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Local insurance providers see growth potential in industry

The government is expecting a total of 29 foreign and local life and non-life insurance companies to operate in Myanmar. So far, four foreign life insurance companies have applied to form joint ventures with local partners while five non-life foreign insurance companies may also form similar partnerships, Daw Sandar Oo, the Chair of Myanmar Insurance […]

Myanmar insurance to thrive with competition and free market

U Myo Min Thu is the Managing Director of AYA Myanmar Insur­ance (AMI), one of the top three private insurers in Myanmar. AMI was created in 2013 follow­ing the liberalization of economic policy which permitted private insur­ers to enter the market. AMI is the insurance arm of AYA Financial Group, a conglomerate which also owns […]

The insurance queue just got longer

Myanmar has a historic connection with the insurance industry. Almost 80 insurance companies operated in the market from the mid-19th century till the mid-20th century, and a large number of them were foreign companies. But things changed in the 1960s when the industry was taken over by the government and all foreign insurers in the […]