News Regulations09 Apr 2019

UK-headquartered insurer finds footing in nascent Asian market

As Myanmar's insurance market slowly opens up and gradually moves towards liberalisation, the country's ministry of planning and finance (MoPF) has selected Prudential as a 'preferred applicant' to receive a licence as a wholly-owned life insurance company. 'Preferred applicants' are required to fulfil a set of pre-licensing conditions, following which they will receive a licence to offer life insurance products in Myanmar from the MoPF. The selection is a major step in the process of Prudential receiving a full licence to provide life insurance products and services in Myanmar.

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