GRAND Guardian Insurance-GGI, Japan’s Grand Guardian Tokio Marine General Insurance Co Ltd and Grand Guardian Nippon Life Insurance launched their joint venture business in Yangon yesterday. The launching ceremony was formally opened by Yangon Region Hluttaw Deputy Speaker U Lin Naing Myint, Secretary of Insurance Business Supervisory Board U Zaw Naing, Director of GGI Holding Public Co Ltd U Ye Myint, Mr Shinkichi Miki of Tokio Marine & Nichido Fire Insurance, Mr Koji Ichiba of the Nippon Life Insurance and Mr Kazuyuki Takimi of Japanese Embassy in Yangon. Following the opening ceremony, the officials of the JV business met with the media. Grand Guardian Nippon Life Insurance is one of the three foreign life insurance companies, set up as joint ventures with local partners, which have been granted licence by the government. Likewise, the Grand Guardian Tokio Marine General Insurance Company Limited is one of the three nonlife insurers, set up as joint ventures between foreign and local insurers. —Yi YiMyint