AUPP and Manulife Cambodia Sign Partnership Strengthening Ties Between Higher Education and the Insurance Industry

The American University of Phnom Penh (AUPP) and Manulife (Cambodia) Plc., signed a memorandum of understanding (MOU) on May 12, 2025, marking a shared commitment to equipping Cambodia’s next generation of leaders with the needed knowledge, experience and vision to thrive in a rapidly changing economy. 

Under this new partnership, students at AUPP will be given the chance to gain real world industry experience through Manulife internship and mentorship programs, career readiness workshops, as well as the possibility of participating in events and marketing activities like the Angkor Wat International Half Marathon held annually in December.

“Education is of no value if it cannot be transferred into the real world, and today's agreement will help us to do that,” said Dr. Malcolm McIver, President of AUPP, during his welcome remarks on the day of the signing. “This partnership gives our students a chance to apply classroom knowledge in the real world, develop practical skills and gain exposure to the dynamic world of insurance and financial services."

The partnership also allows staff at Manulife to have access to all of AUPP’s academic programs, expertise, and professional development resources at a special discounted rate. 

“Through this collaboration, we aspire to make a lasting impact on Cambodia and its people,” said Rotha Chan, CEO and General Manager of Manulife Cambodia. “By combining AUPP's academic excellence with Manulife's innovative insurance solutions, we are not only investing in individual futures but also contributing to the nation's journey towards becoming an upper-middle-income economy by 2030 and a high-income economy by 2050.”

Introducing Manulife’s New Education Insurance Product – ‘Manulife Pak Rinha’

At the signing ceremony, Rotha also introduced Manulife Cambodia’s new education insurance product, Manulife បរិញ្ញា (‘Pak Rinha’, which translates to ‘Bachelor’s Degree’), which gives parents the chance to provide their children long-term education protection with a one-time premium payment.

“Manulife បរិញ្ញា is a product born out of our deep understanding of the aspirations and challenges faced by Cambodian parents,” said Rotha. “Education is a cornerstone of progress, a pathway to opportunities, and a vehicle for personal and societal transformation, yet, we recognise the concerns many families face in ensuring a stable educational journey for their children, amidst life's uncertainties.” 

Therefore, Manulife បរិញ្ញា is designed to bridge the gap by offering comprehensive coverage, including an Education Payout Benefit, to secure your child's academic future, even in your absence, and a Family Assistance Benefit to support families during unforeseen events.

The insurance plan allows parents to offer protection to children as young as 30 days old, until the age of 18, when it is time for them to go to university.

“It’s only a one-time payment for 18 years of protection, so it gives peace of mind, it's love that parents can guarantee for their children, and it enables fathers, mothers, uncles, aunties, grandmothers, and grandfathers to buy this as a gift for their loved ones,” Rotha told B2B Cambodia.

Achieving 5.5 Per Cent Insurance Penetration in Cambodia by 2030

Rotha stressed Manulife Cambodia’s strong support for the Insurance Regulator of Cambodia’s effort to increase life insurance penetration to 5.5 per cent by 2030, from its current level of 1.1 per cent.

“This kind of vision or objective has to be realised through the combined efforts of all stakeholders, including life insurance companies,” he said. “At the same time, the world faces many economic uncertainties, so this is a challenge.”

Despite all challenges, Rotha believes this vision is possible if all stakeholders continue to work together, and also in light of promising growth seen in the sector in early 2025. 

In the first quarter of 2025, we saw tremendous growth. Manulife experienced high double-digit growth compared to Q1 2024, and even high double-digit growth compared to Q4 2024, and I have seen many companies experience similar growth as well. 

“I think this is very encouraging, but we have to ensure that we provide quality services and quality products that are right for our customers, that is the key to getting to that 5.5 per cent,” Rotha concluded.

Read More on Cambodia's Insurance Industry:

• Cambodian Insurance Sector Recorded Marginal Growth in 2024 - NSSF Sees Greater Adoption.
• Prince Bank And Forte Insurance Officially Launch Bancassurance Partnership To Enhance Financial And General Insurance Services In Cambodia.
• Manulife As The Exclusive Sponsor Of The Angkor Wat International Half Marathon 2024 Welcomed PM Hun Manet And 14,370 Runners To Siem Reap.