Few have insurance but interest is rising

Few business people in Myanmar buy insurance policies to cover their lives, let alone goods and vehicles, said Dr Sandar Oo, managing director of Myanmar Insurance Enterprise (MIE), which is under the Ministry of Planning and Finance. “There are policies under the (MIE) which cover all the losses suffered,” she added. Moreover, the MIE is […]

Health Insurance Companies Struggle to Find Customers

The experimental health insurance system introduced last year has seen a mediocre 2,092 subscribers until now, indicating a huge lack of public awareness. The system started in July 2015 for a trial period of one year in order to support the public when they have health issues. State-run Myanmar Insurance Enterprise (MIE) and 11 local […]

Comprehensive Auto Insurance Still a Hard Sell

  Approximately 20 percent of vehicle owners have bought a comprehensive coverage insurance policy despite the rising number of motor vehicles used for transportation. According to the state-run insurer Myanmar Insurance Enterprise (MIE), the number of vehicles users are increasing day by day, but only a few have purchased full coverage so far due to […]

Automobile Service Centre Hopes to Revitalise Insurance Sector

The Tokyo Auto Service Japan Co Ltd, an automobile service centre that will not only repair damaged vehicles but also provide automobile insurance services, opened its doors in Yangon. The company said it noticed that car owners from Myanmar are not interested in buying insurance for their cars. Therefore, the company wants to try to […]

MetLife Eyes Untapped Insurance Market with Rep Office

American life insurer MetLife Inc has launched a representative office in Myanmar in a bid to tap the country’s nascent life insurance industry. MetLife received a licence for its representative office in Myanmar in 2013, along with 17 other foreign insurers. The company said it is now working with government regulators as well as industry […]

A.M Best Insurance Co to open branch office

A.M Best Insurance Company is intended to open a branch office in Myanmar in 2015, said A.M Best CEO Dr. Roger Sellek in a meeting concerned with financial strength ratings on Friday held in Traders Hotel. “When Myanmar’s Insurance Companies is stronger in next two or three years, the company will be opened a branch […]