Dhaka, Bangladesh – Foreign companies are increasingly eyeing Bangladesh’s insurance sector, recognizing its potential for growth, according to BNP Standing Committee member Amir Khasru Mahmud Chowdhury.
Speaking at the Annual Business Conference of People Insurance Company Limited on Saturday at the University of Information Technology & Sciences (UITS), Chowdhury emphasized that the service sector, which includes insurance, is playing a significant role globally. He noted that many international organizations have expressed interest in investing in the country’s insurance market.
“They are closely observing the sector to gauge its future trajectory,” said Chowdhury, who also served as the former Minister of Commerce. To attract global investors, local companies must demonstrate competence in areas such as balance sheets, management practices, technology deployment, and branding, he added.
Chowdhury, who is also a former chairman of People Insurance Company, stressed the importance of measuring annual asset growth in insurance companies, as it directly impacts the interests of stakeholders and the stock market.
Sustainable Management and Innovation in Insurance
He further highlighted the need for sustainable management in the insurance sector, particularly as disruptive innovations continue to reshape the industry. Chowdhury emphasized that effective management is key to ensuring long-term success and attracting foreign investment.
Sufi Mohammed Mizanur Rahman, another former chairman and prominent industrialist, also spoke at the event, stressing the importance of selflessness and dedication in business. “When you work for others, it will yield positive results,” he said. Rahman shared insights on how the PHP Group, which he founded, became one of the country’s leading conglomerates through hard work, transparency, and philanthropy.
He also pointed out that UITS, part of the PHP Group, provides free education to around 40% of its student body, further reflecting the group’s commitment to social responsibility.
The conference also saw the participation of Adviser M H Khaled, Managing Director and CEO S M Azizul Hossain, as well as other directors and officials from People Insurance Company.
The growing interest in Bangladesh’s insurance sector highlights its potential as an emerging market, attracting both local and international attention.
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