Dhaka, Jan. 2 -- The insurance sector regulator has amended rules to ease the appointment of chiefs to insurance companies, as the earlier eligibility criteria were tough to meet.

Insurance company representatives have welcomed the amendment to the Insurance Company (Chief Executive Officer Appointment and Removal) Regulations, 2012.

The revised rules are intended to simplify the CEO appointment process, widen the pool of eligible candidates, and ensure the placement of qualified and competent professionals, while introducing stricter measures against corruption and misconduct.

"The changes have long been needed," said Syed Sehab Ullah Al-Manjur, CEO of Pragati Insurance.

According to the Insurance Development and Regulatory Authority...