Non-life insurers saw a 13.68% growth in gross premium income from BDT26.69bn ($315.56m) in 2017 to BDT30.34bn in 2018. At the same time, their total assets increased from BDT79.77m in 2018 from BDT75.5m the previous year.
Non-life insurance companies must invest 7.5% of their assets in government securities, according to new regulations of the Bangladesh Insurance Development and Regulatory Authority (IDRA). Government securities include short-term and long-term securities such as treasury bills and treasury bonds.
Bangladesh presently generates about 3% of its total power requirement from coal, but it has plans to build 29 coal-based power plants in the next two decades, which will increase coal generated power to 35%.
Prime Minister of Bangladesh, Sheikh Hasina, has called on the industry to come together in a spirit of cooperation and understanding in order to mitigate the risks of millions of people in the region who face various climate related perils to their lives and property every year.
The 15th International Conference on Inclusive Insurance (or International Microinsurance Conference) will be held in Dhaka in November. The event will be hosted by the Bangladesh Insurance Association (BIA) in partnership with the Munich Re Foundation and assisted by the Micro Insurance Network.
Bangladesh telecom operator Banglalink has launched a digital healthcare service platform called 'Daktarbhai' that will provide comprehensive health-related solutions to its customers.
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.