Insurance premium collection up 17pc

Business Report :
Premiums collected by the insurance sector in 2022 rose nearly 17 per cent year-on-year in spite of business facing challenges amid the pandemic and Russia-Ukraine war.
Insurance premium is the amount of money an individual or business pays for an insurance policy. The growth was 16.81 per cent to be exact, with the total reaching Tk 16,812 crore, according to data from the Insurance Development and Regulatory Authority (IDRA).
Of the amount, life insurance drew Tk 11,399 crore and non-life the rest.
Despite many problems in the insurance sector, the premium income is increasing every year, said Mohammad Jainul Bari, chairman of the IDRA.