| Public Bank Goes Into General Insurance Business In Cambodia |
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KUALA LUMPUR, Sept 3 (Bernama) -- Public Bank Bhd group has set up a subsidiary in Cambodia, CampuBank Lonpac Insurance plc (CampuBank Lonpac), to undertake general insurance business.
In a filing with Bursa Malaysia here today, Public Bank said the 55-percent-owned subsidiary commenced operations in Phnom Penh, Cambodia on Aug 30 upon obtaining its insurance licence from Cambodia's Ministry of Economy and Finance.
The remaining 45 percent will be held by LPI Capital Bhd, it said.
Public Bank said CampuBank Lonpac would carry out general insurance business in Cambodia with the main insurance products to be offered included fire, motor, engineering, workmen's compensation and personal accident insurance.
The company said the insurance industry in Cambodia was currently at the infancy stage of development.
"With the strong growth of the Cambodian economy, there is potential for the development of the insurance industry in the country," it said.
-- BERNAMA
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