To ensure the safety and efficiency for controlling and protecting the risk for the reinsurance, the Insurance Regulator of Cambodia (“IRC”) enforces a new regulation, namely “PRAKAS NO. 44 ON RULES AND GUILDELINES FOR REINSURANCE” issued on 12 July 2024, (“PRAKAS No. 44”) that regulates specifically the terminologies, risk management and retention, reinsurance agreement and policy, diversification of reinsurance, obligation to report, and provides further information on the sanction provisions to impose on the non-compliance matters.

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