CB Insurance and Thai Life signs JV agreement

Yangon-based Citizen Business Insurance Public Ltd (CB Insurance) has formalised a joint venture with Thai Life Insurance PCL (Thai Life) through an agreement signed on August 16 that will see both companies working together to offer new insurance products in the Myanmar market. Part of the CB group of companies that includes Co-operative Bank Ltd, […]

Thai Life makes Myanmar play to gain an edge

Thai Life Insurance has struck a deal to take a 35% stake in Citizen Business (CB) Insurance, becoming the first Asean outsider to enter Myanmar’s insurance field. “This partnership will give CB Insurance a competitive advantage by leveraging Thai Life’s actuarial and managerial expertise, as well as product distribution channel development, which has proved to […]

Four local life insurance providers form JVs with foreigners

Four domestic life insurers will cooperate with their foreign counterparts to form joint ventures in Myanmar, according to the Myanmar Insurance Association (MIA). Citizen Business Insurance (CB Insurance), First National Insurance, Grand Guardian Insurance and Capital Life Insurance will form joint ventures with foreign insurers, said U Thaung Han, managing director of CB Insurance and […]

Foreign insurance firms can give Myanmar’s lagging insurance market a much-needed boost

It has been a long time coming, but foreign insurance companies will soon be able to operate in Myanmar. Plans to liberalise the insurance market in this way were first announced in 2011. But only now has the government given the regulations the go-ahead. It is too late for those companies that left after becoming […]

Up to eight insurance JVs expected in Myanmar this fiscal year: officials

Six to eight foreign insurance providers are expected to enter the Myanmar market via joint ventures with local providers this fiscal year, U Thaung Han, secretary of the Myanmar Insurance Association (MIA) and chair of CB Insurance told The Myanmar Times. On January 2, the Ministry of Planning and Finance (MOPF) officially permitted foreign insurance […]