The views expressed in this presentation are the views of the author and do not necessarily reflect the

views or policies of the Asian Development Bank Institute

(ADBI), the Asian Development Bank (ADB), its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included
in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.
Presented By: Daw Khin Moe Kywe
Deputy General Manager, Myanmar
Myanma Insurance
Introduction

- In 1952, Union Insurance Board was set up

- Since 1-3-1952, life insurance has been underwritten

-Since 1-7-1957, general insurance has been underwritten

- In 1969, banks & UIB were combined

- In 1976, Myanma Insurance Corporation was separated from banking

organization

- After 1981, changed to present one Myanma Insurance

- Myanma Insurance has opened 39 branch offices

Four Main Insurance Classes

- Life Insurance

- Motor Insurance

- Fire, Miscellaneous and Engineering Insurance

- Marine, Aviation and Travel Insurance

Life Insurance
- Government servants shall insure compulsory life insurance with
Myanma Insurance
- Monthly premium is calculated, based on the age and of pay scale

Kinds of Life Insurance

- Life Insurance for Governments Servant
- Life Insurance for Public
- Life Insurance for Army
- Group Life Insurance
- Seaman Life Insurance
- Snake Bite Insurance
- Shore Job
- Sportsmen Life Insurance
-Health Insurance
-Farmer Life Insurance
Health Insurance
- Health Insurance has been implemented since 2015.

- The new version of Health Insurance has been underwritten since 1.1.2017.

- Health Insurance cover can be purchased by every person between the age
of 6 and 65 who is in good health.

- Together with the Basic Health Insurance cover, one can also purchase
Additional Health Insurance cover and Optional (1) and (2) covers.
Third Party Liability Insurance
- In1976,TPL Rules were enacted in accordance with Pyithu Hluttaw Rules No 4
- In 2003, the rules were revised
- Under these rules, all motor vehicle owners shall insure Compulsory TPL
Insurance with Myanma Insurance

Comprehensive Motor Insurance

- Comprehensive Motor Insurance is underwritten directly by Myanma
Insurance in local currency
- In foreign currency, Myanma Insurance reinsures with reinsurance co.,
Fire, Miscellaneous and Engineering Insurance

- Fire Insurance
- Miscellaneous Insurance
Fidelity Insurance
Cash in Transit Insurance
Cash in Safe Insurance
Personal Accident Insurance of the Cooperate Executive
Workman’s Compensation
Personal Accident and Disease Insurance
Burglary Insurance
- Engineering Insurance
Contractor’s All Risks (CAR)
Erection All Risks (EAR)
Electronic Equipment Insurance (EEI)
Machinery Insurance
Marine, Aviation & Travel Insurance

- Marine Insurance
Marine Cargo Insurance
Marine Hull Insurance
- Aviation Insurance
Aviation Hull & Liability Insurance
Crew Personal Accident Insurance
War, Hijacking Risks Insurance
Deductible Insurance
- Travel Insurance
- Oil & Gas Insurance
 Income by class of insurance
for the financial year 2016-2017

THIRD PARTY LIFE Kyats in Million

19863.36, 42% 3018.35, 6%

FIRE &
ENGINEERING
MARINE & AVIATION 21130.80,
3046.36, 7% 45%

LIFE FIRE & ENGINEERING MARINE & AVIATION THIRD PARTY

Reinsurance

- Two methods of reinsurance

Facultative Method
Aviation Insurance
Oil & Gas Insurance

Excess of Loss
Marine Excess of Loss Treaty
Fire Excess of Loss Treaty
Agent
- Myanma Insurance ,like all other insurers, is using agency system extensively

- over 1000 agents

Conclusion
- Up to now, Myanma Insurance has sole authority and is only state-owned
organization

- Nine composite insurance companies & three life insurance companies

appeared

- It has the largest market control, existing for nearly 66 years in the market

- New products are introduced by Myanma Insurance year by year

- There is a great potential in Myanmar Insurance market and the future of

Myanma Insurance is shining brightly