Page 5 - Insurance Development News Today

City Bank yesterday received approval from Bangladesh Bank to start bancassurance business with Guardian Life Insurance Ltd.

No other country has a specified minimum insurance rate, with the global rate ranging between 0.01% and 0.1%

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

Just 15 days past a regulatory audit being initiated against him, the chairperson of Sonali Life Insurance has informed that its board of directors had suspended its chief executive officer (CEO) yesterday over allegations of misappropriating funds.

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

The IDRA made the order after Aman in a letter to the IDRA said Sonali Life’s board had not allowed him to enter the company's office since January 1

The Insurance Development and Regulatory Authority (IDRA) has appointed an external auditor for Sonali Life Insurance, a listed insurance company in Bangladesh.

Every insurance company must have consumer protection and complaint settlement committees comprised of those on the board of directors, according to the draft insurance policyholder protection guidelines.

Standard Chartered has become the first multinational bank in Bangladesh to sign a bancassurance agreement with MetLife, enabling the bank to sell MetLife's insurance solutions to its retail customers.

Time and again, we have seen how company boards manipulate financial dealings for personal benefits, and Sikder Insurance investing most of its assets in the scandal-ridden National Bank Ltd (NBL) is just the latest example.