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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 […]

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 […]

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 […]