AIA gets approval to open representative office in Myanmar

HONG KONG (REUTERS) - Asia's No. 3 insurer, AIA Group Ltd, said on Wednesday that it has received provisional approval to open a representative office in Myanmar.

Chief Executive Mark Tucker told reporters on a conference call after its earnings on Wednesday that it planned to open the office later this year.

Foreign companies would not be allowed to conduct business in Myanmar until around 2015, Mr Tucker said, adding that he does not expect Myanmar operations to become material for at least 5 to 10 years.