Myanmar's The Voice reported on June 13: according to Myanmar's Insurance Business Supervisory Board, Myanmar has allowed private enterprises to operate insurance businesses since 2012. Currently, private insurers are permitted to offer nine types of insurance, including life, fire, motor, goods and health insurance. Together with the Ministry of Finance, the Board plans to add 11 more insurance classes to private insurers' permitted scope—including life insurance for overseas workers, crop insurance, agricultural insurance, travel insurance and engineering insurance—though consultation with the relevant enterprises is still needed.

        The key now is that time is still needed for adjustments in order to provide higher-quality services. The report said foreign insurance companies are also expected to enter the Myanmar market in the next step.

Source: Ministry of Commerce of China, 2017-06-13