Tokio Marine Holdings commences non-life insurance joint venture in Myanmar

Tokio Marine Holdings (TMHD) has started a non-life insurance joint venture in Myanmar. Grand Guardian Tokio Marine General Insurance Company Limited (GGITM) is a joint venture between Tokio Marine and Nichido Fire Insurance (TMNF), the subsidiary of TMHD.

It will be led by CEO Myo Naung and deputy CEO Naoto Ishizuka. It will be based in Kamayut Township, Yangon Region, Myanmar.

Tokio Marine Holdings said: “Since TMHD had obtained 15 percent of GGITM shares through its subsidiary TMNF and fulfilled all the conditions required by Myanmar authorities, as of November 28 2019, Myanmar authorities have issued the approval for the establishment of a non-life insurance joint venture in Myanmar. With this approval, GGITM will commence its operations. We would dispatch directors and specialists to GGITM to expand its business in the rapidly growing Myanmar insurance market.”