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Financial services among the fastest growing sectors in Myanmar

The financial sector rose the most among 15 sectors managed by the government in the first six months of the 2017-18 fiscal year, growing 22 percent as a result of the implementation of new financial services, U Set Aung, deputy minister of the Ministry of Planning and Finance, at Pyidaungsu Hluttaw meeting on Thursday. “If […]

Sompo Japan offers car insurance in Myanmar

Sompo Japan Nipponkoa Insurance has entered Myanmar’s auto insurance market in a first for a foreign company. The Japanese nonlife insurer recently began selling car insurance in the Thilawa special economic zone to the southeast of Yangon. It will mainly market vehicle insurance, as well as bodily injury and property damage liability coverage, to customers […]

Private Insurance Industry Finds its Feet

YANGON — Private insurance in Myanmar is still in its infancy and will need time to fully develop after more than half a century of domination by a government-owned company, say some of those now hoping to transform the industry. Earlier this year, Myanma Insurance, the sole insurer in the country since 1952, took the […]