Monday, March 25, 2019

Forte Insurance recognized best in class for fifth year running

Leading insurer continues setting local industry standards with yet another Best General Insurance Company award

Forte Insurance (Cambodia) PLC continued to set industry-leading benchmarks when the nation’s largest insurer was recognized as the Kingdom’s Best General Insurance Company for the fifth consecutive year.

Presented by acclaimed international magazine Global Banking & Finance Review, the award is again testament to Forte’s innovative personal and corporate products. These offerings, alongside a strong passion to develop the industry and a customer-first approach to business, have been the insurer’s guiding principles since setting up shop in the capital in 1998.

Today, as it celebrates its 20 th anniversary this year, Forte remains the local market share leader, having held that position since 2003. It currently commands a leading 45.6% share, with $39.5 million in total premiums in 2018.

To make its celebrations sweeter, Forte recently received its license to venture into life insurance via Forte Life Assurance (Cambodia) PLC. Another current highlight includes the acquisition of Tokojaya Lao Assurance Co. Ltd, which gave the insurer a foothold in Lao PDR.

“Being recognized by our peers and clients for five straight years is truly humbling and a great honor,” said CEO Charles Cheo. “We look forward to repaying their faith and support by making a greater difference in terms of value, innovation and overall customer experience.”

Cheo dedicated the award to Forte’s staff, some of whom have been with the company for over a decade.

“Quality customer-first products and services are only possible with dedicated and professional human resources,” he said. “We’re honored to work with people who combine local expertise, experience and insights to build long-term relationships with our clients, business partners and stakeholders.”

In 2019, Forte will aim to explore other regional markets while focusing on their core strengths - developing unique, localized offerings and creating further awareness of how insurance can positively impact the lives of Cambodians.

“We’re particularly excited about unveiling our new life insurance offering this year,” said Cheo. “With Forte Life Assurance, clients can expect a package that offers not only financial security and stability, but one that is also innovative, flexible and comprehensive.”

Global Banking & Finance Review awards are recognized throughout the global banking and financial community. Open to companies of all sizes, award winners are selected based on criterion that include innovation, achievement and strategy.