Insurance association president resigns for 'health reasons'

Sheikh Kabir Hossain resigned as president of the Bangladesh Insurance Association (BIA) on October 21, citing "physical illness."  

"At present, it is not possible for me to participate in all activities and perform the duties of the president of BIA as my physical condition is not improving," Hossain said in his resignation letter.   

"Therefore, I have resigned from the position of chairman and member of the association's executive committee," he added.  

According to the letter, a notification dated August 21, 2024, stated that due to health reasons, Hossain couldn't fulfil his responsibilities at the BIA. 

As per the rules of the association, First Vice-President Nasir Uddin Ahmed, or in his absence, Vice President AKM Monirul Hoque, was entrusted with the duties of the president until Hossain's health improved.  

Sheikh Kabir Hossain had been serving as president of the BIA, an organisation of insurance company owners and chief executive officers, for over a decade—exceeding the limits set by the association's regulations.  

According to BIA regulations, an individual may serve as president for three consecutive terms, but Hossain violated this rule, holding the position for seven consecutive terms from 2011 to 2024.  

Some insurance company owners claim that Hossain has forcefully retained the BIA president's position for the past 13 years, disregarding the rules. His seventh term is set to end in December.