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Jul 2020

Myanmar: Sompo Japan first foreign insurer to offer auto cover

Source: Asia Insurance Review | Feb 2016

Sompo Japan Nipponkoa Insurance has entered Myanmar’s auto insurance market in a first for a foreign company.
   The Japanese non-life insurer recently began selling car insurance in the Thilawa Special Economic Zone to the southeast of Yangon, reported the Nikkei Asian Review. With just 5% or so of drivers in Myanmar insured at the moment, the market is expected to enjoy significant growth.
   Sompo Japan obtained its business licence in Myanmar in May. It has been selling fire insurance and other products in the Thilawa zone.
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