from Monday to Friday from 8am until 5:30pm and on Saturday from 8am to 12pm.
About Forte Insurance
Forte is leading the growth of the insurance industry in emerging Southeast Asia with its vision to protect and empower everyone in the region for a better future – one person, one business at a time.
Founded in Cambodia in 1999, Forte has remained true to its mission to provide innovative customer-focused products and services, build capacity in people, and contribute to the progress of the insurance industry in the markets they operate in. Offering both general and life insurance in Cambodia, and general insurance in Laos, Forte is the preferred partner of multinational insurers.
Forte is also an employer of choice which offers a collaborative workplace that rewards achievement and provides opportunities for employees to grow through professional education and development.
Find out more from our website: www.forteinsurance.com