The Insurance Development and Regulatory Authority (IDRA) is acting to enforce a requirement for all industries and factories to have group insurance, made mandatory under Bangladesh's labour law. The move follows recent tragedies in the industrial sector.
The Bangladeshi insurance regulator is working to introduce insurance products for bond issuers to protect against non-payment and to cover all associated benefits to bondholders in the event of issuer default.
Bancassurance is in the final stage of being introduced in Bangladesh, awaiting a government order allowing this distribution of channel.
Subscriptions for shares in the IPO of Sonali Life Insurance began yesterday, with the insurer intending to raise BDT190m ($2.2m).
The Insurance Development and Regulatory Authority (IDRA) is making a move to find appropriate insurance products to protect the interests of bond investors and cover the risks associated with fixed-income financial instruments approved by the securities regulator.
The Bangladesh Insurance Association (BIA) has demanded the withdrawal of a 15% value-added tax (VAT) on reinsurance commissions in the 2021-22 fiscal Budget.
The Bangladesh Securities and Exchange Commission (BSEC) has directed stock market-related firms, including market intermediaries, stock exchanges and listed companies, to provide their employees with health and life insurance.
The Insurance Development and Regulatory Authority (IDRA) has granted a licence to NRB Islamic Life Insurance Company which is as the first non-resident Bangladeshi (NRB) insurer in the country.
The Insurance Development and Regulatory Authority of Bangladesh (IDRA) has introduced a digital e-receipt system and banned the issuance of handwritten or printed paper receipts by insurance companies for premiums collected from policyholders.
An analysis of the financial reports of insurance companies in Bangladesh over the previous five years shows that an average, half of all insurance policies purchased in a year lapsed after the payment of the first-year premium.