A&G News 25 November 2019
Allen & Gledhill advised Grand Guardian Insurance Holding Public Company (“GGIH”) and Grand Guardian Tokio Marine General Insurance Company Limited (“GGTM”) on the acquisition of a 15 per cent. stake in GGTM by Tokio Marine & Nichido Fire Insurance Co. Ltd. (“TM”), and the establishment of a joint venture in GGTM by GGIH and TM.
This is the first round of approvals obtained from the Insurance Business Regulatory Board of Myanmar for a joint venture with a foreign entity in the insurance sector in Myanmar since the opening of the insurance sector to foreign investment by the government of Myanmar.
Advising GGIH and GGTM was Director Oh Hsiu-Hau from the Myanmar office of Allen & Gledhill.