October 25, 2019 – The Celebration Ceremony of the Business Alliance between Capital Life Insurance & Taiyo Life Insurance Company is held at Melia Hotel today evening 5pm.
In this Ceremony, Chief Minister of Yangon Regional Government,U Phyo Min Thein, the Ambassador of Japan Embassy in Myanmar,H.E Mr. Ichiro Maruyama, Chairman of Capital Diamond Star Group,U Ko Ko Gyi, Chairman of Taiyo Life Insurance, Mr. Katsuhide, Tanaka, Director General of Financial Regulatory Department, Ministry of Planning and Finance,U Zaw Naing, Managing Director, Chairman of Myanmar Insurance Association,Dr. Sandar Oo, Invitees attended this ceremony.
From the day the company starts up, within these six years, Capital Life has successfully opened Head Office and 10 Branches in Yangon and other cities. Capital Life is one of the companies which lead in selling endowment life insurance and protection type insurance in this market. In the coming future, Capital Life will expend and open the branches not only in cities also in the villages and it has already designed and planned to expand the insurance industry.
Taiyo Life Insurance which has a business alliance with Capital Life Insurance, started the life insurance in Japan more than 125 years, gets a strong belief from customers and one of the strong insurance companies in Japan. Taiyo Life strongly interests to enter the Myanmar Insurance market and so it has been the first Japan Insurance Company which opened the Representative Office in Myanmar.
Taiyo Life Insurance has already deeply researched the Myanmar insurance market and has a high commitment upon Myanmar. In Japan, Taiyo Life uses a good selling technique that they go to the people’s house to sell the life insurance policy. So that, this technique can also be succeeded in Myanmar insurance market. Like this achieving the belief from customers, being a strong life insurance company and understanding the Myanmar insurance market, Capital Life chose to become business partnership with Taiyo Life.
So, today is such an amazing day that Capital Life and Taiyo Life do business alliance to be successful in the future and to become top insurance company of Myanmar.
According to the instruction of Ministry of Planning & Finance to perform market liberalization, foreign insurance company are allowed to enter the Myanmar insurance market in the early 2019 and Capital Life and Taiyo Life start a mission to do business alliance and at the end of July 2019 they are chosen as a successful applicant.
In his speech, U Ko Ko Gyi, CDSG Group Managing Director said, “The main reason of Capital Life do business alliance with Taiyo Life is to expand the insurance market in Myanmar, to know the insurance knowledge in Myanmar people, to create better, creative life insurance products in market with better insurance services and to get a better job in Myanmar people. By using a good technique and experience which Taiyo Life Insurance has over 100 years in Japan, we will make to improve the human resource in Myanmar.”
In his speech, Mr.Tanaka, Taiyo Life Chairman said, “We have already decided to carry out together the duty of giving the pleasure to public and spread the life insurance in Myanmar. When we make research rapidly in Myanmar, we strongly believe that life insurance is necessary in Myanmar. We also believe that we will achieve a great success when combination of the knowledge and skills of Capital & Taiyo Life.”
In his speech, Mr.Soejima, Taiyo Life President said, “I think we need 3 facts to achieve success and get great results when we do business alliance between Capital Life & Taiyo Life in the future. First, we need to expand the sales strategy, Secondly, create new insurance products and last, use an IT technique. By doing business alliance, we will perform dynamically to get our mission to become a number one life insurance company in Myanmar.”
In June 2013, Capital Life Insurance Company received the license to operate life insurance business in Myanmar and started selling insurance products such as short term endowment life insurance, group life insurance, health insurance, travel insurance, personal accident insurance, education life insurance and credit life insurance.
Taiyo Life uses a good selling technique that they go to the people’s house to sell the life insurance policy. So, this technique can also be succeeded in Myanmar insurance market.
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