• Monday, May 16, 2022
  • Last Update : 04:24 pm

Getting listed with stock market

  • Published at 11:57 pm October 28th, 2019
IDRA
Logo of Insurance Development and Regulatory Authority Bangladesh Collected

IDRA asks non-listed insurers to submit plans by Nov 15

The Insurance Development and Regulatory Authority (IDRA) on Monday asked 27 insurers to submit their plans by November 15 on getting listed with the country’s stock exchanges as per the direction of the finance ministry. 

On September 15, Finance Minister AHM Mustafa Kamal asked non-listed insurance companies to be listed with the county’s stock exchanges by December this year.  

IDRA, the insurance regulator, gave the direction at a meeting with 27 non-listed insurance companies at its office in Dhaka.

“In line with the finance minister’s direction, today (Monday) we held a meeting with the non-listed insurance firms to learn about their progress in getting listed with the stock markets,” Gokul Chand Das, member, IDRA, told reporters after the meeting. 

“We have asked them to place their detailed roadmaps by November 15,” added Gokul.

After the submission of their work plans, IDRA would further hold meeting with the insurers, Gokul said.

“We hope by November about four companies — Sonali Life Insurance, Desh General Insurance, Crystal Insurance and Express insurance — will be able complete the formalities of getting listed with the stock exchanges,” he said.

According to IDRA, there are some 78 insurance companies in the country including 32 life insurance companies and 46 non-life insurance ones.

A total of 31 insurance companies are not yet listed with the stock exchanges. 

Of the life insurers, IDRA held meeting with Alpha Islami Life Insurance, Baira Life Insurance, Best Life Insurance, Chartered Life Insurance, Daimond Life Insurance, Golden Life Insurance, Guardian Life Insurance, Homeland Life Insurance, Jamuna Life Insurance, Jibon Bima Corporation, Meghna Life Insurance, Mercentile Life Insurance, NRB Global Life Insurance Co Ltd, Protective Islami Life Insurance, Sawdesh Life Insurance, Sonali Life Insurance, Sunflower Life Insurance, Trust Islami Life Insurance and Zenith Islami Life Insurance.

Of the non-life insurers, IDRA held meeting with Crystal Insurance Company Limited, Desh General Insurance Company Limited, Express Insurance Limited, Islami Commercial Insurance Company Limited, Sena Kalyan Insurance Company Limited, Sikder Insurance Company Limited, South Asia Insurance Company Limited and Union Insurance Company Limited.

The country’s insurance sector witnessed an overall investment of Tk369.35 billion in 2018 with a 3.20 per cent growth.

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