About a dozen local privately held insurance companies out of a total 46 have been unable to pay reinsurance premiums worth over $100m to foreign reinsurers due to a lack of foreign currencies.
The country's insurance sector is undertaking a digital transformation, with the Insurance Development and Regulatory Authority (IDRA) planning to bring all private companies under one umbrella through automation or InsurTech.
The Insurance Development and Regulatory Authority (IDRA) has indicated that insurers will have to use new mortality and morbidity tables next year.
The Insurance Development and Regulatory Authority (IDRA) in Bangladesh is working with the government to identify and resolve problems in the insurance sector, the chairman of the regulatory agency, Mr Mohammad Jainul Bari, has said.
A comparison of the health impacts of climate change across countries points to a future that intensifies current inequalities: among G20 countries - which account for the majority of cumulative CO2 emissions -- a third will experience additional death rates because of climate change.
The Insurance Development and Regulatory Authority (IDRA) has proposed that commercial banks be allowed to tie up with four insurance companies at a time in bancassurance operations that are to be commenced soon.
The Insurance Development and Regulatory Authority (IDRA), the sole regulatory body for insurance companies in Bangladesh, has identified nine issues in the country's non-life insurance sector.
Over half of the life insurance companies in Bangladesh exceeded their management expense ceiling in 2021, affecting life funds adversely and eroding their capacity to settle claims.
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.