Japan’s second-largest insurance
company, Sompo Japan, is eager to diversify its markets into different
insurance types in Myanmar.
On December 11, a “Reinsurance
Protection & IT System” workshop was held in Yangon, by Myanmar
Insurance Enterprise and Sompo Japan Insurance Inc.
Sompo Japan is interested to offer
vehicle, fire, personal accident and sea service insurance in Myanmar,
Keiji Okada, chief representative of Sompo’s Yangon office said during
the workshop, and they were willing to bring their partner companies
into Myanmar.
Sompo Japan’s representative office in
Myanmar was opened in 1995, operating under Myanmar Insurance Enterprise
in accordance with the national insurance policy.
Sompo Japan Insurance Inc, a prestigious company in Japan, merged with Yasuda Fire and Nissan Fire & Marine Insurance.
Myanmar Insurance Enterprise is the only
insurance business in Myanmar while the country expects a boom in the
insurance sector in future, said Keiji Okada.
Speaking at the workshop, Deputy
Minister for Finance and Revenue Maung Maung Thein stressed the
importance of the insurance business in Myanmar, highlighting the impact
on the country’s gross domestic product due to catastrophes.
source: Eleven Myanmar
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