Festive mood in BIA election after 14 years

After a long 14 years, the festive atmosphere has returned to the elections of the Insurance Owners' Association (BIA). The elections are scheduled to be held on February 22 this year.

Already, 35 candidates willing to participate in the elections have completed the collection and submission of nomination papers. Out of these, 14 are candidates for life insurance and 21 for non-life. A total of 20 executive members will be elected, 10 each in both sectors.

The BIA election is being welcomed by those involved in the sector. They said, after a long time, this election has created an opportunity for more qualified people to join the new committee of the BIA. This is very good for the country's insurance sector.

They believe that if qualified people come to the BIA, their new ideas will play an important role in the development of the insurance sector.

It is known that Sheikh Kabir Hossain had been holding the post of president of Bangladesh Insurance Association (BIA) since 2011. 82-year-old Sheikh Kabir Hossain is the cousin of Sheikh Mujibur Rahman. As such, he is the uncle of former Prime Minister Sheikh Hasina. He was also the president of Gopalganj District Association.

In these identities, he held top positions in various organizations in the country, including the Insurance Owners' Association (BIA). However, Sheikh Kabir Hossain resigned from the post of BIA president on October 21 after Sheikh Hasina fled in the face of student and public protests in August 2024 and the fall of the Awami League government.

The term of the current BIA Executive Committee (2023-2024) will end on April 8, 2025. However, after the resignation of the organization's President Sheikh Kabir Hossain citing health reasons, First Vice-President Nasir Uddin Ahmed (Pavel) was elected President for the remaining term. He assumed the responsibility at the 218th Executive Committee meeting of the organization on October 28.

The schedule for the election of BIA's executive committee members for 2025-2026 was announced on November 7, 2024. Nominations were collected and submitted from January 14 to January 21. After the member election on January 22, it was decided that the election of the organization's president, first vice president, and vice president would be held on February 24. It is reported that 76 of the organization's 80 members will exercise their voting rights this year.

The candidates for the 2025-2026 executive committee election among life insurance directors are Sandhani Life Chairman Mujibul Islam, Fareast Islamic Life Chairman Mohammad Fakhrul Islam, Bengal Islamic Life Vice Chairman Amin Helali, Progressive Life Vice Chairman Bazlur Rashid, Delta Life Director Adiba Rahman, Best Life Director Syed Badrul Alam, and NRB Islamic Life Director Arif Sikder.

Among the chief executive officers in this sector, nomination papers have been collected - Popular Life Insurance Chief Executive BM Yusuf Ali, Pragati Life Chief Executive Jalalul Azim, Zenith Islami Life Chief Executive SM Nuruzzaman, Chartered Life Chief Executive SM Ziaul Haque, National Life Insurance Chief Executive Md. Kazim Uddin, Trust Islami Life Chief Executive Mohammad Gias Uddin and Rupali Life Insurance Chief Executive Md. Golam Kibria.

Among the non-life insurance directors, candidates have been nominated - Agrani Insurance Chairman Kazi Shakhawat Hossain Lintu, City Insurance Chairman Hossain Akhtar, Crystal Insurance Chairman Abdullah Al Mahmud, Global Insurance Chairman Syed Ahmed, Prime Insurance Chairman Dr. Mohammad Shahadat Hossain; Prabhati Insurance Chairman Md. Mofizur Rahman, Continental Insurance Vice Chairman KM Alamgir, Federal Insurance Investment Committee Chairman Zainul Abedin Jamal, Bangladesh National Director Taif Bin Yusuf, Janata Insurance Director Belal Ahmed and Rupali Insurance Director Mustafa Kamrus Sobhan.

The nomination papers for the CEO position in this sector are collected by Asia Insurance CEO Imam Shaheen, Bangladesh General Insurance CEO Ahmed Saifuddin Chowdhury, Green Delta Insurance CEO Farzana Chowdhury, Bangladesh Cooperative Insurance CEO Md. Noor-e-Alam Siddiqui, Karnaphuli Insurance CEO ANM Fazlul Karim Munshi, Republic Insurance CEO Dr. AKM Sarwar Jahan Jamil, Islami Commercial Insurance CEO Kazi Mukarram Dastagir, Eastern Insurance CEO Hasan Tarek, South Asia Insurance CEO Mohammad Nurul Alam Chowdhury and Standard Insurance CEO Md. Abdul Matin Sarkar.

The interest among directors and CEOs to appoint qualified individuals to the new BIA committee for the development of the insurance sector is a very good thing. And that is why this election has created such a buzz.

This year's executive committee will be formed with the expectations of those involved in the insurance sector. They believe that the Insurance Owners' Association (BIA) will be a customer-friendly organization. BIA will work for the real welfare of the insurance sector by coming out of the tail-end of the industry.

According to them, the interest among directors and CEOs to appoint qualified individuals to the new BIA committee for the development of the insurance sector is a very good thing. And that is why this election has created such an atmosphere.

It would be good for the insurance sector if qualified individuals were appointed to the BIA. They would be able to bring innovation to the sector and play an important role in the development of insurance by incorporating new ideas, insurance sector stakeholders believe.