STATE-RUN Myanma Insurance paid out millions of kyats and FEC700 in compensation on August 10 for seamen’s life insurance, comprehensive motor insurance and travel insurance.

The company paid out K5 million to each of the families of eight seamen who died while working on ocean-going vessels.

Meanwhile, K20 million was paid out to Ayeyar Shwe War Company as the result of an accident that damaged one of the company’s vehicles on the Yangon-Mandalay road. The families of two men who died in the accident each received K300,000 in comprehensive motor insurance compensation and K100,000 in life insurance compensation.

Other companies that received comprehensive motor insurance compensation included Oriental Leasing Company (more than K2 million), Shwe Yamone Company (more than K600,000) and Swiss Aid Foundation (FEC700).

Also, K1 million in travel insurance was paid to the each of the families of eight people who died in an accident on March 27 while travelling in Tetkalay village in Bago Division.

U Kyi Win, U Chan Myae Thu and Ma San Thida, who were injured in the accident, also received travel insurance compensation in the amounts of K380,000, K240,000 and K170,000 respectively.

Myanmar Insurance has paid out more than K100 million for injury and life insurance so far in the current financial year, which began April 1.