Japanese insurers flocking Myanmar

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.

Read more.