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 […]

Foreign insurance companies to be allowed to enter Myanmar

Foreign insurance companies will be allowed to run in Myanmar under the arrangement of the Insurance Supervisory Committee, said Dr Sandar Oo, managing director of Myanma Insurance, during Myanmar Insurance Summit 2018 held at Sule Shangri-La Hotel in Yangon on February 22. “If foreign insurance firms are allowed to operate here, they will bring here […]

More insurers to get green light for US dollar services

More insurance firms will be allowed to offer services in US dollars if they can meet the same requirements that were met by the four companies that have already received approval to offer such services, according to Dr Maung Maung Thein, chairperson of the Insurance Business Supervisory Board. The government has given the green light […]