Private companies soon to be permitted 20 types of insurance

The private insurance companies will be permitted to provide 20 types of insurance very soon for the development of the local insurances, according to a report in the Myawady Daily yesterday. Initially, Myanmar Insurance has permitted private companies only six types of insurance out of 46. Later on, the private companies were permitted to provide […]

Myanmar to Grant Licences for More Types of Insurance ‘Soon’ as Industry Liberalises

Myanmar finance authorities have submitted a pro­posal to the government on seeking permission to grant operation of all types of insurance servic­es to the private sector. Licenses for all 40 types of insurance plus addi­tional farmers’ insurance and overseas employment life insurance are expect­ed to be granted by the government soon, said U Kyaw Win, […]

IKBZ facilitates the growth of Myanmar’s insurance sector

Myanmar’s insurance sector dates back to the 18th century, but only recently has foreign investment been granted, opening up and creating opportunities in the market The insurance sector in Myanmar has been active for quite some time, perhaps surprisingly so for those not familiar with the market. Following the signing of the peace treaty of […]

Foreign insurance companies who meet their standards allow to work in SEZs says IBSC

Foreign insurance companies who meet their standards allow to work in SEZs says IBSC Insurance Business Supervision Committee (IBSC) will be the only granted foreign insurance company which meets their standardizations to work in Thilawa Kyaukpyu and Dawei special economic zones, according to its committee. The committee said they will announce the profile of companies […]

Health, Loan Insurance Coming to Myanmar This Year

YANGON — Myanmar’s insurance industry will begin providing currently nonexistent health and credit guarantee insurance policies in the 2014-15 fiscal year, according to state-run Myanma Insurance. “We will operate health insurance and loan insurance services in the coming financial year,” said Aye Min Thein, managing director of Myanma Insurance. The fiscal year begins on April […]