New legislation may permit foreigners to invest in insurance sector

When the BNP coalition government came to power in October 2001 it declared its intention to carry out a programme of privatisation, but it has since decided not to pursue any more sales of state assets until after the general election in 2006

A part from the state-owned Saharan Bima Corporation (SBC), there are 43 private non-life insurers registered to do business in Bangladesh. Foreign companies are not permitted to operate. In the life sector, American Life is a notable exception. The company has had a branch in the local market since 1952.