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International

Dollar shortage forces insurers to halt reinsurance payments

February 13, 2023 Reprints

A major dollar crisis in Bangladesh has forced local insurers to halt premium payments worth over $50 million to foreign reinsurers over the past five months, leaving the insurance industry worried about the future, The Business Standard reported. If local insurers are unable to make the payments eventually, overseas reinsurers may cancel existing contracts, leaving the country’s mega-projects and multiple properties uninsured.

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Dollar shortage forces insurers to halt reinsurance payments

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