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Insurance

Foreign insurers scrap Myanmar launches over last-minute policy change

New condition throws cold water on plans by Thai and South Korean players

An insurance agent speaks to prospective customers at an office in Yangon. (Photo by Yuichi Nitta)

YANGON -- Three foreign insurance companies have canceled plans to launch operations in Myanmar after the government tweaked the requirements at the last minute.

Thailand's Muang Thai Insurance and Muang Thai Life Assurance, as well as South Korea's DB Insurance, could not finalize agreements with local partners, an industry insider said.

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