Climate change is becoming a growing concern around the world, especially for farmers in Asia. Now, one village in Myanmar is seeking protection with a new type of insurance. In a village located on the outskirts of Pyay in central Myanmar, most residents make a living by growing rice. But for the past several years, […]
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 Readies Reforms to Liberalize Insurance Market
June 20, 2017 by
NAYPYITAW — Myanmar intends to release within three months a blueprint for insurance market reforms that include allowing foreign insurers to underwrite and sell policies, the head of state-run Myanma Insurance said here Wednesday. Managing Director Sandar Oo outlined the reforms from the Ministry of Planning and Finance, which oversees Myanma Insurance, in a presentation at Myanmar Investment […]
Sompo Japan offers car insurance in Myanmar
January 7, 2016 by
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 […]
