Dr M Mosharrof Hossain has been appointed chairman of the IDRA, the regulator of 79 life and non-life insurers in Bangladesh.
The government on Sunday issued an order in this regard.
Earlier, he was appointed an acting chairman at the country's insurance regulatory body.
Presently, there are a total of 79 firms, including two government corporations, in the insurance sector regulated by the IDRA (Insurance Development and Regulatory Authority).
Bangladesh has now 77 privately-owned life and non-life insurance companies with a combined annual turnover of around Tk 135 billion.
The government formed the IDRA in 2011 replacing the then department of insurance with a view to bringing discipline in the insurance sector and making it a vibrant industry.