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British Insurer Prudential to Set Up Office in Burma

15 November 2013

British insurance and financial services firm Prudential Plc. Has been awarded a license to set up an office in Rangoon, according to a statement Thursday. Burma’s Directorate of Investment and Company Administration (DICA) granted Prudential permission to establish a representative office on Oct. 29, the company, which hopes to eventually get a full operating license, said. “Prudential is committed to the long-term development of the insurance sector and the capital market in the country,” Prudential Corporation Asia CEO Barry Stowe is quoted as saying. “We will offer our expertise to support the Myanmar Government’s efforts to develop the financial services available to its people.”