Cambodian Reinsurance Company, known as Cambodia Re, was established under Sub-Decree No. 07AN.KR.MK by the Royal Government of Cambodia on 24 th January 2002 . The company is incorporating with the registered capital of USD 7 million for its operation regarding to the Insurance Law of Cambodia. In order to build up the capacity and financial strengths with the ideal of privatization, company reached a Joint Venture agreement with Asian Insurance International (AII) with the sales of 20 percent of share of Cambodia Re on 16 th January 2004 .