YANGON -- Sompo Japan Nipponkoa Insurance has entered Myanmar's auto insurance market in a first for a foreign company.
The Japanese nonlife insurer recently began selling car insurance in the Thilawa special economic zone to the southeast of Yangon. It will mainly market vehicle insurance, as well as bodily injury and property damage liability coverage, to customers including businesses operating in the zone. With just 5% or so of drivers in Myanmar carrying insurance, the market is expected to enjoy significant growth.
