News Release

Joint Venture Application in Myanmar Shortlisted by MoPF
Myanmar, 20th May 2019 – Sompo Holdings, Inc. (Group CEO & President: Kengo Sakurada;hereinafter “Sompo Holdings”), hereby announces that Sompo Japan Nipponkoa Insurance Inc.
(President: Keiji Nishizawa; hereinafter “Sompo Japan Nipponkoa”), a wholly owned subsidiary ofSompo Holdings, has submitted an Expression of Interest with AYA Myanmar General Insurance
Company Limited (hereinafter “AMGI”), a subsidiary of AYA Myanmar Insurance (Chairman: UZaw Zaw) which is an affiliate of AYA Bank Ltd, the second largest bank in Myanmar, in forming ajoint venture to the Ministry of Planning and Finance, the Government of the Republic of the Unionof Myanmar (hereinafter “MoPF”), and has been selected as a shortlisted applicant.
1. Our activities in Myanmar
Sompo Japan Nipponkoa was the first foreign insurance company to obtain a business license for
the Thilawa Special Economic Zone in 2015 and has been providing insurance services in thezone. In December 2018, together with Myanma Insurance, and Myanma AgriculturalDevelopment Bank, which provides loans to farmers, Sompo Japan Nipponkoa launched a pilot
project for the “Weather Index Insurance" for the farmers, one of the major industries in Myanmar.
2. Background of selection of applicants
Since Sompo Japan Nipponkoa signed a memorandum of understanding on business cooperation
with AYA Myanmar Insurance, which is predecessor company of AMGI, in 2016, we have built aclose relationship through deepening the interaction, holding training and seminars, etc. In
response to the official announcement made by MoPF in January 2019 regarding the non-life
insurance market liberalization, Sompo Japan Nipponkoa and AMGI jointly submitted theExpression of Interest to form a joint venture company with a 35% stake of Sompo JapanNipponkoa. The application has now been shortlisted by MoPF.
3. Future
Sompo Holdings will proceed with the application process toward the establishment of a jointventure between Sompo Japan Nipponkoa and AMGI.
4. Outline of AMGI(1) Name of firm

AYA Myanmar General Insurance Company Limited(2) Address

No.23, Kan Yeik Thar Road, Tha Pyay Gone Ward, Mingalar
Taung Nyunt Township, Yangon (East), Yangon, Myanmar(3) Business description

Non-life insurance business(4) Chairman

U Zaw Zaw
About 11.9 billion kyat (about 0.9 billion yen) *1(5) Gross written premium(Fiscal year ended March 2019)(6) Year of establishment*22018(7) Number of employees*3475

News Release*1 Conversion at an exchange rate of 1 kyat = 0.0730 yen*2 Prior to the liberalization of Myanmar insurance market, AYA Myanmar Insurance establishedAYA Myanmar General Insurance Company Limited as a non-life insurance company and AYA
Myanmar Life Assurance Company Limited as a life insurance company in 2018 due to the requestof splitting their composite license into non-life and life insurance business by MoPF.
*3 As of the end of March 2019###For media enquiries, please contact:
Yu Yu Maw
+95 9 42005 8196
Zeno Group Myanmar Correspondent
Akansha Rai
Akansha.Rai@zenogroup.com+65 9643 9251
Zeno Group Singapore

About Sompo Holdings
Management of P&C insurance companies, life insurance companies, and other companies
controlled as subsidiaries pursuant to the Insurance Business Law, and other related operations.
Its management philosophy is “We will at all times carefully consider the interests of our customers
when making decisions that shape our business. We strive to contribute to the security, health,and wellbeing of our customers and society as a whole by providing insurance and related servicesof the highest quality possible”. SOMPO Holdings aims to be the best customer service provider
both at home and abroad. As the core company of the SOMPO Holdings, Sompo Japan
Nipponkoa, originally established in Japan in 1888 as a general insurance company, hasestablished a network spanning 218 cities in 30 countries including Europe, the Middle East, NorthAmerica, Central and South America, Asia, Oceania and Africa. In addition to aiming to be aproperty and casualty insurance company that is most appreciated by customers and leads theindustry not only in scale but also service quality, SOMPO Holdings group is also driving thecreation of a “theme park for the security, health, and wellbeing of customers”.
For more information, please visit
https://www.sompo-hd.com/en/