Singapore-based Asian Banking and Finance (AB&F) awarded IKBZ Insurance Co. Ltd. the Domestic General Insurer of the Year – Myanmar and the Domestic Life Insurer of the Year – Myanmar at the 2018 Insurance Asia Awards held at Shangri-La Hotel in Singapore on 12 July.
Director U Min Thant, assistant general manager Daw Chit Su Tun and senior manager Daw Tint Tint Wai of IKBZ proudly received the awards and Director U Min Thant delivered a thank you speech. The awards—judged by representatives from leading accounting firms, Deloitte, Milliman, Ernst and Young, KPMG, PwC Southeast Asia Consulting—signified that IKBZ, which dominates the largest market share in Myanmar, can facilitate the needs of the insurance sector and provide insurance payments in immediate and effective ways. It also has the largest insurance branches across the country and the highest insurance premium income compared with other private insurance companies. Being the biggest taxpayer, IKBZ helps support the growth of the country’s economy from the insurance sector. IKBZ was awarded many trophies by leading organisations in 2015, 2016 and 2017. In 2017, it was awarded the Best General Insurer of the Year 2017 and the Best Life Insurer of the Year 2017 by AB&F. This is the second time IKBZ is being recognised by the AB&F. Over 330 executives from over 200 banks and insurance companies from nearly 40 Asian countries attended the event.