The Insurance Development and Regulatory Authority (IDRA) has fined Eastern Insurance Company Tk 5 lakh for not having the minimum investment required in government securities as per the Insurance Act 2010.
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Sonali Life Insurance Company’s former chairman Mostafa Golam Quddus and his six family member directors have embezzled at least Tk 187.84 crore from the company, an audit has found.
Insurance Policy Discontinuation Bangladesh: More than 26 lakh insurance policies have lapsed in Bangladesh in the last 14 years owing to a raft of factors including the worsening of financial health of clients, a lack of awareness among them, and agents’ tendency not to explain product features properly while selling them.