AIA Myanmar, China-based insurance company is pleased to announce that it has entered into a partnership with AYA financial group and Max Myanmar Group to offer life insurance, according to the AIA press release issued on 5 December.

The partnership, which is the first of its kind in Myanmar represents a long-term, strategic and purpose-led partnership between AIA and AFG MAX and will be focused on making strong social impact and providing insurance propositions to people of Myanmar, through a combination of AIA’s deep insurance experience across Asia-Pacific and AFG MAX’s local expertise. The partnership also aims to raise the awareness of life and health insurance in the country, which are crucial to help Myanmar people live healthier, longer, better lives.

AIA Myanmar was awarded a life insurance license by the Republic of the Union of Myanmar Ministry of Planning, Finance and Industry to operate in the country through a 100% wholly-owned subsidiary on 28 November.

“We are extremely excited to be entering this long-term strategic partnership with the AFG MAX Group. We believe that we share a mutual aspiration to contribute to Myanmar’s social and economic development and to bring innovative solutions to this growing market while honoring the rich culture of Myanmar. This partnership will help AIA deliver on our brand promise of helping Myanmar people live healthier, longer, better lives,” said Nhon (Luc) Ly, CEO of AIA Myanmar.

We are extremely pleased to enter into the partnership with AIA, one of the largest life insurers in the world. We strongly believe that AIA and AFG MAX will create the synergy needed to help us make a significant contribution to the lives of people in Myanmar, said U Zaw Zaw, Chairman of AYA Financial Group and Max Myanmar Group.

In addition, as part of efforts to deliver social impact, AIA Myanmar and AFG MAX also announced their ambition to “Light up the lives of Myanmar people” through providing underprivileged families with access to electricity and to aid education of their children. The two partners will be donating solar panels to villages in Myanmar, with the hope of making a significant impact on the future of people in these villages.—GNLM (Translated by Hay Mar)