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Phnom Penh, 25 January 2024 - J Trust Royal Bank Plc., and Cambodia Life Micro Insurance “Camlife” Plc., part of Royal Group, have announced a Bancassurance Partnership aimed at providing a convenient one-stop service for their customers with affordable life insurance products for customers at different stages of life.

Took place at J Trust Royal Bank’s Head Office, the Bancassurance Partnership was signed by Mr. Makoto Kurokawa, Deputy Chief Executive Officer of J Trust Royal Bank and Mr. Un Sorasmei, Acting Chief Executive Officer of Camlife.

“J Trust Royal Bank is dedicated to offering high quality banking products and services that cater to the diverse needs of our customers,” expressed Mr. Makoto Kurokawa, Deputy CEO, J Trust Royal Bank. We are thrilled to announce our partnership with Camlife, which is Cambodia's first life insurance company. This bancassurance partnership is based on shared values and a commitment to delivering comprehensive financial solutions to our customers. It combines the strengths of both companies and provides financial security and protection for our customers' well-being.”

The collaboration marks the introduction of Simple One (SO) + Daily Hospital Cash (DHC), an affordable insurance product specifically designed to meet the needs of lower- and middle-income bank customers across the country. Through this collaboration, J Trust Royal Bank customers will be able to discuss their protection plan and purchase insurance product via Camlife Insurance Advisor stationed at J Trust Royal branches.

"We are delighted to join forces with J Trust Royal Bank," said Mr. Un Sorasmei, Camlife Acting CEO. "This partnership represents a significant step forward in our mission to provide comprehensive financial protection for all Cambodians."

"This partnership goes beyond offering just insurance products," emphasized Mr. Un Sorasmei. "It's about empowering individuals with the knowledge and resources to secure their financial future and protect their health. Our dedicated Insurance Advisors will be present at J Trust Royal Bank branches to provide personalized consultations and ensure customers receive the right solutions."

This partnership is a testament to our collaborative efforts in driving positive change and progress within the financial and insurance landscape of Cambodia. According to the Insurance Regulator of Cambodia (IRC), the total insurance premium reached over 87 million USD in Q3 2023, demonstrating a 2.6% increase compared to the same period last year. The IRC's 2021-2030 strategic plan further underlines the commitment to achieving an insurance penetration rate of 5.5% and an insurance density of $135 per capita by 2030.

About Cambodia Life Micro Insurance “Camlife” Plc.

“Camlife” was established on 21^st May 2012 and was the 1^st Life Insurance Company in Cambodia.​

“Camlife” became a member of Conglomerate Royal Group of Companies in 2015.​​

“Camlife” strategically transformed to be Micro-Insurance Company obtaining a license in 2021, and renamed to be Cambodia Life Micro Insurance “Camlife” Plc., known as “Camlife”.

It is now one of the leading micro life insurance in the Kingdom, providing the best of micro insurance plans with affordable prices and convenience.

About J Trust Royal Bank Plc.

J Trust Royal Bank is a joint venture between J Trust Co., Ltd, a Japanese diversified financial holding company listed on the Tokyo Stock Exchange, and Royal Group Finance Co., Ltd, one of Cambodia’s largest conglomerates. J Trust Royal Bank is one of Cambodia’s largest foreign banks with an ever-growing commitment to provide world-class financial services to Cambodian people and expatriates living in and working across the Kingdom with more than 700 employees servicing in 17 branches in Phnom Penh, Siem Reap, Battambang, Kompong Cham, and Sihanoukville provinces.