DHAKA: Bangladesh insurance industry executives fear premiums might drop by 15% to 20% due to the ongoing political turmoil in the country, says Business Insurance quoting The Financial Express.

Sheikh Kabir Hossain, president of the Bangladesh Insurance Association, said on Saturday that many insurers are likely to face major financial problems.

PK Roy, managing director at Rupali Insurance Co. Ltd., said “The decrease in trade activities is affecting the industry as the volume of marine insurance has dropped.”

Imam Shaheen, additional managing director at Phoenix Insurance Ltd. said the cost of reinsurance will increase due to present political turmoil in the country.

Source: businessinsurance.com

BDST: 2025 HRS, DEC 09, 2013