DHAKA, Sept 3, 2026 (BSS) - The Insurance Development and Regulatory Authority (IDRA) has taken a special initiative to expedite settlement of insurance claims and rebuild customers' confidence in the insurance sector.

As part of the initiative, cheques were handed over today to policyholders of seven life insurance companies at a programme held at the IDRA conference room.

According to IDRA data, a total of 94 cheques were distributed to settle insurance claims amounting to Tk 14,51,03,146.58 among 2,549 customers.

The cheques were handed over to policyholders of Bayra Life Insurance Company Limited, Fareast Islami Life Insurance Company Limited, Golden Life Insurance Company Limited, Homeland Life Insurance Company Limited, Padma Islami Life Insurance Company Limited, Progressive Life Insurance Company Limited and Sunflower Life Insurance Company Limited.

Of the total amount, Bayra Life paid Tk 4,51,826 to eight customers, Fareast Islami Life Tk 5,42,85,369 to 528 customers, Golden Life Tk 2,51,476 to four customers and Homeland Life Tk 10,66,191 to 15 customers.

Besides, Padma Islami Life paid Tk 1,94,94,853 to 624 customers, Progressive Life Tk 6,90,32,165.58 to 1,350 customers and Sunflower Life Tk 5,21,266 to 20 customers.

IDRA Chairman Mir Nadia Nivin said ensuring timely payment of legitimate claims of policyholders is one of the authority's key priorities.

"The speed and transparency of claim settlement need to be further enhanced to rebuild public confidence in the insurance sector," she said.

She said IDRA would take all necessary measures to protect the interests of policyholders.

IDRA believes that settling insurance claims will not only ensure the financial rights of policyholders but also help enhance public confidence in the insurance sector.