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None can use CEO title in insurance firms without approval: IDRA

BSS
Published On: 06 Mar 2025, 23:28

DHAKA, March 6, 2025 (BSS) - Insurance Development and Regulatory Authority (IDRA) asked all insurance companies to use the chief executive officer (CEO) title after taking prior approval from the regulatory authority.

Moreover, the authority instructed that no one can be appointed as CEO on a current charge basis, nor can they use the title without its permission.

The insurance regulator issued a circular today outlining these directives.

As per the circular, until IDRA approves the appointment of a CEO, an additional managing director may be assigned the responsibilities of the CEO and carry the title "CEO (in-charge)."

The circular also states that no officer below the rank of CEO or CEO (in-charge) will have the authority to sign any official correspondence sent to IDRA.

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