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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Bangladesh non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Bangladesh's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Bangladeshi non-life (P&C) market as well as trends by line of business. Axco analysts also report on Bangladesh's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Bangladeshi insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Bangladesh, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Bangladesh, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Bangladesh with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
In 2017 non-life gross premiums were BDT 29.81bn (USD 370.65mn), which represented an increase of 7.92% over the previous year. In that year, however, inflation was 5.7% meaning that, in real terms, growth was more modest. PA and healthcare are written by both life and non-life insurers, but separate figures are not available. There is little new business coming into the market and penetration remains very low, at just 0.14% in 2017.
The impact of the pandemic on the insurance market was not ....
This is a brief extract of information; more updated information may be available in the latest published report.