MoPF announcement on life and non-life insurance JV

27
Aug
2019

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Following previous announcements by the Ministry of Planning and Finance (“MoPF”), foreign life and non-life insurance companies can now form joint ventures with local insurance companies. In light of the recent developments, VDB Loi has been engaged by applicants in the application process.

On 31 July 2019, the MoPF by way of Announcement No. (3/2019) for life insurance joint ventures and Announcement No. (4/2019) for non-life insurance joint ventures announced the successful applicants for insurance joint ventures in Myanmar:

Life insurance joint ventures:

  1. Capital Life Insurance Limited and Taiyo Life Insurance Company Limited
  2. Citizen Business Insurance Public Limited and Thai Life Insurance Public Company Limited
  3. Grand Guardian Life Insurance Company Limited and Nippon Life Insurance Company

Non-life insurance joint ventures:

  1. AYA Myanmar General Insurance Company Limited and Sompo Japan Nipponkoa Insurance Inc
  2. Grand Guardian General Insurance Company Limited and Tokio Marine and Nichido Fire Insurance Company Limited
  3. IKBZ Insurance Company Limited and Mitsui Sumitomo Insurance Company Limited
AUTHORS
Edith Ruan
Edith Ruan
Counsel
Telecoms, Media and Technology Team
VDB Loi, Myanmar

Qualified both in China and in New York, Edith lives in Yangon where she assists our clients in the telecommunications industry. She has extensive experience with the regulatory, financing, and transactional aspects of the TMT space.

Yulie Yap
Yulie Yap
Legal Associate
Telecoms, Media and Technology Team
VDB Loi, Myanmar

Yulie is a legal associate based in our Yangon Office and she assists Chinese clients in financing, transactional and regulatory matters. Yu Lie a qualified lawyer in Malaysia while she holds an LLM from the University of Nottingham, UK. She speaks English, Bahasa Malaysian, Mandarin and Cantonese.

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