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Prudential inks MoU with YSH

13 September 2023

Prudential Myanmar has entered a partnership with Yoma Group, according to an announcement by Yoma Strategic Holdings (YSH) on 12 September.

It said teams from both companies are working on a number of initiatives including expanding distribution of insurance products through Yoma Bank, improving healthcare solutions, and upgrading fintech services with Wave Money.

YSH said more details on the partnership will be announced in due course. 

Prudential Myanmar and Yoma Bank have been in a different partnership since 2020 where the insurer provides life insurance for the bank’s employees nationwide. 

The product is called PRUGroup Life and is a group term plan for companies and organisations, provides protection against financial loss should death, total and permanent disability, or disability happen to an employee covered under the plan.

It is not mandatory for companies in Myanmar to provide life insurance for employees but banks usually do so through their bancassurance partners.