Latest Developments In Myanmar’s Insurance Market (Part – 1).
Legal News & Analysis - Asia Pacific - Myanmar - Insurance & Reinsurance
9 September 2020
The contemporary Myanmar insurance market is a young market.
This is despite the fact that the modern system of insurance arrived nearly 200 years ago and it was a flourished market. The market was disrupted in the 1960s due to the changing political system. Since then Myanmar insurance market was a one-company-market until 2012.
The wind of change blew in 1989 and the insurance market was not an exception. In 2012, 12 insurance licenses were issued to the private sector. That was the beginning of the change for the insurance market.
The change from a one-company-market to multi-companies market was a big move toward the modernisation of insurance market.
Read the full article here.
For more information, please contact:
Dr Maung Maung Thein, Of Counsel | ZICO Law Myanmar