The Insurance Development and Regulatory Authority (IDRA) has directed all insurers to comply with rules that require their sponsors to raise the stakes they hold to 60% in their respective companies and the companies' minimum paid-up capital to BDT300m-400m ($3.5m-4.7m) within one month.
The Bangladeshi government is undertaking a BDT6bn ($70.75m) project to ensure faster upgrading and digitalisation of the insurance sector, Mr M Mosharraf Hossain, chairman of the Insurance Development and Regulatory Authority (IDRA), has said.
Bangladesh's insurance regulator will release guidelines this year to allow insurance to be marketed through bank channels, according to industry insiders.
The Insurance Development and Regulatory Authority (IDRA) has plans to issue final guidelines next year covering bancassurance and paving the way for expanding the insurance market through banking channels.
Most of the listed general insurance companies in Bangladesh have reported higher net profit between July and September, from a year earlier on the back of increased premium income.
Green Delta, a private non-life player in Bangladesh was honoured this week with the New Champions award for 'excellence in sustainability' at the World Economic Forum's (WEF) Pioneers of Change summit 2020.
Bangladesh's households bear some 93% of the total cost of illness for senior citizens as out-of-pocket payment, the highest in South Asia, a new study finds.
The Bangladeshi government is losing revenue of BDT10bn ($118m) a year because of under-reporting by insurers of their financial performance, according to the new chairman of the Insurance Development and Regulatory Authority (IDRA).
India has launched first of its kind flash flood guidance services for India and other South Asian countries - Bangladesh, Bhutan, Nepal and Sri Lanka - to issue impact-based forecasting at the watershed and also city level, of floods which are very sudden and of short duration.
Bangladesh Road Transport Authority (BRTA) has that no case could be filed against any motor vehicle or vehicle owner for not having third-party liability insurance.