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NEWS - Myanmar Calls for Extensive

Myanmar Calls for Extensive Insurance Services


               YANGON (Dec. 23) XINHUA - A senior
               Myanmar finance official has called for
               extensive insurance services in the
               country, saying the importance of the
               insurance business has been increasing. 

               Speaking at the opening ceremony of the
               representative office of the Tokio Marine
               and Fire Insurance Co. of Japan here
               Monday evening, Myanmar U Khin Maung
               Thein, minister for finance and revenue,
               urged foreign insurers to work with
               Myanmar counterparts for mutual interest
               and thus help further develop the country's
               insurance market, the official newspaper
               The New Light of Myanmar reported

               Tokio is the third Japanese marine and
               fire insurance company with a
               representative office in Myanmar after two
               others, the Mitsui and the Yasuda, opened
               their offices in Yangon in January last

               Later, in June and October last year, the
               Mitsui and the Yasuda signed
               memorandums of understanding
               respectively with the state-owned
               Myanmar Insurance to set up insurance
               joint ventures. 

               Myanmar enacted the Insurance Business
               Law in June last year, permitting local
               private companies and foreign investors to
               undertake insurance business in the