Mitsui Sumitomo plans to acquire a 10% stake in Myanmar’s IKBZ Insurance. The deal is set to be finalised by October after the parties submitted a joint venture application and passed a review by the nation's regulators in July. In July, Myanmar announced that it would allow foreign investors into its insurance sector for the first time since 2012.
Mitsui Sumitomo plans to acquire a 10% stake in Myanmar’s IKBZ Insurance. The deal is set to be finalised by October after the parties submitted a joint venture application and passed a review by the nation's regulators in July. The move forms part of Myanmar's recent efforts to open up its insurance sector to foreign investment.