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Five Japanese insurers are teaming up with local players to enter Myanmar's newly opened insurance market, Nikkei Asian Review reported. Tokio Marine Holdings Inc. plans to buy a 35% stake in Myanmar-based Grand Guardian Insurance P.C.L.'s casualty arm for about $44.7 million. Mitsui Sumitomo Insurance Co. Ltd. will partner with Myanmar-based IKBZ Insurance Co. Ltd. while Sompo Holdings Inc. will team up with AYA Myanmar Insurance Co. Ltd.