Canada’s largest insurance firm opens Myanmar office

Canadian insurance firm Manulife Financial Corporation has opened a representative office in Yangon, returning after a seventy year absence, according to Bloomberg.

Manulife – the largest life insurance firm in Canada – formerly operated in Myanmar from 1903 to 1942, before leaving during World War II.

“We’re convinced Myanmar is on the threshold of a great opportunity,” Indren Naidoo, Manulife’s executive for the region that includes Myanmar, said in an e-mail, according to Bloomberg. “Myanmar has a real opportunity here in terms of catching up with the kind of growth and development we’ve seen in other parts of this region.”

Manulife, which manages CDN$635 billion (US$584 billion), is awaiting an operational licence from the local government to begin selling products.

Source Myanmar Times

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