Zenith Islami Life Insurance plans to raise BDT150m ($1.28m) through an initial public offering (IPO) to comply with regulatory requirements and expand its business.
A new company has applied for a life insurance licence in the Bangladeshi market where there are already 36 life insurers, several of which are loss-making.
The Insurance Development and Regulatory Authority (IDRA) has issued the "Insurance Claims Management Guideline, 2024", which is posted on the agency's website.
The Insurance Development and Regulatory Authority (IDRA) plans to amend the Insurance Act 2020 as a part of its efforts to develop the insurance sector, improve governance, and protect the interests of policyholders.
The Bangladeshi Cabinet has approved a draft law that would make insurance compulsory for all registered vehicle owners.
The insurance sector in Bangladesh faces significant challenges in extending coverage to the vast rural population, with only a small fraction currently insured.
The Kidney Awareness Monitoring and Prevention Society (KAMPS) has called for the introduction of specialised health insurance for kidney patients.
The claims settlement ratio of life insurance companies increased by 5.03ppt to 72% in 2023 from 66.97% in 2022, according to Insurance Development and Regulatory Authority (IDRA) chairman Mohammad Jainul Bari.
Bangladesh is lagging in providing insurance education because of a reluctance among students to pursue insurance studies, educators say.
The Insurance Development and Regulatory Authority (IDRA) is seeking cooperation from ministries and public entities to expand insurance coverage.