Pragati Insurance named top winner

The Insurance Development and Regulatory Authority (IDRA) has announced the names of the winners of the IDRA Insurance Excellence Award 2025, recognising the best-performing insurance companies for the first time.
The evaluation process assessed companies based on their overall performance, service quality, governance and compliance with regulatory standards, according to a notification issued by IDRA.
The award aims to enhance public confidence in the insurance industry and build a positive image of the sector, it added.
In the non-life insurance category, Pragati Insurance secured the first place while Sadharan Bima Corporation came in second. Reliance Insurance secured the third position and Green Delta Insurance claimed the fourth position. Eastland Insurance, Sena Insurance and United Insurance Company shared the fifth position.
In the life insurance category, MetLife Bangladesh secured the first place, followed by Pragati Life Insurance in second place and Delta Life Insurance Company in third place. Jiban Bima Corporation earned the fourth position while National Life Insurance and Guardian Life Insurance jointly secured the fifth place.
In July 2025, IDRA placed 32 insurance companies in the "risk" category due to weak governance and fragile financial conditions.
Of them, 15 life insurers were classified as 'high risk' and considered 'unviable', while 17 non-life insurers were categorised as 'at risk'.
Presently, there are a total of 36 life insurance companies and 46 non-life insurers in the country, according to IDRA.