BUSINESS – Sompo Japan granted license to sell insurance in Thilawa

A license was granted to Sompo Japan Nipponkoa Insurance on Monday to sell insurance products within Burma, the first of such licenses to be issued by the Burmese government. In 2014 Burma permitted foreign insurance companies into special economic zones (SEZs), with applications solicited this month. Sompo Japan will conduct business only in Thilawa SEZ and will be able to sell fire, cargo and life insurance products. It will principally target Japanese companies in Thilawa, according to Nikkei Asia Review.