You are using an outdated browser and your browsing experience will not be optimal. Please update to the latest version of Microsoft Edge, Google Chrome or Mozilla Firefox. Install Microsoft Edge

April 10, 2019

Practical Law Insurance and Reinsurance Global Guide – Myanmar Chapter

Subscribe to Updates
Thomson Reuters Practical Law

The 2019 edition of the Insurance and Reinsurance Global Guide , a Practical Law Company publication that provides an overview of insurance and reinsurance law in 38 jurisdictions worldwide. The Myanmar chapter of the guide was written by members of Tilleke & Gibbins’ Yangon office, including Yuwadee Thean-ngarm, director, and Nwe Oo, attorney-at-law.

The Q&A gives a high level overview of the market trends and regulatory framework in the insurance and reinsurance market; the definitions for a contract of insurance and a contract of reinsurance; the regulation of insurance and reinsurance contracts; the forms of corporate organization an insurer can take; and the regulation of insurers and reinsurers, including regulation of the transfer of risk. It also covers: operating restrictions for insurance and reinsurance entities; reinsurance monitoring and disclosure requirements; content requirements for policies and implied terms; insurance and reinsurance claims; remedies; insolvency of insurance and reinsurance providers; taxation; dispute resolution; and proposals for reform. Finally, it provides websites and brief details for the main insurance/reinsurance trade organizations in Myanmar.

Practical Law Company is owned by Thomson Reuters and provides global guides covering legal know-how for corporate lawyers.

Download Full Article
Related Professionals

Industries

Insurance

Location

RELATED INSIGHTS​ 

March 11, 2020
The latest update to the Laos chapter of Thomson Reuters’ Practical Law guide to insurance and reinsurance has been published, written by legal practitioners from Tilleke & Gibbins’ Vientiane office. The guide presents a Q&A-style overview of insurance and reinsurance laws and practices in major jurisdictions around the world.
Read More
January 28, 2020
In late 2019, Thailand’s cabinet approved in principle the draft amendments to the Life Insurance Act B.E. 2535 (1992) and Non-Life Insurance Act B.E. 2535 (1992). The key changes introduced by the draft amendments include:Added provision on insurance business transfers that result in a change of insurer. In such a case, the transferee of the insurance business is required to notify the insured of the right of objection. A novation by substitution of the debtor will be deemed to occur when the insured does not object to the business transfer.
Read More
January 28, 2020
Tilleke & Gibbins authors have provided the latest update to the Thailand Q&A section of Doing Business in… , a Q&A-style guide published by Thomson Reuters Practical Law that presents an overview of recent legal developments affecting doing business in 59 jurisdictions worldwide. The Thailand chapter of the guide was written by attorneys from Tilleke & Gibbins and presents an overview of Thailand’s legal system and key laws applicable to foreign companies doing business in the country.
Read More
January 13, 2020
On January 7, 2020, the Thai General Insurance Association hosted a session on the insurance industry’s compliance with the Personal Data Protection Act (PDPA), which was enacted in 2019 and is due to come into force on May 27, 2020. Representatives from the Office of Personal Data Protection Commission (PDPC) and the Office of Insurance Commission (OIC) gave presentations, followed by a panel discussion with representatives of the OIC and the Thai General Insurance Association.Speakers were able to give clarity on a number of issues:
Read More