AIA Myanmar becomes first foreign life insurance company in Myanmar

1 December

AIA, recently announced that it has signed up its first life policy insurants, just after receiving its license from Ministry of Planning and Finance (MoPF).

AIA Myanmar achieved the license from Myanmar government to sell its life insurance policies through a 100% wholly-owned subsidiary. The first policies signings kick off AIA’s efforts to offer Myanmar communities top life insurance services which feature extra benefits on top of its core products for customers. These include discounts for qualified insurants and convenient access to a wealth of expertise from its team of consultants on innovative coverage choices and health services.

Mr. Nhon Ly (Luc), CEO of AIA Myanmar said, “We are excited to inform the people of Myanmar that we have received the regulatory approval from the Ministry of Planning and Finance (MoPF) to commence operations and offer life insurance policies for the people of the country. This is a truly a momentous moment for the insurance industry here. As we forge ahead to expand our operations throughout Myanmar, AIA aims to grow the local insurance industry, leveraging our company’s 100 years of experience, to deliver on our promise to ensure people enjoy Healthier, Longer, Better Lives.

The company has now also announced that it has signed up its first health insurance policy holders, U Zaw Zaw, Chairman of Max Myanmar Group of Companies, U Aung Chit Khin, an entrepreneur, marketer and educator who actively promotes the role and responsibility of business organizations in the country’s development, U Zaw Zaw Aung, Associate Professor, Ko Htoo El Lynn, a popular vocalist in Myanmar, and Ko Htoo Char, a well-known actor.

The headquarters of AIA Myanmar is located at Office Tower of Junction City, integrated development strategically located at the junction of Bogyoke Aung San Road and Shwedagon Pagoda Road in the city’s central business district. —GNLM