Share with your friends

Myanmar: Requirements for insurance, reinsurance entities

Myanmar: Requirements for insurance, reinsurance

The Insurance Business Regulatory Board (IBRB) issued directive 4/2020 (12 May 2020) concerning reinsurance in Myanmar. The directive’s measures have an effective date of 1 October 2020.


Related content

Under the directive, all insurers and reinsurers will need to:

  • Maintain maximum retention commensurate with its financial strength, risks, and volume of business
  • Maintain a retention programme for each segment and by product
  • Demonstrate that it is not “fronting” for cross-border reinsurers (a reinsurer without a licence to operate in Myanmar)
  • Maintain a minimum retention of 20% of its life insurance portfolio

Read a May 2020 report prepared by the KPMG member firm in Myanmar

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal