Summit to deliver insights on Myanmar insurance market opportunities
June 11-12, 2019 | Myanmar (Burma)
In a long-awaited move, foreign insurance providers have finally been given the green light to operate in Myanmar, according to a press release. Myanmar is the last frontier in South East Asia that has a great potential insurance market, with general insurance growing at 16.1% a year and life insurance at 25.3% a year, and with insurance density only estimated to be US$0.99537 and penetration at 0.07%. This liberalization is expected to accelerate economic growth through risk transfer and dramatic transformation is likely to affect the insurance industry over the coming months. Magenta Global (Singapore), in consultations with the industry regulator and players, will be hosting a two-day summit providing a platform for the gathering of local, regional and international participants.