IKBZ Insurance on Tuesday announced the launch of IKBZ Life, a new insurance company fully dedicated to life insurance products, in compliance with regulations by the Insurance Business Regulatory Board (IBRB). IKBZ Insurance is a general insurance company which obtained preliminary approval to operate a joint venture with Japanese insurance provider Mitsui Sumitomo Insurance on […]
Myanmar insurance industry poised for reform, awaits liberalisation
April 19, 2018 by
Insurance providers in Myanmar can expect a more competitive and promising landscape on which to do business in the near future. 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 […]
The insurance queue just got longer
August 4, 2017 by
Myanmar has a historic connection with the insurance industry. Almost 80 insurance companies operated in the market from the mid-19th century till the mid-20th century, and a large number of them were foreign companies. But things changed in the 1960s when the industry was taken over by the government and all foreign insurers in the […]
Myanmar opens Thilawa SEZ to foreign insurers
March 31, 2017 by
Myanmar is opening up its Thilawa special economic zone near Yangon to international insurance companies — part of a market liberalization effort expected to gain momentum this year. The government does not allow foreign insurers to offer their services outside of Thilawa — a Myanmar-Japanese joint venture and the country’s only operational SEZ. Only three […]
