We are Local, Strong And Committed.

AYA SOMPO’s unique approach is to go beyond protecting you to providing you and your loved ones with peace of mind. For now and for the future.

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As a general insurance service provider, AYA SOMPO Insurance provides nationwide service to tens of thousands of clients through its vast network and maintaining its own head office in Yangon’s bustling downtown district.

AYA SOMPO Insurance operates in more than 45 cities across Myanmar and has more than 570 employees. As a member of one of the largest financial groups in the country, AYA SOMPO Insurance combines local knowledge and network with international expertise. AYA SOMPO Insurance is a member of the UN Global Compact.

Vision

We look beyond the present. We go beyond insurance.

Mission

Through innovative solutions, we provide peace of mind.
For now and for the future.

OUR KEY VALUES

Peace of mind

The future is unknown, but planning ahead together with AYA SOMPO will help manage the uncertainties of tomorrow and give customers peace of mind.

Solutions

AYA SOMPO leads the way in providing customer- centred solutions that are simple and accessible. It informs and educates, promoting financial literacy and financial inclusion for the nation.

Beyond

AYA SOMPO is driven by the innovative spirit to deliver ever-better products and services. And we build up human capital beyond our company needs, for the needs of the country.

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U THAN ZAW

Vice Chairman

U MYO MIN THU

Chief Executive Officer

MR. HIROKAZU MORI

Chief Operating Officer

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Chaired by Non-Executive Director and comprised of senior management members including Chief Executive Officer, Chief Operating Officer, and Head of Internal Audit. External auditors may be invited as required. The committee makes recommendations to the Board on: (i) the proposals to the shareholders on the appointment and removal of external auditors; and (ii) the remuneration and terms of engagement of the external auditors. The selection process for appointing an auditor must focus on auditors having at least knowledge and understanding of insurance industry, insurance reserve valuation and insurance business operation. The committee monitors the effectiveness of, and receives regular reports from, the internal audit, risk and compliance, and legal functions. The committee reviews financial statements, procedures and systems of internal control over financial reporting. The committee reviews arrangements for compliance with the requirements stipulated by the regulators and receives reports on the audit, risk, and compliance matters of the company. The committee also reviews and guides the Enterprise Risk Management framework, mainly consisting of underwriting, credit, market, operational, legal, and other related risks to the company. The committee recommends risk philosophy and tolerance for board approval, defines the company’s risk appetite and reviews risk management policies, procedures, and processes proposed by related stakeholders and departments.

Chaired by Non-Executive Director. Comprised of senior management members including the Head of Human Resource, the committee is responsible on behalf of the board of directors to review succession plans for directors, and the appointment and/or replacement of key management personnel, access process and criteria for evaluation of the performance of the board, its board committees, management committees and directors, and review of training and professional development programs for the board and its directors and appointment and re-appointment of directors. The committee also reviews a framework of remuneration for the board and key management personnel and the specific remuneration packages for each director as well as for the key management personnel.  

Chaired by Non-Executive Director and comprised of senior management members including Chief Executive Officer, Chief Operating Officer, and Finance Divisional Head. The committee carries out the responsibilities delegated by the board of directors regarding recommendation of investment policy that lays down the operational framework for investment operations, and encompasses aspects concerning liquidity for smooth operations, compliance with prudential regulatory norms on investments, risk management/mitigation strategies to ensure commensurate yield on investments and above all protection of reserves and capital, which will be approved and adopted by the board.  

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Comprised of senior management members including Chief Executive Officer, Chief Operating Officer and Divisional Head and Deputy Division Heads of Business Division. The committee sets annual targets across the Bancassurance business in line with the company’s business strategy, executes to achieve set targets, monitors performance against targets, and makes improvements.  The committee works closely with bank partner(s) and is responsible to create long-term sustainable business for the company as well as to implement strategy for marketing, distribution, and promotion of general insurance products through partner banks. 

Led by Chief Executive Officer as Chair, comprised of senior management members including Chief Executive Officer, Chief Operating Officer, Head of Business Divisions and Head of Partnerships and Regional Business. The committee effectively represents and promotes the interest of AYA SOMPO Insurance with a view to provide long term value and sustainability of the company. The Committee is responsible to explore potential business opportunities that create long-term sustainable business for the company and also to implement strategy for marketing, distribution and promotion of general insurance products through the AYA SOMPO network. The Committee is accountable to the Management and Board members, and as such is responsible for the overall business growth, better customer services, serve good purpose to the industry and expand distribution channels to enhance company’s network, brand and value.

Lead by the Head of Corporate Planning Department as Chair to strategically plan the Company’s short-, medium- and long-term business sustainability with the respect to its vision and mission, and in response to market condition and comprise of senior management members including Chief Executive Officer, Chief Operating Officer and Head of Business Development. The committee aims to effectively represent and promote the interests of the Company with a view to provide long term value and sustainability of the company. Also, the Committee is accountable to the Management and Board members, and as such is responsible for the business planning of the Company.

Led by the Head of Claims Department as Chair. Comprise of senior management members including Principal Officer, Head of Audit, Risk and Compliance, Head of Underwriting, and Legal Officer. The committee reviews claim management processes, evaluates loss adjustment procedures, including the quality in decision making on claim disbursements and the evaluation process on the need of external loss adjustment teams. The committee also oversees the effectiveness and administration of claims-related policies, recommend enhancements to the policy or procedures, and to approve larger claims. 

Led by Non-Executive Director and comprised of key members from Finance, Admin departments and key stakeholders. The committee prioritizes and implements purchase of default properties, servicing materials and equipment that are financially or otherwise advantageous to the company and its associates. The purchasing committee has the ultimate responsibility to recommend to the board of directors in order to engage purchasing functions that are mutually advantageous to obtain accurate performances in doing business with full transparency. The committee also oversees the effectiveness and administration of procurement policies, recommends enhancements to the policy or procedures, and to approve purchasing assets and capital expenditures in line with the company strategy. 

 

Led by Certifying Actuary and comprised of key members from the Management Team, Finance, Technical and Claims departments. The committee reviews and monitors the actuarial estimates of the reserves as recommended by the Certifying Actuary and is responsible for finalizing and recommending the technical reserves to be booked in the financial accounts that are to be reported to the management and the board of directors. The committee is to ensure that the company has adequate reserves to be able to meet its financial obligations as and when the fall due, comply with local statutory guidelines, manage, and control reserving risks, and provide relevant information to the management team that allows efficient and effective management of its financial resources. 

Chaired by the Chief Operating Officer and comprised of Divisional Head Operation Division and management members from Customer Experience, Corporate Communications, and Claims. The Customer Service Excellence Committee (SEC) aims to provide oversight on service quality standards and to promote and maintain positive customer experience. The objectives of the SEC are to embark on activities that would improve and enhance customer service and ensure positive customer experience in line with the company’s strategic plan.

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