Delta Life fined Tk 20 lakh for breaching rules

Delta Life Insurance Company Limited has been fined Tk 20 lakh for violating insurance regulations for the 2015-2017 period.

On January 25, the Insurance Development and Regulatory Authority (IDRA) imposed the penalty after a hearing on the findings of a special audit into the insurer.

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At the hearing, nine audit objections were proved to be true and the insurer was fined, according to a letter of the regulator sent to Delta Life on February 12.

The regulator has asked the company to deposit the fine within 15 days.