The Covid-19 impact has triggered a significant change in the life-assurance industry, which is expected to contract by 3 to 5 per cent this year, said Sara Lamsam, president and chief executive officer at Thai Life Assurance Plc.

Singapore based Phillip Life Assurance Plc has launched its first office in Cambodia following the issuance of a insurance license by the Ministry of Economy and Finance Cambodia on June 29, 2018, the company’s director and executive vice president Noppol Beokhaimook said on Monday.