Prudential Myanmar Life Insurance Limited, a wholly-owned business unit of Prudential Corporation Asia has signed a memorandum of understanding (MoU) with one of Myanmar largest Bank, Yoma Bank to establish an exclusive partnership to distribute life insurance solutions to customers in Myanmar.
Under the proposed partnership, Yoma Bank’s customers will have access to Prudential Myanmar’s savings and protection products at the bank’s branches across the country.
Mr. Asit Rath, CEO of Prudential Myanmar, said, “We look forward to working with Yoma Bank as our strategic partner in Myanmar. Yoma Bank is one of the most innovative and digitally-oriented banks in the country. We are confident that our proposed partnership will allow us to reach more people in this growing market and help them achieve their financial aspirations and life goals. Prudential Myanmar is now one step closer in our mission to provide life insurance to everyone, everywhere at a click. We look forward to a successful and symbiotic partnership.”
Prudential was granted a license from the Ministry of Planning and Finance of Myanmar to operate a wholly-owned life insurance business in the country in November 2019.
Sources: Yoma Bank, The Myanmar Times
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