DFDL Myanmar recently contributed to Norton Rose Fulbright’s publication on “Insurance regulation in Asia Pacific: Ten things to know about 20 countries”. DFDL’s contributors to the publication were Nishant Choudhary, Partner, Deputy Managing Director, and Head of Banking & Finance Practice and Rohan Bishayee, Legal Adviser.
The insurance sector in Myanmar is growing and the Ministry of Planning and Finance (“MoPF”) has recently taken significant steps to liberalize the insurance sector and open it up to foreign participants. The MOPF, for the first time, issued licenses to foreign life-insurance companies and allowed six joint venture insurance companies to provide services in the country. Three are life insurance companies and three are general insurance companies.
DFDL assisted one major international applicant in securing its insurance license while also advising another globally recognized insurance group on its bancassurance arrangements in Myanmar.
The entire guide is available at: https://www.nortonrosefulbright.com/en/knowledge/publications/c78f334b/insurance-regulation-in-asia-pacific.