Forte, Cambodia's largest general insurer and fast-growing life insurer, and Huaxin Insurance Brokers, a related entity of China's Huadian Group, signed a Strategic Cooperation Agreement at Rosewood Phnom Penh on November 14, 2023.
The event was presided over by Youk Chamroeunrith, Group CEO of Forte Group, and Zhao Yanlin, Executive Chairman of Huaxin Insurance Brokers, with the management of both companies and distinguished guests in attendance.
Headquartered in Beijing, Huaxin Insurance Brokers is the only professional insurance service provider to have served hundreds of enterprises within the Huadian Group, one of China's largest state-owned power generation companies.
And the signing ceremony marks the progression of a solid, decade-long relationship built on trust and mutual benefit for both Forte and Huaxin Insurance Brokers.
Forte has worked with Huaxin to provide insurance cover on major power generation projects that have contributed to Cambodia's development, including the Lower Stung Russei Chrum Hydro-Electric Project – the largest hydropower development in the Kingdom – and the Sihanoukville Power Station.
Youk Chamroeunrith said: “We are committed to continue collaborating and building a strong relationship with Huaxin Insurance Brokers.
"We are confident that this collaboration will produce outstanding results that will benefit our organisations and the communities we serve."
Zhao Yanlin said: "This year marks the 10th year in which Huaxin and Forte have worked together.
"With our joint efforts, Huadian Group projects in Cambodia have obtained comprehensive insurance protection at favourable rates over the years.
"This signing will strengthen mutual trust and cooperation to improve the power supply infrastructure in Cambodia, while also contributing to the Kingdom's economic development.”
About Forte Insurance
Forte is leading the growth of the insurance industry in emerging Southeast Asia with its vision of protecting and empowering 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 that offers a collaborative workplace that rewards achievement and provides opportunities for employees to grow through professional education and development.
Recently, Forte has received an AA+ GCR global credit rating and been awarded Cambodia’s Best Inclusive Business Company 2023 at the sixth ASEAN Inclusive Business Summit – a testament to its financial and reputational strength in the region.
Visit the Forte website to find out more: www.forteinsurance.com.