How to Best Split a Myanmar Insurance Company in a Life and a Non-Life Corporate Entity?
Most of the insurance companies which Myanmar has licensed since the liberalization of the sector to the local, private sector in 2013 are actually composite insurance companies.
Highlights of this note
- Life and Non-Life entities may not hold shares in each other
- Form one, not two new entities
- How to transfer the Life business to the NewCo?
- Or, an alternative structure without cash
- Not that fast
- How much taxes will we need to pay?
- What does it take to transfer the Life business?