Executive Summary

FNIG, in accordance with the insurance business law and regulations, has been accepting insurance operations since June 14, 2013 with the approval of the Ministry of Planning and Finance, Insurance Business Regulatory Board (IBRB) with the integrated insurance business license (No. 007) as FNIP, and with the general insurance business license (No. 003) as FNIG since April 1st, 2019 we have accepted the insurance business. With a company capital of 40 billion kyats and 500,000 US dollars invested, FNIG provides insurance services to the insurance industry in both Myanmar MMK and US dollars.

With 13 years of experience as an insurance company, as well as a strong management team and more than nearly 320 professional employees with insurance qualifications, we currently accept 15 types of insurance and provide insurance services to the public.

In order to cover the whole of Myanmar and with the aim of providing easy access to insurance protection and lives in peace of mind, in addition to the Yangon headquarters, there are (3) branch offices in Yangon, as well as (13) regional offices in the provinces/regions such as Mandalay, Monywa, Mawlamyine, Pyay, Magway, Pathein, Nay Pyi Taw, Myitkyina, Taunggyi, Taungoo, Kalay, Myeik, Pyigyitagon opening and providing insurance services to all across the Nation.

FNIG is delighted to state that it has the privilege of playing a critical role in Myanmar’s social and economic reforms by ensuring peace of mind and promoting opportunities for prosperity nationwide.

FNIG provides prompt 24 hours claims services and has been gaining the reputation of effective professional claims handling.

FNIG has opened insurance agent training schools in Yangon and Mandalay, producing candidates for the future insurance world.

As FNIG strives to provide insurance services for customers, as well as for internal customers, employees who are internal customers, to fully improve their work skills and to further improve their ability to work in the field of external relations, we are creating and developing the Management Development Program (MDP) which is a program to provide necessary skills for the management field.

Protecting the people of Myanmar!

Vision

To become a leading Insurance Company in Myanmar by fostering Industrial & Economic growth as well as improving quality of peoples’ lives.

Mission

To help our customers by protecting their assets and achieve financial security with Peace of Mind.

Core values

• Integrity
• Team Spirit
• Customer Centricity
• Respect & Courtesy
• Innovation
• Dedication

Our Quality Policies

FNIG must be the first choice of a customer whenever and wherever thinking about “Peace of Mind” for his life, property and automobile etc. We always support Myanmar insurance market with special attention on the awareness about the importance of insurance system.

FNIG concentrates on canvassing business both on direct basis as well as through our agents. We have appointed qualified resident personnel in many townships across Myanmar either as branch offices or mobile teams to serve our insuring public in any way. We offer insurance solutions to the difficulties and problems of the insuring public with the acceptance of risks managed by qualified and experienced underwriters.

FNIG seeks to establish a reputation for itself as an efficient and fair insurer by meeting its claims obligations in a prompt and efficient manner. To implement this resolution, we include in our team professionals such as counsels, surveyors, adjusters etc.

We shall continually maintain and improve our efficient and quality management system, meeting both the regulatory and ISO 9001:2015 requirements.

Lines of Businesses

Through innovative product design & dedication to meet our customers’ needs, FNIG has positioned ourselves as the powerful regional insurance provider.

OUR LINES OF BUSINESS INCLUDE :

1. Comprehensive Motor Insurance
2. Fire & Allied Perils Insurance
3. Cash in Safe Insurance
4. Cash in Transit Insurance
5.  Fidelity Insurance
6. Marine Hull Insurance
7. Inland Marine Cargo Insurance
8. Overseas Marine Cargo Insurance
9. Travel Insurance
10. Highway Express (Special) Travel Insurance
11. Industrial All Risk Insurance (start from 1st October, 2020)
12. Construction All Risk/ Erection All Risk Insurance (start from 1st October, 2020)
13. Bailee’s Liability Insurance (start from 1st October, 2020)
14. Micro Health Insurance
15. Personal Accident Insurance
16. Health Insurance
17. Critical Illness Insurance
18. Parcel Insurance

Our lines of business are not limited to these. We will launch new product lines in the near future as we move forward.

Services

We put focus on the following areas as we believe these areas are our core strengths in delivering our services:

1. Identifying customer needs
2. Promoting Insurance awareness
3. Managing customer’s risk
4. Responsive Claims Center
5. Innovative Information & Technology
6. Call Center
7. Claim Hot Lines
8. Facebook Page
9. Door to Door

Our competitive advantage is that our services are prompt, and incorporate automated technology that will greatly reduce time & error in both underwriting & claim operations.

Organization Structure

Corporate Social Responsibility

Objectives

• Promoting social value by providing insurance solutions to address the needs of our customers with respect to finance and health
• Spreading knowledge about insurance throughout society to encourage higher living standards
• Working to encourage the well-being of the ecosystem
• Engaging our shareholders to establish trust in FNI
• Maintaining transparency and establishing FNI as a safe place for our customers

Code of Conduct

Remarks made by Mr. Indren Stephen Naidoo, Chief Executive Officer

This Code of Conduct is a key tool for all our staff as it sets out the key set of behaviors that is expected from each of us in conducting our business on a daily basis. It is most important that each of us act and behave with utmost professionalism and respect as we interact with fellow staff, customers, partners and the general public.  As a financial institution, we are all expected to conduct ourselves in a manner that is expected and trusted by the public. All our actions and behavior must be held to the highest standards at all time. Therefore, this document is important for all our staff to learn and understand. Moreover, it is expected that the principles and standards of behavior contained herein, will be abided by and exhibited by all staff in our daily business activities.

Purpose

The purpose of the Code of Conduct is to establish a clear and consistent framework for ethical behavior, legal and compliance, and professional accountability across FNIG. This Code serves to:

• Promote a culture of integrity, accountability, professionalism and respect in all business activities.
• Ensure compliance with applicable laws, regulations, internal policies and industry standards governing the insurance sector.
• Protect the interests and reputation of FNIG and the public trust by reinforcing responsible and honest business practices.
• Prevent unethical conduct, conflicts of interest, and misuse of company assets or confidential information.
• To provide guidance for making ethical decisions and reporting concerns in a safe and respectful environment
• Encourage employees to report misconduct without fear of retaliation and to contribute to a safe, inclusive, and productive workplace.
• To contribute to a respectful, inclusive, and high-performing workplace and ensure the long-term success of FNIG.

1.  Compliance with Laws and Regulatory Obligations

All employees must follow applicable laws, regulations, and internal policies. This includes insurance-related laws, anti-money laundering laws and rules, data protection requirements, and any obligations set by local regulators. Ignorance of the law is not a defense. Employees should seek guidance from the Legal and Compliance Department when in doubt.

2.  Professionalism and Integrity

Professionalism

Employees are expected to carry out duties or responsibilities honestly, diligently and willingly in all interactions as may from time to time as assigned at all times. This includes being reliable, avoiding gossip or offensive language, respecting differences, and delivering services with accuracy and care. We expect high standards of personal and professional behavior at all times.

Employees are expected to maintain a professional and well-groomed appearance. Hair should not be dyed in colors that are excessively bright, unnatural, or otherwise noticeably different from generally accepted professional standards. Hairstyles and colors should reflect the decorum and image of the organization.

Integrity

It is imperative to show mutual respect to all customers, visitors, agents, and colleagues at all times. Employees must ensure that their conduct and behavior both at and outside work including at social media platforms do not damage the good name or reputation of FNIG.

3.  Ethical Business Practices

We, FNIG, are committed to conducting all business activities with the utmost integrity, transparency, and fairness. Every employee and representative are expected to uphold the highest ethical standards in every interaction – with customers, colleagues, partners, agents and regulators. We strictly prohibit fraud, misrepresentation, and any form of deceptive sales or marketing practices.

Anti-Corruption and Bribery

First National Insurance (General) Co., Ltd. has a strict zero-tolerance policy for bribery and corruption. Under any circumstances, employees must never offer, request, or accept bribes, facilitation payments or kickbacks. All gifts, entertainment or hospitality, must be modest, legal, and approved beforehand if required by policy. Employee must report any suspicion of bribery immediately to the Compliance Officer.

Our reputation depends on honest, responsible conduct, and we expect all team members to act in a manner that maintains and enhances the trust placed in us by our customers and the public.

Fraud Prevention

Fraud, such as embezzlement, money laundering, falsifying records, or misusing customer data, is strictly prohibited. Employees must conduct all transactions honestly and transparently, ensuring accurate and complete documentation at all times. FNIG is committed to investigating allegations thoroughly and taking appropriate disciplinary or legal actions to uphold integrity and protect our customers, stakeholders, and business interests.

Crime Prevention

Employees must not engage in any activities that violate the law, including but not limited to gambling within office premises or any other illegal behavior that may harm the company, its reputation, or its customers.

All suspicious activities must be reported through the designated whistleblowing or reporting channels without fear of retaliation.

Conflict of Interests

Employees must avoid personal or financial interests that conflict with their duties. Examples include favoring friends or family in insurance claims, holding investments that influence decisions, or working for competitors. Any potential or actual conflict must be disclosed immediately to Human Resources Department.

Gifts & Hospitality

Employees may offer or accept modest and appropriate hospitality—such as occasional meals, entertainment, or gifts—when it is customary in business relationships and does not influence or appear to influence decision-making. However, lavish, excessive, or frequently repeated hospitality involving the same individuals or organizations is inappropriate and must be avoided.

Gifts in the form of cash or cash equivalents, such as gift cards, vouchers, or monetary stipends, are strictly prohibited. Before offering any hospitality or item of value to government officials or their family members, prior written approval must be obtained.

All gifts and hospitality must comply with local laws, support a legitimate business purpose, be reasonable in value, and be clearly connected to the promotion of the company’s services or business objectives.

Transparency and Fair Dealing

We are committed to transparency in all business dealings. Employees must provide clear, truthful, and complete information to customers, regulators, and colleagues. Misleading advertising, misrepresentation of policy terms, or withholding relevant facts is strictly prohibited

Charitable Donations and Corporate Sponsorships

We are committed to supporting our community through philanthropic initiatives, charitable donations, and corporate sponsorships across all areas of our business. Prior to making any contribution, it is essential to confirm that such donations are not intended as, nor could be perceived as, payments to government officials in exchange for improper business advantages. All proposed contributions must receive a solid approval from the management before proceeding. Special care must be taken when a request for a contribution comes from a government official, ensuring full compliance with our policies and local laws.

Fairness in All Areas of Operation

FNIG is committed to fairness in every aspect of our operations, including decision-making, customer service, recruitment, performance evaluation, and business relationships.

All employees must act impartially, avoid favoritism, and ensure that opportunities, resources, and responsibilities are distributed equitably.

Decisions should be based on merit, facts, and transparent criteria. Unfair treatment, bias, or abuse of authority is unacceptable and may lead to disciplinary action.

4.  Confidentiality and Data Protection

It is a required behavior to give full respect to confidentiality of FNIG’s information and not disclose to any unauthorized or outside parties except with the permission of management team. It covers all confidential information, including personal information of customers and colleagues, policy terms, and internal documents. Confidential data must not be shared with unauthorized persons or used for personal gain.

5.  Protection and Proper Use of Company Assets

All employees are entrusted with the responsible use and protection of the company’s assets. These assets include physical property, financial resources, information systems, intellectual property, brand reputation, communication tools, and confidential information.

Everyone is expected to safeguard assets from loss, theft, damage, misuse, or waste, and to report any suspected abuse or irregularities immediately. Proper care and respect for company property help ensure our continued success and uphold the trust placed in us by our customers, partners, agents and stakeholders. Misuse, damage, or theft of company resources may lead to disciplinary action.

6.  People and Wellbeing

Equal Opportunity and Anti-Discrimination

We promote a diverse and inclusive workplace. Discrimination or harassment based on race, gender, religion, color, national or ethnic origin, marital status, sexual orientation, age, disability or any other characteristic protected by law is strongly prohibited. All employees should feel safe, valued, and respected.

As part of this promotion, it is ensured that personal relationships in the workplace do not give rise to a conflict of interests or other conduct issues.

We have a zero-tolerance policy towards any form of discrimination, harassment—including sexual harassment—bullying, or any other misconduct that creates a hostile or unsafe work environment. It is never tolerated to threaten, intimidate, or coerce subordinates or colleagues for any purpose. It also covers making false or malicious statement concerning an employee or spreading rumors to create discontent or demoralize other employee irrespective of any means.

If you encounter or witness any such behavior, you are strongly encouraged to report it to immediate supervisor or designated responsible persons at all time.

Health, Safety, and Well-being

Employees must follow all health and safety protocols to ensure a secure working environment. Accidents, unsafe conditions, or mental health concerns should be reported promptly so that the company can take appropriate action.

You are responsible for helping maintain a safe environment by avoiding any actions that could create or contribute to health or safety hazards while at work, on customer premises, during events, or when traveling on behalf of FNIG.

Maintaining Drug-free workplace

The use, possession, distribution, or selling of illegal drugs, controlled substances without a valid prescription, or misuse of alcohol while on company premises, at company-sponsored events, or during the course of conducting company business is strictly prohibited.

Violations of this prohibition may result in disciplinary action, up to and including termination of employment. We encourage employees who may be struggling with substance abuse to inform human resources department, and we maintain confidentiality and support for those who come forward in good faith.

Employees must report to human resources department if seeing any one taking intoxicated or consuming any form of liquor at workplace.

7.  Communication and Social Media

Employees are expected to communicate professionally, respectfully, and responsibly in all forms of interaction, whether in person, by phone, email, or online. When using social media, personal or professional, employees must ensure their conduct reflects the company’s values and does not disclose confidential information or harm the company’s reputation. Only authorized personnel may speak on behalf of the company in public or online forums.

Employees must treat colleagues with respect and professionalism both offline and online. Social media use should never involve harassment, discrimination, or inappropriate behavior. Using social media to harass, bully, discriminate against, or disrespect fellow employees is strictly prohibited. Examples include posting offensive comments, sharing inappropriate or unwelcome content, making derogatory remarks, or engaging in cyberbullying. Such behavior creates a hostile environment and undermines the company’s values.

8.  Disciplinary Action, Reporting Violations and Whistleblower Protection

Violations of this Code may lead to disciplinary actions, ranging from warnings and suspension to termination of employment. In cases of serious misconduct, the company may also pursue legal proceedings or involve law enforcement authorities as appropriate.

Employees are obligated to report any violations of this Code. Reports can be submitted to Human Resources Department, Legal & Compliance Team, or through confidential whistleblower channels. Reports should be made with honest intentions and include all relevant information. We strictly prohibit retaliation against individuals who, in good faith, report or raise concerns about violations of laws, regulations, policies, the Code, or other misconduct. Any adverse action taken in retaliation against an employee who has raised a question or concern in good faith may result in disciplinary action, including termination of employment.