IDRA Chief stresses risk-based supervision for insurance sector growth

The newly appointed Chairman of the Insurance Development and Regulatory Authority (IDRA), Mir Nadia Nivin, has stressed the need to transform Bangladesh’s insurance sector from a compliance-based supervisory framework to a more effective risk-based supervision system.

Speaking at an introductory meeting with officials and employees at the IDRA headquarters after assuming office, she said such a transition is essential to build a stronger, more sustainable and resilient insurance industry.

She underscored that improving claim settlement capacity, ensuring good governance, and strengthening regulatory effectiveness will be key priorities for the authority going forward.

The Chairman further noted that a clear long-term vision and coordinated efforts among all stakeholders are crucial for the sustainable development of the sector.