The five foreign life insurance companies in Myanmar have pledged to continue providing financial services and serving customers in the country's current political situation.
The five life insurers in Myanmar took to their facebook pages to inform the public that they will continue working with the country’s populace, reported Myanmar Times.
The five foreign life insurance companies in Myanmar are:
On 28 November 2019, five foreign insurers and half a dozen joint ventures were granted licences by the Financial Regulatory Department to operate in the Myanmar market.
The three life JVs are between Capital Life Insurance and Taiyo Life Insurance; Citizen Business Insurance and Thai Life Insurance; and Grand Guardian Life Insurance and Nippon Life Insurance.
The three non-life JVs are between AYA Myanmar General Insurance and Sompo Japan Nipponkoa Insurance; Grand Guardian General Insurance and Tokio Marine & Nichido Fire Insurance; and IKBZ Insurance and Mitsui Sumitomo Insurance.
In 2014, we made a bold prediction on Myanmar's insurance market.
More on Myanmar’s insurance industry:
AIA, AYA SOMPO and AYA Bank launch strategic bancassurance partnership in Myanmar – 26 Nov 2020
Kyobo Life Insurance gets approval to start business next year – 7 Oct 2020
Bancassurance: Capital Taiyo Life Insurance and Myanmar Citizens Bank (MCB) to provide life insurance products in Myanmar – 31 Aug 2020
Myanmar's Reinsurance Revolution – 20 Jul 2020
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