Great Eastern pioneers SEA’s Life Insurance in Myanmar

YANGON: Great Eastern Life has set up its first representative office in Yangon, Myanmar.

The Singapore-based insurance company is the first Southeast Asian life insurer to grant the permit for establishing a representative office by the Directorate of Investment and Company Administration of Myanmar.

“These are extraordinary times for Myanmar, as the country’s economy continues to grow. We see tremendous opportunities where we can support the Myanmar authorities to develop the local insurance industry,” Chris Wei, Group CEO of Great Eastern Holdings said at the opening ceremony last March at a prime hotel in Yangon.

Myanmar has one of the lowest insurance penetration rates in Asia. With a population of over 60 million, there is ample space for the industry to grow.

Source: The Jakarta Post

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