Bangladeshi Finance Minister AHM Mustafa Kamal has said that insurance would be made compulsory in phases for flats, residential buildings, corporate offices, commercial buildings and structures, crops and livestock.
Bangladeshi Finance Minister AHM Mustafa Kamal has said that 31 insurers have to obtain a public listing to comply with regulations.
A survey by Bangladesh Bank has revealed that low incomes, lack of access to offices and high cost of products are some of the major barriers to access to financial services in the country.
Earnings per share (EPS) of 25 listed non-life insurance companies in Bangladesh out of a total of 35 increased during the first six months of 2019 compared to the same period of the previous year.
With insurance penetration in Bangladesh among the lowest in the world at 0.7%, insurers are now tapping digital platforms to expand their reach across the country.
General insurance companies have decided not to pay agents commission rates exceeding 15% to comply with a regulatory notice issued in 2012.
Floating hospitals, run by a non-governmental organization (NGO) and equipped with medical facilities, paramedics and doctors, provide free treatment in the river islands (chars) of Bangladesh.
As Bangladesh works towards achieving universal health coverage and access to quality health care in accordance to UN's '2030 Agenda for Sustainable Development', the current government intends to introduce health insurance to the entire country and provide healthcare services for all.
The insurance sector's premium income growth hit an eight-year fastest rate last year thanks to heightened efforts by insurers to revive lapsed insurance policies.
Pathao, a ride-sharing app provider in Bangladesh has tied up with Pragati Life Insurance and Carnival Assure to provide free insurance services to its riders and drivers.