Local Insurance Companies In Myanmar
The five wholly foreign owned insurance companies are.
Local insurance companies in myanmar. Nyo myint vice chairman of ikbz insurance explains that although the monopoly of the state owned myanma insurance has ended the country s 12 insurance companies are still. Aung thitsa oo insurance. Aya myanmar insurance ami aya sompo insurance.
Excellent fortune insurance efi first national insurance fni. 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 association said during the into myanmar. 400 406 merchant street botahtaung township yangon.
The minister said local insurance company first national insurance is collaborating with the government to prepare the draft bill for the association. Additionally foreign businesses operating in myanmar are required to buy insurance from the state owned underwriter. 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.
Currently there are 12 private insurance companies in myanmar besides mie and 11 of them have started their operations. 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 systems to prepare for growth. On the other hand the local monetary sector and foreign investment sector will see more improvements according to the ministry of planning and finance.
Capital taiyo life insurance. Insurance providers in myanmar can expect a more competitive and promising landscape on which to do business in the near future. Below is the list of local myanmar insurance companies.
Aia myanmar life insurance company chubb life insurance company dai ichi life insurance myanmar ltd manulife myanmar life insurance. You can sort the rows by clicking the up down arrow in the column header. In addition to one government run provider there are currently 11 local private insurance companies in myanmar eight are licensed to sell both life and general insurance while three may sell life insurance only.
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