IDRA announces winners of Insurance Excellence Award 2025

The Insurance Development and Regulatory Authority (Idra) has announced the names of insurance companies selected for the IDRA Insurance Excellence Award 2025 for the first time.

The evaluation was conducted based on overall performance, service quality, governance, and compliance with regulatory standards, according to a notification issued by Idra today.

The award aims to strengthen public confidence in the insurance industry and build a positive image of the sector, it added.

In the life insurance category, MetLife Bangladesh secured first place, followed by Pragati Life Insurance in second, Delta Life Insurance Company in third, Jiban Bima Corporation in fourth, while National Life Insurance and Guardian Life Insurance jointly secured fifth place.

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

In July 2025, Idra placed 32 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."

According to Idra, Bangladesh currently has 36 life insurance companies and 46 non-life insurers.