Nippon Life Insurance has announced it will take a 35 percent stake in Myanmar’s Grand Guardian Life Insurance Company (GGLI) in a deal worth USD 21 million. According to a report in Dealstreet Asia, the deal is expected to be completed by October this year. Grand Guardian would be renamed Grand Guardian Nippon Life Insurance. “While the life insurance market in Myanmar is still in an early stage of development with private insurers granted licences in 2013, with attractive demographics and solid economic development, high growth rate of the life insurance market can be expected over the long term,” Nippon Life said in a statement. The move is the latest sign of progress in Myanmar’s nascent insurance market. Earlier this year, the Ministry of Planning and Finance established a list of Preferred Applicants for Foreign Life Insurance Licences. This will allow the firms to operate as 100 percent wholly-owned subsidiaries of their parent companies.
Upcoming Events
- No events
- all events
Highlights
Terminals, ports, logistics, liner operations disrupted
German containerline Hapag Lloyd has announced a decision to temporarily suspend cargo bookings into Myanmar …Facebook, Instagram ban military and related pages with immediate effect
In a February 24th update to its February 11th statement, Facebook through its Director of …Luxury Japanese real-estate complex called out for funding military
Despite distancing itself from other major Western states imposing sanctions on military-linked individuals and entities, …
Myanmar in the Media
- Myanmar junta leader makes first visit to ChinaSource: Bangkok Post Recent StoriesNovember 5, 20242 hours ago
- Myanmar junta chief to make first China visit since seizing powerSource: Voice of America East AsiaNovember 4, 20241 day ago
- War makes it harder to hold journalists’ killers accountable, experts saySource: Voice of America East AsiaNovember 2, 20243 days ago
- Alleged leader of Rohingya smuggling gang arrestedSource: Bangkok Post Top StoriesNovember 2, 20243 days ago
Thura NewsViews
Myanmar’s most widely read newsletter on the country’s politics, economy and businesses brought to you by Thura Swiss