Global risk advisor and insurance broker Willis Group Holdings (WSH) has established a representative office in Myanmar.
According to WSH, the new office will support the firm’s multinational and Asian client base.
Additionally, the office will also provide a point of contact for domestic businesses and the insurance industry in Myanmar into the firm’s regional and global capabilities.
Willis Asia CEO, Adam Garrard, said: "Myanmar’s insurance industry is at a relatively early stage in its development, and we are proud to be the first of the larger global brokers with an office there. We hope Willis’s global expertise and experience will help in the development of a strong insurance industry."
Willis Myanmar chief representative officer, Khaing Zar Aung, added: "Our presence on the ground enables us to liaise closely with local and global clients and insurers in Myanmar, and to strengthen and build relationships.
"Willis has already developed a strong relationship with Myanma Insurance by advising and placing reinsurance for its major risks.
"The new office will help us build on such links. Importantly, Willis will now be in a position to help Myanmar’s insurance industry to access the very latest risk management innovations and to develop best practice."