The organization’s member Fazlul Karim told that the approval was given at the meeting of the Board of Directors of IDRA on Thursday.
Nine life insurance companies and two general insurance companies are being allowed to run 11 new insurance companies.
Fazlul Karim said that approval of the registration of these 11 companies has been approved by the total 77 applications.
After approval of the board meeting, the approval of the company authority in the IDRA office in Motijheel has also started. all the organizations could not appear for approval on the first day.
Among the nine life insurance companies approved are Mercantile Islami Life Insurance Janet Islami Life Insurance, Best Life Insurance..
Sonali Life Insurance, Summit Life Insurance, Guardian Life Insurance NRB Global Life Insurance, Chartered Life Insurance and Protective Life Insurance Company Limited.
Meanwhile, Summit Life Insurance jointly owned by Japan and Bangladeshi entrepreneurs.
And approval general insurance companies are both Army welfare insurance and Sikder Insurance Company Limited.
On February 10, the government published the ‘Insurance Regulatory Regulation-2013-Gazette’ form.
After that applications for registration of new insurance companies were collected from February 20 to May 15.
In this period, the application of 71 life insurance companies and 6 general insurance companies to the new ID is submitted to the IDR.
After the verification the hearing was heard on 16 and 20 June.
DR chairman M Shefak Ahmed held a meeting with the finance minister to finalize the issue.
Currently, 61 insurance companies operate in the country, including private and private sector.
In this 42 life insurance corporations including 19 life insurance companies and general insurance corporations, 42 general insurance services.
Fazlul Karim told We expect the insurance sector to be improved by increasing competition in the market by introducing new insurance companies.