NEW YORK — The ACE Group
announced today that it has received provisional approval from
Myanmar’s Directorate of Investment and Company Administration to
establish a representative office in Myanmar. The company is now
completing the registration process with the relevant Myanmar
authorities with the intention of opening the office in the city of
Yangon later this year.
As well as acting as a liaison office for
ACE’s multinational clients that may have risks in Myanmar that require
insurance, the representative office will enable ACE to build
relationships with the Myanmar regulatory authorities, the country’s
business sector and other insurance market participants including
insurance agents, brokers and other insurance and reinsurance companies.
The office will also lead ACE’s efforts to participate in and help
build Myanmar’s insurance sector.
According to Evan Greenberg,
Chairman and Chief Executive Officer, ACE Limited, “With ACE’s
experience in many emerging markets around the globe, we hope to
contribute to the development of the insurance market and economy of
Myanmar. The ongoing political reform process, encouraging demographics
of a relatively young and growing population as well as the increased
per-capita income make Myanmar an attractive market for the future. We
look forward to the prospect of lending our expertise in helping to
build a strong and efficient insurance market, and we are committed to
growing our presence over time to serve the protection needs of the
nation’s citizens and businesses.”
About ACE
The
ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 53 countries, ACE offers commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance and life to a diverse range
of customers. In Asia Pacific, ACE’s operations include nearly 5,000
local underwriting, claims, marketing and other insurance professionals
in over 100 offices in Australia, Hong Kong, Indonesia, Korea, Macau,
Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and
Vietnam, as well as a strategic partnership in China. ACE Limited, the
parent company of the ACE Group, is listed on the New York Stock
Exchange (NYSE: ACE) and is a component of the S&P 500 Index. Visit www.acegroup.com for more details.
source: HeraldOnline
http://www.heraldonline.com/2013/05/23/4889706/ace-receives-regulatory-approval.html
No comments:
Post a Comment