Page 32 - AEC Digital Edition

ASEAN MARKET REPORTS

Myanmar

General Information

Land Area 653,508 sq km.
Climate Tropical monsoon; cloudy, rainy, hot, humid summers (southwest monsoon, June to September); less cloudy,
scant rainfall, mild temperatures, lower humidity during winter (northeast monsoon, December to April).
Capital Rangoon (Yangon).
Form of Government Parliamentary government took power in March 2011.
Chief of State and Head of Government President THEIN SEIN.
Population (July 2014 est)* 55,746,253.
Population Growth Rate (2014 est) 1.03%.
Ethnic Composition Burman 68%, Shan 9%, Karen 7%, Rakhine 4%, Chinese 3%, Indian 2%, Mon 2%, other 5%.
Religious Affiliation Buddhist 89%, Christian 4% (Baptist 3%, Roman Catholic 1%), Muslim 4%, animist 1%, other 2%,
Birth rate (2014 est) per 1,000 population 18.65 births.
Death rate (2014 est) per 1,000 population 8.01 deaths.
Infant Mortality Rate (2014 est) per 1,000 live births 44.91 deaths.
Life Expectancy at Birth (2014 est) Male 63.57 years; Female 68.46 years.

Economy

Monetary Unit K1 (Myanmar Kyat) = 100 paisa.
Exchange Rate (18 June 2015) US$1 = K1,112.61 (Myanmar Kyat).
GDP purchasing power parity (2014 est) US$244.3 billion.
GDP per capita (2014 est) US$4,800.

Insurance market structure

Number of registered insurers

2014

Composite insurers 9

Life insurers 3

Total 12

Capital requirement
Life US$4.4 million (MMK4.9 billion)
Non-life US$33.3 million (MMK37.0 billion)

Gross written premiums 2012
(US$ mln)
Myanmar Insurance 17.4
(State-owned) (MMK19.4 bln)

Insurance penetration 0.05%

30 AEC – IMPACT ON INSURANCE • DECEMBER 2015 Source: Asia Insurance Review

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