Reinsurance companies in South and Southeast Asia (S/SEA) posted an improved combined ratio in 2021, although underwriting performance remains pressured with a continued reliance on investments to achieve bottom-line profitability, AM Best notes.
Insurance companies are barred from giving their CEOs any additional salary, allowances, bonuses, and benefits, beyond the limit stipulated by the law, says the insurance regulator.
The majority of listed non-life insurance companies in Bangladesh posted lower profits for the first half of 2022, with the decline attributed to a fall in marine insurance business, a bearish stock market, and economic slowdown in the country.
The Insurance Development and Regulatory Authority (IDRA) has found that two life insurance companies have allowed their directors and their associated enterprises to borrow from banks against fixed deposits placed with policyholders' funds.
The Bangladeshi government is set to hand out more insurance licences although many insurers established in the last 10 years have yet to gain traction in the industry.
The International Labour Organization (ILO)-developed Employment Injury Scheme (EIS) will now be available to garment workers in Bangladesh.
Bangladesh plans to reduce the country's carbon dioxide emissions by 6.73% by 2030 and it plans to do this by making use of indigenous financing and technological capabilities.
The estimated financial loss caused by the deadly fire on 4 June at a container depot in southeastern Bangladesh may exceed $110m, according to the Bangladesh Inland Container Depots Association (BICDA).
The Bangladesh Bank (BB), the central bank, has finalised bancassurance guidelines, setting out how the banks can participate in the distribution channel.
The securities regulator has asked the insurance regulator, the Insurance Development and Regulatory Authority (IDRA), to facilitate the listing of 26 insurers and their compliance with rules concerning investments in listed equities.