All but Bangladesh Co-operative Insurance have already paid the fines

Eighteen non-life insurance companies spent more in 2022 on management expenses than allowed, leaving a negative impact on their overall business and eroding their capacity to settle claims.

Non-life insurance companies in Bangladesh will be able to collect premiums through mobile financial service (MFS) providers as the Insurance Development and Regulatory Authority (Idra) looks to facilitate the use of modern technologies in the industry.