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Claim settlement in the insurance sector in Bangladesh stood at 67 percent in 2022, highlighting bad investments and non-compliance that prevented insurers from attaining a higher ratio, data from the regulator showed.
A number of life insurance companies in Bangladesh struggled to settle claims in 2022 due to a lack of liquidity resulting from bad investments and fund embezzlement by their chairmen and directors.
A number of life insurance companies in Bangladesh struggled to settle claims in 2022 due to a lack of liquidity resulting from bad investments and fund embezzlement by their chairmen and directors.
The vehicle insurance business in Bangladesh is passing hard times as people are not interested in insuring automobiles in the absence of legal obligation as well as a lack of trust in insurers and promotional activities.
More than 37,000 clients of Homeland Life Insurance Company Ltd are facing uncertainty about whether they would get back their insured amount owing to a lack of liquidity at the insurer caused by alleged irregularities, the regulator found.