Popular Life Insurance Co. Ltd.
DDSE:POPULARLIF53.80
BDT
+0.70
(+1.32%)
Popular Life Insurance Co. Ltd.
DSE:POPULARLIF
(Dhaka Stock Exchange)
Recent
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53.80
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yld
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- Business
- Popular Life Insurance Company Limited (doing business as Popular Life Insurance PLC) is a Bangladesh-based financial services company primarily engaged in the provision of life insurance, micro-insurance, and Islamic Takaful products and related financial solutions. Founded in 2000 and headquartered in Dhaka, Bangladesh, the company serves individual, retail, rural, and corporate clients across the country through an extensive nationwide branch network and agency distribution force. Popular Life Insurance operates through distinct underwriting and service segments, including Individual Life Assurance, Islamic (Takaful) Insurance, Micro-Insurance, and Group Insurance. Its product and service portfolio comprises individual life and endowment policies, including standard endowment assurance, single-payment endowment, anticipated multi-stage endowment plans (three-payment, four-payment, and five-payment endowment assurance), and money-back term assurance; specialized child and education security plans, such as child protection assurance, child scholarship assurance, and education expense assurance; retirement, savings, and healthcare solutions, including assurance cum pension and medical benefit schemes, deposit pension schemes (DPS), and term assurance; religious and culturally focused life covers, including Hajj Bima and Mohorana Bima plans; micro-insurance schemes tailored for low-income and rural populations, including Al-Amin Bima, Janapriya Bima, Islami DPS Bima, and Rural Endowment Bima featuring accidental death and disability riders; and group insurance offerings, including group term life, group personal accident, and group medical and hospitalization coverage for corporate institutions, statutory bodies, and employee benefit funds. In addition to its core underwriting activities, the company provides capital market brokerage and investment services through its subsidiary, Popular Life Securities Limited, and acts as a sponsor of mutual fund vehicles. In recent developments, Popular Life Insurance has advanced its digital transformation strategy by integrating Mobile Financial Services (MFS) platforms and electronic banking channels, such as bKash and Nagad, to streamline policy premium collections, loan repayments, and claim disbursements nationwide. The company has also expanded its distribution footprint under Bangladesh's regulatory framework for bancassurance, entering into institutional partnerships with domestic commercial banks to cross-sell life insurance and savings products through banking networks. Operationally, the company has prioritized digitized claim settlement tracking, upgraded its core information technology infrastructure to improve policy servicing, enhanced corporate governance under updated regulatory guidelines issued by the Insurance Development and Regulatory Authority (IDRA), and continued expanding its rural outreach programs and Islamic micro-Takaful portfolio across regional divisions in Bangladesh.