Leading US insurer Chubb plans to exit Myanmar

Chubb, a leading American insurance company, is reportedly planning to exit Myanmar, prompting criticism from its customers.

Chubb Insurance Company, a subsidiary of Chubb Corporation, founded in Philadelphia in 1792, employs more than 30,000 people worldwide and operates in 54 countries, including Zurich, New York, London, and Paris.

On April 8, 2019, the company received approval from the Ministry of Commerce to operate a life insurance subsidiary in Myanmar.

There have been reports on social media that the company is leaving Myanmar after six years, and has recently suspended its insurance-related activities.

The suspension began on December 12, according to some people working with the company and insurance agents.