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Myanmar awards insurance licences to five foreign providers, six joint ventures

The Financial Regulatory Department today awarded licences to five foreign insurers and half a dozen joint ventures to operate in the Myanmar market. British Prudential, Japanese Dai-ichi Life, Hong Kong AIA, US Chubb and Canadian Manulife have been permitted to issue life insurance policies in Myanmar with their fully-owned subsidiary, more than half a year […]

With 70% Unbanked Population, Myanmar Bets on Fintech to Improve Financial Inclusion

Despite the Myanmar government’s push to expand access to financial services, the country still trails far behind the rest of Asia in rates of participation in formal financial services, financial literacy, savings rates and the use of digital financial services, according to a new report by social enterprise ONOW Myanmar. But fintech and mobile technology […]

Expression of Interest &/or Request for Proposal for Foreign Insurance Entities (JV with local insurance companies). Closing Date 28 Jan 2019

Announcement No. 1/2019 of the Ministry of Planning and Finance, ‘Insurance Market Liberalization for Foreign Entities in Myanmar’ dated January 2, 2019 has been published in newspapers and uploaded in webpage www.frd.gov.mm. In accord with the announcement, the Expression of Interest (‘EOI’) and/or the Request for Proposal (‘RFP’) in order to transact insurance business in […]