The finance ministry has appointed Md Shah Alam, additional secretary of the Financial Institutions Division (FID) as an observer to the troubled Sonali Life Insurance

Insurers shall not assist company directors, shareholders, their families or other related individuals in obtaining loans from financial institutions by using company assets as collateral, according to a draft amendment to Insurance Act 2010.

IDRA has sought cooperation from ministries and public entities to expand insurance coverage for citizens and properties to reduce the risks of damage and losses.

IDRA has instructed insurers to keep an equivalent ‍amount of paid-up capital as deposits at banks under the company’s name without liability

IDRA has relieved 12 of the 18 directors of Swadesh Islami Life Insurance Company over allegations of embezzling fixed deposit among others

The Insurance Development and Regulatory Authority (IDRA) has ordered four life insurance companies to not spend any amount from their income through premiums, investments and life funds unless they settle claims of policyholders by the end of December

IDRA has ordered Fareast Islami Life Insurance Company Limited not to spend anything from its premium income, income from investment and life fund if it fails to settle claims of policyholders by this month

The insurance regulator of Bangladesh has directed all life insurers to set up an actuarial department and appoint actuaries with a view to assessing and managing the risks of financial investments and insurance policies. 

The government has appointed former secretary Mohammad Jainul Bari as the new chairman of the Insurance Development & Regulatory Authority (IDRA), said the finance ministry in circular today.

Bangladesh's insurance sector has long been facing a skills gap at all levels because of a poor pay structure, uncomfortable work environment and a lack of relevant education and awareness, industry people said yesterday.