Partnership Announcement: The Strategic Partnership between Myanmar Oriental Bank and Dai-ichi Life Insurance Myanmar Limited has launched its Bancassurance services in Yangon
July 22, 2022
Yangon, 22 July 2022 – Dai-ichi Life Insurance Myanmar Ltd. (Dai-ichi Life), a part of Dai-ichi Life Group, one of Japan’s leading life insurers and Myanmar Oriental Bank (MOB) have launched its bancassurance operations with its debut in the 14 branches of the Bank in Yangon after the company signed an agreement for a strategic partnership with the bank earlier last year.
The agreement provides range of life insurance products addressing various needs of the Myanmar Market through the Bank’s various channels. With MOB’s long-standing history of serving the people of Myanmar for more than 28 years known for its strong customer orientation and corporate governance and Dai-ichi Life’s world class leading insurance services and experiences, the partnership brings about trusted solutions giving financial security to Myanmar communities and strengthening Myanmar’s financial markets through the development of the life insurance industry. With the commencement of the partnership, MOB’s customers now have access to knowledge about life insurance as well as financial planning consultation services in branches of MOB in Yangon. Dai-ichi Life is quickly expanding their life insurance services in other branches of MOB across the country. With Dai-ichi Life’s presence across all branches and various customer segments, MOB’s customer would be able to get access to financial advisory services and products to make sound financial planning for the future.
Dai-ichi Life’s Chief Executive Officer, Daw Zarchi Tin remarked, “Our partnership with MOB is a significant journey for the Dai-ichi Life Group. With our mission of standing ‘‘By Your Side, For Life’’, we are looking forward to working with MOB to provide long term solutions that allow the people of Myanmar achieve financial security.”
“The collaboration between Myanmar Oriental Bank (MOB) and Dai-ichi Life Insurance Myanmar, allows the companies able to provide a long-term life security and assurance protection through life insurance for our customers as well as the people of Myanmar,” said Daw Kyi Kyi Than, the Chairman of Myanmar Oriental Bank.
About Dai-ichi Life Group & Dai-ichi Life Insurance Myanmar Ltd.
Dai-ichi Life Insurance Myanmar (Dai-ichi Life) is a part of the Dai-ichi Life Group, a leading life insurance group from Japan. For over 120 years, the Group has been offering long-term financial protection and life insurance services to customers and their families across 9 countries.
In 2019, Dai-ichi Life obtained the official operation license to bring our world class life insurance service to deliver the people of Myanmar. “People First” philosophy guides our business here in Myanmar, and together with our local and international talents, we aim to carry out Dai-ichi Life’s 120 years of service quality to create a meaningful impact to the local community.
Dai-ichi Life is committed to raise the quality of life by passing on peace of mind through providing life insurance services under the Group mission of “By your side, for life” and contributing to the local community.
About Myanmar Oriental Bank Ltd.
Myanmar Oriental Bank (MOB) was incorporated in 1993 and offers efficient and reliable banking services, deposit-taking, lending operations, remittances, trustees, and electronic channel banking with 48 branches across Myanmar. Besides domestic banking, MOB has a global network by establishing worldwide correspondent relationships with 58 foreign banks and provides international banking services.
Moreover, MOB expanded its business by forming Oriental Leasing Company Limited (OLCL) as a subsidiary in 1995 to facilitate financial support to the people of Myanmar.
According to the mission of the bank, MOB always strives to provide it’s the best service to customers and to fulfill their financial needs and financial goals.
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