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Few people in Bangladesh use insurance schemes to safeguard against potential financial concerns as most prefer to keep their rainy-day funds in banks and bonds, according to a recent study.
The survey report underscores that people tend to prioritise bank deposits, bonds, and other investments over insurance to address their financial worries
Eastern Bank has obtained a bancassurance licence from the Insurance Development & Regulatory Authority (IDRA) to start bancassurance business with insurance companies.
Bancassurance will open a new horizon for the insurance industry in Bangladesh as the collaborative arrangement will help insurers expand their coverage at low cost, according to industry people.
The insurance regulator has asked Sonali Life Insurance to explain why the board of directors of the company should not be suspended after failing to provide necessary information to an audit firm appointed by the regulator.