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Local, Foreign Insurance Cos. readying to sell in Myanmar

YANGON—Myanmar’s Ministry of Planning and Finance is set to give the go-ahead to joint ventures between local and foreign insurance companies next month. The country’s insurance business regulatory board, which is overseen by the Ministry of Planning and Finance, is currently scrutinizing companies that have submitted requests for proposals (RFP), U Zaw Naing, the board’s […]

Myanmar insurance industry poised for reform, awaits liberalisation

Insurance providers in Myanmar can expect a more competitive and promising landscape on which to do business in the near future. With market liberalisation, which will enable firms to offer a wider variety of insurance products, on the government’s agenda, local and foreign providers alike have already started training staff and building management and IT […]

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 […]