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.