Pragati Life Insurance PLC
DDSE:PRAGATILIF135.10
BDT
+0.60
(+0.45%)
Pragati Life Insurance PLC
DSE:PRAGATILIF
(Dhaka Stock Exchange)
Recent
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135.10
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in mil. unless spec.- Similar Companies
- Business
- Pragati Life Insurance PLC is a Bangladesh-based life insurance and financial protection company that provides a comprehensive suite of individual, group, and Shariah-compliant insurance solutions. The company operates through several core business segments, including Individual Life, Islami Takaful (Islami Jiban Bima), Microinsurance, Group Life and Health, and Bancassurance. Its product portfolio comprises traditional endowment and whole life plans such as Jibon Sathi, Jibon Tori, Jibon Somahar, Jibon Alo, and Jibon Bikash; child education and marriage endowment schemes; anticipated endowment and multi-stage installment savings plans; retirement and pension insurance; term life, disability, and accidental death benefit riders; Shariah-compliant Takaful products, including Islami Sanchayee Bima and Islami Sanchayee Five Installment Bima; corporate group term life, supplementary hospitalization, surgical, and critical illness coverage; and low-cost microinsurance policies designed for rural and low-income demographics under the Shonchoi product line. Pragati Life distributes its products and services across Bangladesh through a nationwide branch network, direct agency distribution, corporate partnerships, and digital platforms featuring automated premium calculators, mobile policy management, and electronic premium payment gateways. In recent developments, the company has aggressively broadened its institutional distribution by establishing strategic bancassurance partnerships with major financial institutions, including Mutual Trust Bank PLC and BRAC Bank PLC, facilitating direct-to-consumer bank branch distribution and accelerated claim settlement processes. Furthermore, Pragati Life entered into a strategic collaboration with Grameen Digital Healthcare Solutions to distribute integrated life and health coverage via the Shukhee digital health platform, partnered with SSL Wireless to advance insurtech-enabled micro-distribution, secured high-profile corporate group insurance mandates with institutions including Shahjalal Islami Bank PLC and the Insurance Development and Regulatory Authority (IDRA), officially changed its corporate name from Pragati Life Insurance Limited to Pragati Life Insurance PLC, and achieved ISO 27001:2022 certification for information security management. The company maintains long-term international reinsurance treaty arrangements with Munich Reinsurance Company. Founded on January 30, 2000, Pragati Life Insurance PLC is headquartered in Dhaka, Bangladesh.