Vattanac Capital, Level 18, No. 66 Monivong Blvd, Sangkat Wat Phnom, Khan Daun Penh, Phnom Penh City, Kingdom of Cambodia. P.O. Box 565 Tel: (+855) 23 885 077 / 066. Fax: (+855) 23 986 922 / 882 798

Email: info@forteinsurance.com / www.forteinsurance.com

CAMBODIAA FRESH PERSPECTIVE

CONTENTSChairman's Message

Our Mission & Vision

Milestones

Global Networking

Clients

Business Highl ights

Products

Innovation

Financial Highl ights

Gross & Net Premiums

Product Por tfol io

Community

Our People

Our Organizat ion

Our Locations

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CHAIRMAN'SMESSAGE

Corporate Prof i le l 04Carlo CheoChairman

Forte Insurance has come a long way.

When we started in 1998, we set out to build confidence in our clients and partners. We looked at developing the then-fledgling insurance industry in Cambodia. We aimed to become an industry leader, to being proactive to change and offering innovation-led products and services.

Today, Forte is the largest and leading insurer with a market share of 46.8%. Our client base, both corporate and individual, continues to achieve double-digit percentage growth. We’ve kept up with changing times by growing existing lines and launching innovative new products as the agriculture-based Weather Index and Family Health Protect.

I can safely say that we’ve accomplished our mission.

It’s time to move on. Time to look at the industry with a fresh perspective. Not as segments, statistics or demographics. But as individuals. Because every Cambodian deserves insurance, whether as a form of savings or to ensure peace of mind.

To move forward and function seamlessly as a whole, the Kingdom depends on the sum of its parts. With one-third of the nation covered, we’re now looking at extending protection over the rest of it. Our new guiding policy is simple: until Cambodia as a whole understands the importance of insurance, we won’t rest on our laurels.

I foresee exciting times for our clients, the industry and Cambodia.

MISSION

VISIONSTRIVE To cont inue leadersh ip in insurance serv ices

To be proact ive to change and be a leading innovator in serv ice of fer ings

To be a knowledge-based organ izat ion fue l led by st rong and dynamic loca l profess iona ls

To be the choice insurer for overseas agents and brokers

OFFER Super ior customer exper ience

Re levant products

ENDEAVOUR To ach ieve gross premiums of USD70 mi l l ion by 2020

To ba lance our por t fo l io between corporate and commerc ia l

VALUES In tegr i ty

Knowledge

Conf idence

D i l igence

To bui ld confidence in our cl ients and internat ional par tners, always keeping in mind our passion in developing the insurance industry in the Kingdom of Cambodia.

Corporate Prof i le l 05

MILESTONES

Jan 2015We move to Vattanac Capital

2015•We establish new subsidiary Forte Microinsurance

•We receive 3 in-country awards from Global Banking & Finance Review: Best Non-Life Insurance Most Innovative Insurance Product Best Insurance Customer Service Company

2016• We achieve 45% of the

General Insurance market according to the Insurance Association of Cambodia

• Open a 5th branch in Kampong Som

• Awarded Cambodia's Best General Insurance company

2014

45%

Corporate Prof i le l 07 Corporate Prof i le l 08

2005We introduce 3 new products

January 2006We become the f i rst and only MII & CII Training Center

2006August 2007We issue f i rst Oi l & Gas Pol icy

November 2007We launch another CSR Project with For te Vi l lage at Khum Prek Kampeus, Kandal Province

2007

We open a 3rd branch in Battambang

2011We are the f i rst company to introduce Agriculture Insurance for rubber trees, corn, etc.

2012We open a 4th branch in Kampong Cham

2013

May 2008We implement new full-cycle EDI system-IMS

2008July 2009We celebrate 10th-year anniversary

July 2009Our staff awarded Best Student of the Year 2008 at MII, Malaysia.

2009We fully pay the largest claim in Cambodian Insurance history costing more than US$10M

2010

We uti l ize a global network of agents, brokers and reinsurers to serve our cl ients and business partners.

From the US and Asia to Europe and the UK, our worldwide connections assures cl ients they receive solutions that equal international standards of service and quality.

We rely on our distr ibution channels of agents, brokers, banks and microfinance institut ions to reach as many cl ients as possible. This varied mix of channels also al lows us to manage different cl ient segments and offer bespoke solutions that f i t their specif ic needs.

For te continues to grow our network to provide al l- inclusive services to cl ients in every industry and from al l walks of l i fe, from just about anywhere in the world.

Our par tners include: Aviva, AXA, Baoviet Tokio Marine, Chubb, Endurance, QBE, RSA, Swiss Re, and Zurich.

GLOBAL NETWORKINGOur cl ient phi losophy is simple: we would not be here without them.

We place customer service above everything else. From del iver ing precise insurance

needs to adapting to evolving environments, For te’s understanding of our cl ients’

requirements gives us an edge in offer ing bespoke products and services.

We stay in close contact with our cl ients via our headquar ters in Phnom Penh and

branches in Siem Reap, Battambang, Kampong Cham and Sihanoukvi l le. An extensive,

nat ionwide network of agents adds to our local knowledge and provides cl ients with

f lexibi l i ty and on-t ime consultat ion.

With plans to open an addit ional f ive branches, For te looks to fur ther enhance our

customer service, forge closer t ies with our clients and impart the importance of insurance

on a larger scale.

CLIENTS

BUSINESS HIGHLIGHTSForte has been the leading insurer in Cambodia since 2003.

Today, we continue to be acknowledged as the industry leader and recognized for our

innovative, specialized products that cater to the needs of the local market.

Some of our recent business highlights include:

Market share

Forte commands a 46.8% market share. In 2016, our gross return premiums increased from

$27,894,139 to $32,985,061, with significant growth in our Automobile, Casualty, Medical

and Property segments.

Financial Strength

In December 2016, we were rated A+ with outlook accorded as Stable in terms of

claim-paying abilities on a national scale by Global Credit Rating Co. With regards to the

international rating scale, we obtained a B- with outlook accorded as Stable.

Recognition

We have received numerous accolades over the years. In 2017, acclaimed banking and

finance organization Global Banking & Finance Review recognized us with two in-country

awards. These comprise:

Best General Insurance Company

Best Insurance Customer Service Company

The Global Banking and Finance Review Awards honor institutions that stand out in their particular area of expertise in the finance industry. They recognize achievement, challenge, progress and inspirational change in finance globally.

Corporate Prof i le l 12

PRODUCTSForte’s extensive, var ied solut ions have one thing in common: they are developed in-house and tai lored to meet the specif ic needs of our cl ients.

We achieve this by continuously researching the needs of the local market and the suitability of products. An in-depth knowledge of ever-evolving business environments as well as individual characteristics and requirements are also crucial to offer value-add, innovative solutions.

Our range comprises personal, commercial and specialized products.A sampling of key areas includes:

Personal

Automobile

Personal Accident

Travel

Local and International Health

Home and Property

Others

Commercial

Property

Loss of Profit

Public Liability

Burglary

Accident & Health

Money

Fidelity Guarantee

Marine Cargo

Contractors’ All Risks

Others

Corporate Prof i le l 13

INNOVATIONInnovat ion dr ives Forte. Changing t imes, new business pract ices and the advent of technologies means i t ’s no longer feasible to st ick to tested offer ings to remain relevant.

But despite these changes, we believe our new products must share a similar trait to our previous offerings in that they meet the needs of their holders.

The introduction of Weather Index and Family Health Protect and a refresh of our Medi+ pol icy do diverge from tradit ional offer ings as Auto and Proper ty. But these new plans are in l ine with our vision to be proactive to change and be a leading service innovator.

These offer ings are also hoped to encourage the local industry to create relevant, t imely pol icies that benefi t al l businesses and every segment of the community.

Weather IndexWeather Index is aimed at farmers looking to protect their crops from damage due to drast ic weather condit ions. Cl imate change continues to affect the three-quar ters of the populat ion st i l l rely ing on farming as their main source of income.

By offer ing r isk mit igat ion, we look to sustain and even increase farming incomes despite what the weather may bring. Weather Index aims to contr ibute towards the agricultural sector ’s continued success, boost economic growth and reduce pover ty.

Family Health ProtectFamily Health Protect offers an affordable yet comprehensive insurance package for the entire family, whether local ly or overseas. The pol icy covers al l family members regardless of age and also offers coverage on exist ing i l lnesses.

Corporate Prof i le l 16

FINANCIAL HIGHLIGHTS

GROSS & NET PREMIUMS

Product Class

2009 Product Mix

Gross Premium Written 2009 to 2016 (US$)

Market Share 2016 By Gross PremiumForte 47%Others 53%

Net Premium Written: 2009 to 2015 (US$)

17% Automobile

25% Casualty

7% Engineering

5% Marine

14% Medical

32% Property

2009 2010 2011 2012 2013 2014 2015 2016

Automobile

Casualty

Engineering

Marine

Medical

Oi l & Gas

Proper ty

1,173,981

1,673,615

-508,902

342,130

942,835

2,151,105

1,321,494

1,999,396

964,991

320,030

922,899

226,372

2,489,529

1,590,617

2,323,743

870,789

347,894

1,243,712

349,203

3,029,544

1,860,565

2,832,445

1,126,824

415,214

1,571,517

111,645

4,360,357

2,219,231

3,538,851

1,250,232

445,354

2,005,316

26,193

6,391,689

2,649,792

4,237,711

4,014,080

1,106,421

2,717,641

9,150,552

3,099,393

5,960,240

1,767,745

1,301,380

4,263,146

11,706,140

3,442,684

5,676,644

3,518,117

1,342,712

5,379,223

12,911,528

Gross Premium 2009 2010 2011 2012 2013 2014 2015 2016

Industry

Forte Insurance

Number of Companies

Insurance Industry Average

Industry

Forte Insurance

Number of Companies

Insurance Industry Average

70,401,608

32,928,617

7

10,057,373

20,012,934

5,774,764

6

3,335,489

7,645,666

3,580,617

6

1,274,278

24,873,121

8,244,711

6

4,145,520

9,237,457

4,423,267

6

1,539,576

29,711,519

9,755,501

6

4,951,920

11,514,945

5,657,352

6

1,919,158

36,090,237

12,364,779

6

6,015,040

14,124,621

6,899,117

6

2,354,104

42,109,117

15,963,497

6

7,018,186

16,658,435

9,280,650

6

2,776,406

52,975,741

23,868,605

6

8,829,290

19,119,496

11,109,541

6

3,186,583

61,645,937

28,098,144

7

8,806,562

24,879,579

15,159,775

7

3,554,226

Net Premium 2009 2010 2011 2012 2013 2014 2015 2016

2016 Product Mix

11% Automobile

17% Casualty

11% Engineering

4% Marine

40% Property

PRODUCT PORTFOLIO

16,000,000

14,000,000

12,000,000

10,000,000

8,000,000

6,000,000

4,000,000

2,000,000

02009 2010 2011 2012 2013 2014 2015

35,000,000

30,000,000

25,000,000

20,000,000

15,000,000

10,000,000

5,000,000

02009 2010 2011 2012 2013 2014 2015 2016

Forte InsuranceInsurance Industry Average

Forte InsuranceInsurance Industry Average

Forte47%

Forte61%

Market Share 2015 By Net PremiumForte 61%Others 39%

17% Medical

Corporate Prof i le l 20Corporate Prof i le l 19

Market Share 2015 By Gross PremiumForte 46%Others 54%

Forte46%

Whi le st r iv ing to prov ide coverage to a l l Cambodians is key, For te is a lso f i rmly commit ted to address ing the cha l lenges of educat ion, the env i ronment, hea l th and safety. By leverag ing our s t rengths and the suppor t o f employees, agents and bus iness par tners, we st r ive to ra ise awareness of the impor tance of corporate soc ia l responsib i l i ty and encourage others to fo l low su i t .

Our CSR init iat ives include: S ince 1999, For te has been cooperat ing wi th Japanese NGO

OISCA Internat iona l sponsor ing var ious green pro jects and deve lop ing human resources in agr icu l ture

Sending 2 Cambodian every year to Japan for 1 year t ra in ing program on agr icu l ture

Organiz ing Chi ldren’s Forest Program, which encourages students to rea l i ze the impor tance of a susta inable env i ronment v ia a t ree-p lant ing campaign. The campaign has reached twenty schools in Cambodia wi th 4,800 t rees be ing p lanted

In i t ia ted Road Safety Campaign and Par tner ing NGO JCI Cambodia-Mekong to increase awareness of road t ra f f ic safety by donat ing 1,000 he lmets to students and motorcyc l is ts

Our CSR programs not on ly s t rengthen the re la t ionsh ip between a l l par t ies, but a lso act as a va lue-add to our serv ices. Contr ibut ing to the deve lopment and success of loca l communi t ies is a fundamenta l par t o f our success, and we cont inuous ly prov ide the encouragement and resources needed to par t ic ipate in and cont r ibute to the deve lopment of soc ia l responsib i l i ty.

COMMUNITYAs part of the community, Forte is committed to ra is ing standards across the board.

Corporate Prof i le l 22

We attract only the most talented individuals and more

impor tant ly, develop them to their ful l abi l i t ies. Our

people receive internat ional-class training and

par t icipate in regional conferences to fur ther sharpen

their ski l ls. They use the latest information technology

and tools to keep abreast of developments and to react

to changing consumer and business needs.

We bel ieve in a diverse work environment and a strong

culture of inclusiveness that al lows our workforce to

contr ibute to their ful l potential. Their unique outlook

and experiences are crucial to our continued success.

Above and beyond, however, our people are rel iable,

honest and eff icient. Their knowledge and experience

al lows For te to continuously grow and to offer products

and services of the highest qual i ty.

OUR PEOPLEA company is as good as i ts people, and our people are as good as they get.

Corporate Prof i le l 24

OUR ORGANIZATION OUR LOCATIONSForte Insurance (Cambodia) Plc

Siem Reap BranchMondul Stat Chas, Sangkat Svaydangkum, Krong Siem Reap, Siem Reap Province, Kingdom of Cambodia.Tel: (+855) 63 963 355. Fax: (+855) 63 963 610Email: srp@for teinsurance.com

Battambang BranchNo. 26, National Road No. 5, Phum Romchek 5, Sangkat Rattanak, Battambang, Kingdom of Cambodia.Tel: (+855) 53 731 617. Fax: (+855) 53 731 700Email: bbp@for teinsurance.com

Kampong Cham BranchNo. 8, St. Soramarith, Group 9, Phum 3, Sangkat Veal Vong, Kampong Cham City, Kampong Cham Province, Kingdom of Cambodia.Tel: (+855) 42 210 167. Fax: (+855) 42 210 157Email: kcp@for teinsurance.com

Sihanoukvi l le BranchNo. 35, Group 4, Sangkat 2, Phreah Sihanouk City, Phreah Sihanouk Province, Kingdom of Cambodia.Tel: (+855) 34 934 955. Fax: (+855) 34 934 956Email: shv@for teinsurance.com

CARLO CHEOChairman

ASII ANZIIF (Snr. Assoc.) CIP

ACII, AMIICEO

CHARLES CHEO

Managing DirectorYOUK CHAMROEUNRITH

MD, AMII, ACIIAssistant General Manager

DR. OR SAOVANNA

VP Property & EngineeringDipl (C.E) S’pore Poly

DAVID NG PECK J IN

AVPFinance Dept.

CHEA SOKAGNA

SOM CHAMNANB.A, LLB, LLM (Melbourne)

Attorney-at-LawAVP, Head of Claims Department

KHEANG YANOVP

Regional Dept.

SUY CHANNTHARONGMBA, AMII, ACII AVP Underwriting Dept.

Relationship Management

ZHAO HAIMINGACII, AMII

VP Business Development

EAR EKSANTHANAVP

IT Dept.

JENNY HUYNHB.A

AVP, Head of Marketing & Communication

KEM MAKHUNYACII, AMII, CITIPAVP MIS Dept.

Corporate Prof i le l 25

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Prea

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Blv

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Preah Ang Non (St.102)

Kanadia Bank

St.108

St.67

St.120

Preah Ang Sophanovong

Preah Norodom Blvd (41)

Pasteur (St.51)

Preah Trasak Paem (St.63)

Kampuchea Krom Blvd (128)

St.124

Preah Chey Chetha (St.118)

Bayon Super Market

Oknha H

ing Penn (St.61)

Preah Ang Doung St.(110)

Preah Chey Chetha (St.118)

Preah Mohaksat Treiyani Kossamak (St.106)

Kramuon Sar St.(114)

Democracy Park

Phnom Penh (Head Off ice)Vattanac Capital, Level 18, No. 66 Monivong Blvd, Sangkat Wat Phnom, Khan Daun Penh, Phnom Penh City, Kingdom of Cambodia. P.O. Box 565Tel: (+855) 23 885 077 / 066. Fax: (+855) 23 986 922 / 882 798Email: info@for teinsurance.com