IDRA selects 13 insurers for insurance excellence award 2025

Staff Correspondent: Bangladesh’s insurance regulator, the Insurance Development and Regulatory Authority (IDRA), has named 13 insurers for the ‘IDRA Insurance Excellence Award 2025’, selecting seven non-life and six life companies as examples of stronger governance, transparency and professional management.

The decision was made through an official notification signed by Monira Begum, Executive Director (Non-Life) at IDRA and sent to the chief executive officials of the selected firms on Sunday.

IDRA said the awards are intended to highlight a positive image of the insurance sector, rebuild public trust and ensure that better-performing companies receive formal recognition. According to the regulator, the initiative was approved at IDRA’s 192nd meeting and followed a sector-wide review of life and non-life insurers, with rankings determined from first to fifth place based on performance in several indicators. IDRA framed the exercise as more than a ceremonial listing, describing it as a market signal that sound governance, answerability and quality management are becoming decisive benchmarks for credibility and growth.

In non-life insurance, Pragati Insurance Limited placed first, followed by Sadharan Bima Corporation in second, Reliance Insurance PLC in third and Green Delta Insurance PLC in fourth, while Eastland Insurance PLC, Sena Insurance PLC and United Insurance Company Limited jointly shared fifth place.

In life insurance, American Life Insurance Company Limited (MetLife) ranked first, followed by Pragati Life Insurance PLC, Delta Life Insurance Company Limited and Jiban Bima Corporation, with National Life Insurance PLC and Guardian Life Insurance Limited jointly placed fifth.

IDRA said details of the award ceremony will be announced soon.