CB Life Insurance will focus on innovative products and services to create better lives for the Myanmar people7 Nov 2019
Citizen Business Insurance (CB Insurance) and Thailand-based Thai Life Insurance together announced the name of their joint-venture insurance company, CB Life Insurance, to offer life insurance products to the Myanmar market.
On Tuesday the two companies stated that CB Life Insurance marks a milestones in a business alliance that will be a leading life-insurance provider in Myanmar.
The newly formed CB Life Insurance says it aims to contribute to society through innovative products and services to create better lives for the people of Myanmar.
“The strategic alliance will make CB Life stronger and will bring in much needed insurance expertise and know-how to Myanmar”, said CB Life Insurance Chair U Khin Maung Aye.
U Khin Maung Aye said the company will develop new life insurance products to meet the needs of the local market. CB Life Insurance will focus on insurance products that cover the needs of individuals and offer insurance solutions for them..
“With the alliance, our company will be able to offer more innovative products to our customers. Then, the joint venture will bring technology, new products, and expanding distribution channels so the company, can contribute to the country and its citizens,” said U Thaung Han, managing director of CB Life Insurance.
According to the agreement, CB Insurance holds a 65 percent stake in the partnership and Thai Life Insurance holds 35 percent.
(The Myanmar Times: https://www.mmtimes.com/news/cb-life-insurance-focus-innovative-products.html )