Pragati Insurance PLC
DDSE:PRAGATIINS70.10
BDT
+0.30
(+0.43%)
Pragati Insurance PLC
DSE:PRAGATIINS
(Dhaka Stock Exchange)
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70.10
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ROIC.AI
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- Business
- Pragati Insurance PLC is a Bangladesh-based financial services company that operates as a general, non-life insurance underwriter providing risk management and insurance solutions to corporate, commercial, industrial, and individual clients. Founded in 1986 and headquartered in Dhaka, Bangladesh, the company conducts underwriting operations nationwide across an extensive branch network. The company operates primarily through five core underwriting segments: Fire Insurance, Marine Insurance, Motor Insurance, Engineering Insurance, and Miscellaneous & Specialized Insurance. Its core product and service portfolio comprises fire and allied perils insurance, including coverage for commercial, industrial all-risk, and residential properties; marine insurance, comprising marine cargo for import and export consignments, marine hull, and inland transit policies; motor insurance, providing comprehensive vehicle coverage, third-party liability, and commercial fleet protection; engineering insurance, including machinery breakdown (MBD), boiler and pressure vessel (BPV) insurance, electronic equipment insurance (EEI), erection all risks (EAR), contractor's all risks (CAR), contractor's plant and machinery (CPM), and deterioration of stock (DOS) coverage; aviation insurance, covering aircraft hull, liability, and aviation war risks; and liability and casualty insurance, encompassing public liability, product liability, employer's liability, workmen's compensation, fidelity guarantee, burglary and housebreaking, money-in-transit, cash-in-safe, ATM risk coverage, and credit shield policies. Additionally, Pragati Insurance PLC provides personal line solutions, including group hospitalization and health insurance, personal accident plans, overseas mediclaim, and weather index-based agricultural insurance. In recent operational and strategic developments, Pragati Insurance PLC has expanded its distribution capabilities by rolling out bancassurance partnerships with financial institutions, including distribution agreements with Midland Bank PLC and The Premier Bank PLC to cross-sell non-life, motor, and travel insurance products across banking networks. The company has also entered into strategic corporate healthcare partnerships with leading medical service providers, including Labaid Group and LifePlus Bangladesh Ltd, to offer integrated medical coverage and diagnostic benefits for policyholders. Furthermore, the company was recognized with first place in the non-life insurance sector at the IDRA Insurance Excellence Awards and continues to maintain an AAA long-term credit rating for financial strength and claims-settlement capacity.