Foreign insurance companies to be allowed to enter Myanmar

Under the agreement of the Insurance Supervisory Committee, according to Dr. Sandar Oo, administrative director of Myanmar Insurance, during the 2018 Myanmar Insurance Summit held at the Sule Shangri-La Hotel in Yangon on February 22, foreign insurance companies will be operate in Myanmar.

In Myanmar, the situation so far indicated that there are few people with insurance coverage with Myanma Insurance, for this reason foreign companies will have many opportunities.
According to First National Insurance’s myin Han adviser: “In a developing country, a joint venture is necessary, without foreign investment, we can not develop.” When it comes to investment, the amount of money that the government has established for a company Insurance insurance is big, we need insurance technology instead of money, specialization is the main thing we need to improve our insurance service, we now have few people with experience, when we manage our insurance companies in partnership with foreign companies, we will improve ”

March 9, 2018
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