Life Report

Product Insurance Market Reports Life Rev Myanmar

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice


  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Myanmar's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Myanmar's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Myanmar

The Myanmar life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Myanmar. Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Myanmar and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Myanmar’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Myanmar is available.

Axco’s report describes the regulatory framework that applies to the domestic life insurance sector, including whether non-admitted insurance is permitted in Myanmar; as well as the legislation necessary to know regarding Myanmar’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Myanmar with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Myanmar market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


The report describes the public and private healthcare system in Myanmar, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Myanmar's pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Myanmar report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Myanmar Life and Benefits Report Extract

Below are brief extracts of information from the Myanmar Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Myanmar's insurance market is still relatively small and under-developed, with much of the population living below the poverty line. For 2018 its life market ranked 131 on the worldwide list of premium income produced by Axco Global Statistics, between St Lucia and Mali.

It is worth noting on the figures above that Myanmar's life ranking had progressed from 157 in 2013. The country is rich in natural resources and has vast potential for economic growth ....


Social Security Law 2012 and the accompanying Social Security Rules took effect 1 April 2014, their terms providing for a Social Security Board to manage the social security system, including an old age pension benefit (not yet implemented) and survivor benefit insurance.

The concept of private pensions and other types of employee benefit remain undeveloped ....


The measures implemented by the Myanmar government to contain the spread of COVID-19, together with the weakening world economic growth, significantly impacted all sectors of Myanmar's economy. Real GDP growth for the year ending September 2020 was estimated at around 1.3%, compared to 6.8% in the previous year Although life premium growth in USD as reported by local sources of some 5% for the 2019-20 year appeared respectable, preliminary exchange rate figures for 2020 translated it to a reduction ....

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