Manulife Awaits License

Canada’s Manulife insurance company is waiting for permission, and will begin its business once the government permits, said Indren Naidoo, the company’s regional executive on May 29.

Naidoo said that the company has had an office in the country since 2014 yet was waiting for a official permit. He said that he was confident the insurance business would bloom once permits were issued.

Officials of from Myanma Insurance also attended the conference.

Dr Sandar Oo, the managing director of Myanma Insurance, said: “The Myanma Insurance office will soon relax [the entry rules], and insurance firms and agents will be welcomed. We will have to study the performances of the international insurance distribution channels, and there will be trade specific insurance, insurance through banks, and also online and internet protocol.”

The move to welcome foreign insurance firms is the first development in the market in the past 70 years.

 

Source: Eleven myanmar

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