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The Parliament of Bangladesh on 3 March 2010 has passed two insurance laws in a bid to further strengthen the regulatory framework for the insurance industry. The new laws came into effect on 18 March 2010, are the Insurance Act 2010 and IDRA Act 2010. A total of 81 insurance companies have been operating in the country.
Thereafter, SBC was acting as the sole insurer of general insurance till 1984. In the year 1984 Bangladesh Government allowed insurance companies in the private sector and to that effect promulgated the Insurance Corporations (Amendment) Ordinance 1984. Sayed Bealal Hossain is the Managing Director of Sadharan Bima Corporation. [2]
1.Sonali life insurance company ltd. 2.Metlife Insurance Company Ltd 3. National Life Insurance Company Ltd. 4. NRB Islamic Life Insurance Company Ltd. 5. Chartered Life Insurance Company Ltd. 6. Alpha Islami Life Insurance Company Ltd. 7. Astha Life Insurance company Ltd. (Army Welfare Trust) 8. Meghna Life Insurance Company Ltd. 9.
Semi-formal sector; Informal sector; The sectors have been categorized in accordance with their degree of regulation. The formal sector includes all regulated institutions like banks, non-bank financial institutions (FIs), insurance companies, capital market Intermediaries like brokerage houses, merchant banks etc.; micro finance institutions ...
Notable companies Status: P=Private, S=State; A=Active, D=Defunct; Name Industry Sector Headquarters Founded Notes Status A K Khan & Company: Conglomerates - Chittagong: 1945 Textiles, logistics, water, financial services, telecoms, agriculture P A Aarong: Consumer goods Personal & household goods Dhaka: 1978 General retail P A Abul Khair Group
Jiban Bima Corporation (JBC) is the state-run life insurance corporation in Bangladesh under the provisions of the Insurance Act 1938, Insurance Rules 1958, and related other laws enforceable in Bangladesh in Bangladesh Corporation Act 1973. The JBC started on 14 May 1973 with assets and liabilities worth TK.
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The management of the academy is vested in a board formed by the government. The academy also provides tailor-made insurance training for the insurance operators in Bangladesh. Additionally it organizes customized training sessions, seminars, symposiums and conferences on issues relating to the insurance sector of Bangladesh. [1]