Cambodia’s insurance industry saw record growth last year, with total gross premium surging 35.6% to $113.6mn from $83.7mn in 2015, according to a report from the Insurance Association in Cambodia (IAC). IAC chairman Huy Vatharo said the report was a good indication that Cambodia’s insurance sector will continue to grow. Cambodia’s insurance penetration rate is the lowest in ASEAN. In comparison, Malaysia’s premiums account for 3.3% of GDP in the life segment and 1.8% in the non-life segment. Singapore’s life insurance premiums are at 4.3% of GDP and non-life premiums stands at 1.5%. (Source: Khmer Times)