The government has published a gazette retaining the registration renewal fee for insurance companies at Tk 1 per thousand for the year 2026. The gazette was published on Sunday (July 19) by the Insurance Branch of the Financial Institutions Division (FID) under the Ministry of Finance.
According to the notification, the number and comma "2026," mentioned in column (2) against serial number 1 of the table in sub-rule (2) of Rule 3 of the Insurance Business Registration Fee Rules, have been omitted.
As a result, insurance companies will have to pay a fee of Tk 1 per thousand against the gross premium earned in 2024 to renew their registration for the year 2026.
Earlier, on February 4 this year, the Financial Institutions Division of the Ministry of Finance issued a controversial gazette hiking the registration renewal fee by 2.5 times—from Tk 1.00 to Tk 2.50 per thousand.
However, private life and non-life insurance companies had been opposing this fee hike slated for 2026.
The companies argued that due to this unusual hike, the renewal fee for a company with a gross premium of Tk 100 crore would jump from Tk 10 lakh to Tk 25 lakh.
The Bangladesh Insurance Association (BIA) demanded an immediate waiver of this increased fee, calling it a heavy financial burden on the sector.
Ignoring the demands of the insurance owners, the Financial Institutions Division issued an order on June 23 directing all insurance companies to pay the 2026 registration renewal fee at the rate of Tk 2.50 per thousand of gross premium.
Later, considering the demands of the insurance companies, the regulatory body IDRA requested the FID to reconsider the directive and issue an order fixing the registration renewal fee for 2026 at Tk 1 per thousand.
