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Reinsurance may become foreign companies' entry-point to Myanmar: Law firm

January 31, 2014 - 6:00am


Law firm Clyde & Co. has said there could be reinsurance opportunities in Myanmar for foreign firms even as the government looks to keep the insurance market closed, Asia Insurance Review reports.

Clyde said the insurance market is still developing and it is expected that there could be "plans to establish a state-owned reinsurer." It added that it "is likely that a policy of 30% compulsory reinsurance to this state reinsurer will be adopted, with the domestic insurers free to place the 70% balance with foreign insurers."

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