Japan ’s Mitsui Sumitomo has entered Myanmar 's insurance market , after agreeing a joint venture ( JV ) with local firm IKBZ Insurance . The MS&AD Insurance Myanmar Holdings Limited is one of five Japanese insurers to recently join Myanmar 's insurance sector via JVs . This follows a decision in January by the Myanmar government to relax the rules on foreign insurance companies operating in the country . Having previously been a closed market , Myanmar has begun accepting applications for JVs within the country .
Japan’s Mitsui Sumitomo has entered Myanmar's insurance market, after agreeing a joint venture (JV) with local firm IKBZ Insurance. The MS&AD Insurance Group Holdings subsidiary is one of five Japanese insurers to recently join Myanmar's insurance sector via JVs. This follows a decision in January by the Myanmar government to relax the rules on foreign insurance companies operating in the country. Having previously been a closed market, Myanmar has begun taking applications for JVs within the country.