Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.
Axco’s Myanmar Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.
The Life & Benefits Report for Myanmar includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics
Real GDP growth (%)
Insurance Penetration (%)
Nay Pyi Taw
54.81 mn (2020)
Myanmar is the largest country in mainland south-east Asia with a land area of 676,577 square kilometres. It was a province of India, under Britain, named Burma until 1948. A coup d'etat in 1962 led to the establishment of a military government that ruled until 2011.
Gross Written Premium was MMK 80.8bn during 2016-17.
Until 2013, the state-owned Myanma Insurance (MI) had a monopoly. 12 private insurers were subsequently licensed, albeit restricted to writing certain classes. Most were composites, but in 2019 were splitting into separate life and non-life companies to facilitate joint ventures with foreign companies.