IDRA names 6 life insurers for insurance excellence award

Staff Correspondent: Bangladesh’s insurance regulator, the Insurance Development and Regulatory Authority (IDRA), has decided to confer the IDRA insurance excellence award to six life insurance companies, emphasising its push for stronger governance, greater transparency and more professional management in the sector.

The decision was disclosed in an official notice signed by Monira Begum, IDRA’s Executive Director (Non-Life), issued on Sunday.

In IDRA’s valuation of the life insurance sector, American Life Insurance Company Limited (MetLife) ranked first, followed by Pragati Life Insurance PLC in second place and Delta Life Insurance Company Limited in third. The state-owned Jiban Bima Corporation placed fourth, while National Life Insurance PLC and Guardian Life Insurance Limited jointly secured fifth position.