Following previous announcements by the Ministry of Planning and Finance (“MoPF”), foreign life and non-life insurance companies can now form joint ventures with local insurance companies. In light of the recent developments, VDB Loi has been engaged by applicants in the application process. On 31 July 2019, the MoPF by way of Announcement No. (3/2019) […]

The insurance sector in Myanmar is still in its infancy and dominated by the state owned enterprise, Myanma Insurance (“MI”). Through the Myanmar Insurance Law 1993, MI was empowered to engage in all insurance business activities, permit other insurance companies to issue the type of policies as MI authorizes, and monopolize third-party liability and re-insurance. […]