PHNOM PENH, Feb. 6 (Xinhua) -- Cambodia's nascent insurance industry had earned the total premium revenues of 29.7 million U.S. dollars last year, a 19 percent rise from 24.9 million U.S. dollars in a year earlier, according to the industry report on Monday.

The revenues came mainly from fire insurance of 26 percent, followed by motor insurance of 19 percent, miscellaneous insurance of 17 percent, health insurance 15 percent and engineering 13 percent, said the report of the General Insurance Association of Cambodia (GIAC).

Despite growing premiums, the sector has seen a big loss last year because a few garment factories had been destroyed by fire.

"The claim amount had amounted to 33.5 million U.S. dollars last year, increased by 178 percent year-on-year," the GIAC's chairman Chhay Rattanak said Monday.

He forecast that the industry could grow about 20 percent this year thanks to growing economic activities.

Cambodia has six insurance companies -- Forte Insurance, CAMINCO, Asia Insurance, Campubank Lonpac, Infinity Insurance, and Cambodia-Vietnam Insurance. Also, there is one domestic reinsurance company.

To date, the country has not yet had life insurance firm even if, in August last year, the Finance Ministry and four private companies signed a joint venture agreement to establish the country's first-ever life insurance firm.