After decades of slow liberalisation, Myanmar’s insurance sector is on the cusp of a significant transformation. Several recent policy announcements indicate foreign companies will soon be permitted to conduct business in the country, more than 50 years after the sector was first nationalised. Myanmar’s 54m-strong population is almost...
Once reserved for ambitious start-ups and industry-leading tech operators, financial technology (fintech) has more recently caught the attention of major private sector firms and government planners alike, becoming a regular feature in budget speeches and strategic development plans. As fintech progressively plays a larger part in the lives of...
Two of the biggest trends in global insurance in recent years are premium growth in emerging markets and the rising importance of technology across the supply chain. The latter has come to be referred to as InsurTech, a potentially disruptive trend that heralds both threats to and opportunities for incumbents and newcomers alike. While...
Bank lending in Myanmar has soared since 2011, as the country’s democratic transition and economic liberalisation kick-started business and investment activities across multiple sectors. However, low credit access remains one of the most serious challenges facing businesses in the country. Limited availability of critical business and consumer...
While the ASEAN Economic Community (AEC) was formally established in 2015, financial cooperation across the region remains somewhat fragmented. Goods and services move freely between countries, but banks, stock exchanges and securities companies tend to be limited to their home markets.
Officials have clarified the timeline for foreign insurers to enter the Myanmar market – a move that will boost competition and penetration. In August 2018 the Insurance Business Regulatory Board (IBRB) announced that overseas insurers would be allowed to formally enter the market at some point during FY 2018/19, which began October 1. “We are...
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