Sompo Japan Nipponkoa first foreign insurer granted Myanmar license

Japan's Sompo Japan Nipponkoa Insurance Inc. is the first foreign insurer to be granted license to operate in Myanmar, reported Asia Insurance Review citing the Myanmar Times.

The temporary license restricts the insurer to operating within the country's Thilawa special economic zone.

The temporary license is for six months, following which Myanmar's finance ministry would look at granting a permanent license.

The finance ministry looks to issue more licenses in the future.

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