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Insurer AIA to Open Burma Office

27 February 2013

AIA Group Ltd, Asia’s third-biggest insurer, said on Wednesday that it was planning to open a representative office in Burma, as part of a strategy of targeting demand in fast-growing Southeast Asian economies. AIA’s chief executive, Mark Tucker, told reporters on a conference call that the company had received “provisional approval” to open the representative office, which he described as a “listening and observing post”. “It clearly once was a very attractive market and will be again,” Tucker said. A representative office allows a company to establish a presence in a country but does not permit a company to conduct business.—Reuters