Country: Myanmar Page 1 / 3
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- March 31 2025
Myanmar’s protection gap exposed as 7.7-magnitude earthquake death toll tops 1,600
The financial burden from the damage to buildings, airports, roads and bridges, is likely to fall on businesses and the government as insurance penetration in the country remains very low.
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- March 28 2025
7.7-magnitude earthquake rocks Myanmar, leads to road and property damage in Bangkok
Earthquake also shook buildings and triggered evacuations in neighbouring Vietnam and southwest Yunnan province in China.
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- December 2 2024
Yagi third costliest typhoon in Asia with US$1bn insured loss: Munich Re
Early estimates of the overall losses from the typhoon season are thought to be around US$22bn, with insured losses of US$2bn, the reinsurer said.
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- April 23 2024
Asia warming faster than global average, hit by 79 weather-related disasters in 2023: WMO
Floods and storms are causing the highest number of reported casualties and economic losses, whilst the impact of heatwaves became more severe, according to a report from the UN climate agency.
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- September 11 2023
US sanctions jet-fuel shipments to Myanmar: IGP&I
While restrictions apply only to fuel for military purposes, in practice, it may be impossible to prove that shipments are only for civil aviation, which may lead to exclusions in P&I cover.
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- April 12 2023
Crawford partners with Vietnam’s NorthStar
The tie-up between the loss adjusters is designed to strengthen service and improve customer experience across the region of Cambodia, Laos, Myanmar and Vietnam (CLMV).
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- January 3 2022
Tokio Marine appoints Asia CEO
Masahito Hirai has switched from the firm's Malaysia operations to be based in Singapore.
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- November 5 2021
Sun Life Vietnam poaches AIA exec for CEO role
Luc Nhon Ly was most recently chief executive of AIA Myanmar.
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- September 29 2021
HDI Global appoints Asean claims head
Singapore-based Raymond Ong joins the industrial lines insurer from Willis Towers Watson.
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- August 12 2021
China’s record floods dominate July’s Asia claims
Aon reports says US$1.7bn of insured losses is highest nat cat payout for the Chinese insurance industry on record.
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- August 4 2021
Lloyd’s players highlight strong demand for political violence cover
Strikes, riots and civic commotion (SRCC) rates generally flat in Asia except for distressed regions such as Myanmar.
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- March 2 2021
Myanmar cargo rates unchanged despite protests: source
An Asia-based marine broker told IAN that Lloyd's is unlikely to designate the country as a listed area.
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- December 29 2020
RCEP to comprise 25% of global premiums
Asian trade deal will come into force in 2021 and boost premiums by US$9.6bn by 2030.
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- September 30 2020
First Korean life player given Myanmar green light
The firm is now in search of a local partner to set up a JV.
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- July 28 2020
Sachin Shah to join Manulife
He will manage emerging markets in South-East Asia and previously led AIG's GI APAC operations.
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- February 7 2020
Japan and Singapore team up for Asia nat cat risk scheme
The protection programme will support lower income countries.
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- January 6 2020
Will Asia’s markets hum in 2020?
The fundamentals are strong despite increasing uncertainty.
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- November 29 2019
Myanmar gives green light to 11 foreign players
Issuance of operational licences will breathe life into the market.
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- August 23 2019
Taiyo Life to acquire 35% stake in Myanmar Capital
The firm is the latest Japanese player to have a stake purchase in a Myanmar insurer approved.
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- August 19 2019
Thai Life agrees 35% stake in Myanmar’s CB Insurance
The Thai player wants to bring its actuarial and managerial expertise to Citizen Business Insurance.
