Insurers are interested in Burma

Insurance giants are particularly keen on the Burmese market, which looks appealing according to the experts. This interest results from the authorities’ pledge to set up a regulatory framework that would ensure insurance development. The lifting of American and European sanctions imposed on Burma has enabled the latter to resurface on the scene. Prudential, AIA Group and Manulife Financial are among the companies that are interested in the market. Tokio Marine, Sompo Japan Insurance, Mitsui Sumimoto Insurance and United Overseas Bank have already established a sales office in the country. Burma counts 60 million inhabitants with a GDP per capita of 850 USD. Its economic growth rate is set at 7%.