Guardian Life posts 34pc increase in Q1 claims settlement

Guardian Life Insurance Limited (GLIL) reported a 34 per cent increase in the insurance claims settlement in the first quarter of 2025, compared to the same period of the previous year.

In this quarter, the insurance service provider settled claims worth approximately Tk 1.29 billion, up from Tk 960 million in the first quarter of 2024. The company's strong commitment and operational efficiency contributed to such significant improvement, says a statement.

During the first quarter of 2025, the insurance company settled death-related insurance claims worth Tk 770 million, health-related claims worth Tk 390 million, and paid out Tk 130 million in forms of policy maturity and other claims.

According to the Insurance Development and Regulatory Authority (IDRA), Guardian's claim settlement ratio stood at an impressive rate of 97.69 per cent in 2024, positioning the company as one of the most trusted insurers in Bangladesh.

Noting the achievement, Sheikh Rakibul Karim, Additional Managing Director and CEO (Acting) of Guardian Life, said, "Our priority remains on enhancing the customer experience and satisfaction. Currently, we settle 95 percent of claims within three working days; however, we are working with an unwavering commitment to bring this down to just one day for improved service assurance."

Currently, over 12.6 million people are protected by the insurance coverage of Guardian, demonstrating the extensive reach of the insurer's services.