License for foreign insurers

The legislation governing the activities of foreign insurers in Myanmar has come into effect. The implemented law creates a set of rules and standards allowing the establishment, under certain conditions, of foreign insurers.

The latter will, after payment of 30 000 USD in license fees, settle in "special economic zones".
Today, 15 Asian and European insurance companies are operating in the country. State monopoly over the insurance business established in 1952 came to an end in 2014.