Bangladesh insurance regulator devises bond coverage
Published 28 Aug,2021 via The Financial Express - The regulator is aggressively working to introduce insurance products for bond issuers that will guarantee repayment of the principal and all associated benefits to the bondholders in the event of issuer default.
Officials said the Insurance Development and Regulatory Authority or IDRA, the regulator of 81 life and non-life firms in insurance sector, took the move for insurance coverage of the fixed-income instruments on the capital market.
It has already formed a 10-member high-powered committee headed by general manager of the state-owned non-life insurer, Sadharan Bima Corporation (SBC), Mr. Bibekananda Saha.
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The Financial Express