First National Insurance
First National Insurance (General) is a Myanmar-licensed general insurer offering 15 product lines — motor, fire, marine, health, travel, and specialty coverage — to individuals, SMBs, corporates, and government entities via 16 nationwide offices and a trained agent network.
- Company typePrivate
- Founded2013
- HeadquartersYangon, Myanmar (Burma)
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What First National Insurance does
First National Insurance (General) Co., Ltd (FNIG) is a privately held, Myanmar-domiciled general insurance company licensed by the Insurance Business Regulatory Board (IBRB) under the Ministry of Planning and Finance, holding integrated insurance license No. 007 (since June 14, 2013) and general insurance license No. 003 (since April 1, 2019). The company underwrites 15 general insurance product lines spanning Fire & Allied Perils, Motor Vehicle, Cash In Safe, Cash In Transit, Fidelity, Inland and Overseas Marine Cargo, Marine Hull, Highway Express Travel, Travel, Personal Accident, Parcel, Health, Critical Illness, and Micro Health Insurance, with policies accepted in both Myanmar Kyat and US dollars. It serves individual consumers, SMBs and corporates, government and banking clients, and transportation operators through a nationwide distribution network of one headquarters in Yangon, three Yangon branches, and thirteen regional offices across Myanmar, supplemented by trained insurance agents produced through agent training schools in Yangon and Mandalay and mobile teams serving townships.
The underlying technology is a conventional insurance administration platform rather than an AI-native stack: a web-based online proposal system (fniproposal.com), product-specific premium calculators for each line, and automated processing tools supporting underwriting and claim operations, backed by a 24-hour claims hotline and professional surveyors/adjusters. FNIG was the first insurer in Myanmar to receive ISO 9001:2015 quality management certification from Guardian Independent Certification (Myanmar). The company is led by Group CEO Mr. Indren Stephen Naidoo, Deputy Managing Director U Aung Ko Ko Tint Win, and Head of Agency Daw Zar Kyi Thar, with reported company capital of 40.925 billion kyats and a stated professional headcount of nearly 340. Pricing is unit-based and varies by line — for example, fire insurance starts at 0.20% of building value, motor ranges 1.072%-1.734% of vehicle value, travel is 100-500 MMK per unit, and micro health ranges 5,000-13,000 MMK — reflecting a high-volume, small-ticket model with annual and semi-annual billing cadences.
Revenue is generated exclusively through insurance premiums and ancillary general insurance services within Myanmar, with no external funding rounds, no M&A activity, and no disclosed investor base identified. The go-to-market blends direct sales (branch offices, mobile teams, call centre), channel partners (trained insurance agents), and digital touchpoints (website, online proposal portal, Facebook page, call centre, 24-hour claim hotline). Recent strategic emphasis has shifted toward product and channel innovation, exemplified by mid-2024 partnerships with MGL Express for Parcel Insurance and with MOMONEY for digital service delivery, alongside continued geographic buildout across Myanmar's regions and states.
First National Insurance firmographics
Firmographics- Name
- First National Insurance
- Legal name
- First National Insurance (General) Co.,Ltd
- Website
- https://fnigeneral.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- First National Insurance (General) is a Myanmar-licensed general insurer offering 15 product lines — motor, fire, marine, health, travel, and specialty coverage — to individuals, SMBs, corporates, and government entities via 16 nationwide offices and a trained agent network.
- Ownership category
- akta.pro rank
First National Insurance industry classification
Industry- Product category
- General Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Mid-Market Commercial Package (Package Policies) (FSAJAFAB)
- akta.pro secondary industry
- General Liability Insurance (FSAJAMAE)
Keywords
Where First National Insurance is headquartered
LocationHeadquarters
- HQ city
- Yangon
- HQ country
- Myanmar (Burma)
- HQ region
- Asia
Offices17 records
Markets served
First National Insurance business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Insurance Premiums: Revenue generated from 15 types of general insurance products including motor, fire, marine, travel, health, personal accident, and other insurance policies. Services offered in both Myanmar MMK and US dollars.
- General Insurance Services: General insurance business providing protection for assets, properties, vehicles, cargo, health, and lives to customers across Myanmar
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Annual | Fire Insurance - Building and Property coverage |
| Unit Pricing | Annual | Motor Vehicle Insurance - Private and Commercial vehicles |
| Unit Pricing | Annual | Motor Insurance - Coverage types |
| Unit Pricing | Pay-as-you-go | Travel Insurance - Domestic and Overseas coverage |
| Unit Pricing | Pay-as-you-go | Highway Express Special Travel Insurance |
| Unit Pricing | Annual | Marine Hull Insurance - Vessel coverage |
| Unit Pricing | Pay-as-you-go | Overseas Marine Cargo Insurance |
| Unit Pricing | Pay-as-you-go | Inland Marine Cargo Insurance |
| Unit Pricing | Semi-Annual | Critical Illness Insurance - Group and Individual |
| Unit Pricing | Annual | Micro Health Insurance - Mass market coverage |
| Unit Pricing | Annual | Cash In Transit Insurance |
| Unit Pricing | Annual | Cash In Safe Insurance |
| Unit Pricing | Annual | Fidelity Insurance - Employee dishonesty coverage |
| Unit Pricing | Annual | Personal Accident Insurance |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
First National Insurance product offering
Product offeringCore offering
First National Insurance (General) Co., Ltd underwrites and distributes a portfolio of 15 general insurance products covering motor, fire, marine cargo, travel, health, personal accident, critical illness, fidelity, cash-in-safe, cash-in-transit, and parcel exposures. The company sells these policies to individual consumers and commercial clients through 16 branch offices, a tied agency force, and online quote tools, and delivers a 24-hour claim service nationwide.
Product overview
First National Insurance (FNI) offers a comprehensive portfolio of 15 general insurance products in Myanmar. The product lineup includes property insurance (Fire & Allied Perils), motor vehicle coverage, cash security products (Cash In Safe and Cash In Transit), fidelity coverage, marine cargo and hull insurance for both inland and overseas transit, travel insurance variants (standard and highway express), personal accident coverage, health insurance options (standard, critical illness, and micro health), and parcel insurance. The company operates through an agency distribution network and provides online premium calculators, with 24-hour claims handling services.
Differentiator
Problem solved
Functional benefit
Products and services
- Motor Insurance Covers private and commercial motor vehicles against damage and third-party liability, available to individual vehicle owners and commercial fleet operators.
- Fire Insurance Protects residential and commercial properties against fire and allied perils, available to homeowners and business property owners.
- Marine Cargo Insurance Covers loss or damage to goods in transit by sea, air, or land, targeted at importers, exporters, and commercial shippers.
- Travel Insurance Provides per-trip and per-day coverage for domestic and international travelers against travel-related risks, available to individual consumers.
- Personal Accident Insurance Provides accidental death, disability, and medical benefits to individual policyholders following accidental injury.
- Health Insurance Provides medical and hospitalization coverage to individuals and groups, including a micro health product for lower-income consumers.
- Critical Illness Insurance Pays a lump-sum benefit upon diagnosis of specified critical illnesses, available to individual consumers seeking protection against major health events.
- Fidelity Guarantee Insurance Protects businesses against financial loss caused by dishonest acts of employees, targeted at employers and corporate clients.
- Cash-in-Safe Insurance Covers loss of cash held on business premises, targeted at retail and commercial businesses.
- Cash-in-Transit Insurance Covers loss of cash while being transported between locations, targeted at businesses handling cash movements.
- Parcel Insurance Covers loss or damage to parcels in transit, available to senders, e-commerce sellers, and logistics users.
- Micro Health Insurance An affordable health insurance variant designed for lower-income individual consumers seeking basic medical protection.
Quantifiable outcome
- 24-hour claims services available
- +1 more outcomes
Companies that use First National Insurance
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles3 records
First National Insurance technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
First National Insurance partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered key partnership.
- MO Myanmar / MOMONEYkey partnershipPartnership Agreement signing ceremony to provide better services to FNIG customers through MOMONEY platform.
- MGL Expresskey partnershipMOU signing for Parcel Insurance partnership - FNI (General) and MGL Express collaborated to provide Myanmar's first and exclusive Parcel Insurance through MGL Express delivery services.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
First National Insurance competitors and assessment
Company assessmentBroad incumbents
- Manulife Myanmar: Global insurance and financial services group operating in Myanmar primarily in life and health insurance. International incumbent with broader product mix and capital backing, competing for overlapping health and personal accident segments.
- Tokio Marine Insurance Myanmar: International insurance group operating in Myanmar offering broader commercial and specialty lines including marine, fire, and liability. Larger, globally diversified incumbent competing for the same commercial accounts with deeper capital and reinsurance capacity.
- Prudential Myanmar: International insurer with Myanmar operations offering life, health, and general insurance products. Larger, globally diversified incumbent with strong brand recognition and broader product portfolio including life insurance, competing for similar consumer segments.
- AXA Myanmar: International insurance group with Myanmar operations offering general insurance products. Globally diversified incumbent with stronger reinsurance arrangements and technology platforms, competing for commercial and consumer insurance customers in Myanmar.
Direct peers
- IKBZ Insurance: Myanmar general insurance company offering motor, fire, marine cargo, and personal lines with nationwide branches. Comparable in scale and product breadth to FNI, serving similar SME and consumer segments.
- KBZ MS General Insurance: Myanmar general insurer affiliated with KBZ Group offering motor, fire, marine, and personal insurance with extensive banking distribution. Competes with FNI across multiple lines with strong bank-assurance channels.
- Myanma Insurance: State-owned national insurance company of Myanmar providing general insurance products including motor, fire, marine, and personal lines. Most direct competitor operating in the same regulatory and economic environment as FNI.
- Sri Ayu Insurance: Myanmar-based general insurer offering motor, property, marine, and personal accident coverage. Operates in the same regulatory framework and customer segments as FNI, competing for the same SME and consumer premium pool.
- AYA Myanmar Insurance: One of Myanmar's largest private general insurers offering motor, fire, marine, health, and personal accident coverage with nationwide branches. Directly competes with FNI in the same product segments and customer base.
- Grand Guardian Insurance: Myanmar general insurance carrier providing motor, fire, marine, and travel products. Direct competitor in the same Myanmar market with comparable product portfolio and customer segments.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
First National Insurance social profiles
Digital presenceFirst National Insurance compliance and trust
Trust signalCompliance1 record
First National Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
First National Insurance leadership team
Management profileNumber of profiles
Profiles3 records
First National Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First National Insurance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First National Insurance
What does First National Insurance do?
First National Insurance (General) Co., Ltd underwrites and distributes a portfolio of 15 general insurance products covering motor, fire, marine cargo, travel, health, personal accident, critical illness, fidelity, cash-in-safe, cash-in-transit, and parcel exposures. The company sells these policies to individual consumers and commercial clients through 16 branch offices, a tied agency force, and online quote tools, and delivers a 24-hour claim service nationwide.
Is First National Insurance a public or private company?
First National Insurance is a private company. It is classified as unknown and is currently operating.
When was First National Insurance founded?
First National Insurance was founded in 2013. It employs 51 to 100 people.
Where is First National Insurance based?
First National Insurance is headquartered in Yangon, Myanmar (Burma), in the Asia region.
How does First National Insurance make money?
Two revenue lines are on record. Insurance Premiums are the primary driver. The others are general Insurance Services.
Who are First National Insurance's main competitors?
Broad incumbents on record are Manulife Myanmar, Tokio Marine Insurance Myanmar, Prudential Myanmar and AXA Myanmar. Direct peers are IKBZ Insurance, KBZ MS General Insurance, Myanma Insurance, Sri Ayu Insurance, AYA Myanmar Insurance and Grand Guardian Insurance.
Does First National Insurance have an API?
No public API is recorded for First National Insurance.
What industry is First National Insurance in?
First National Insurance's product category is General Insurance. Its primary akta.pro industry code is FSAJAFAB, Mid-Market Commercial Package (Package Policies), with a secondary code of FSAJAMAE, General Liability Insurance. Its NAICS code is 524126 and its SIC code is 6331.