Prime Life Insurance Company Limited
DDSE:PRIMELIFE35.60
BDT
+0.10
(+0.28%)
Prime Life Insurance Company Limited
DSE:PRIMELIFE
(Dhaka Stock Exchange)
Recent
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35.60
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- Prime Islami Life Insurance Limited, also operating as Prime Life Insurance, is a Bangladesh-based financial services company primarily engaged in the provision of Shariah-compliant life insurance, family takaful, and long-term savings products. Founded in 2000 and headquartered in Dhaka, Bangladesh, the company operates across individual, micro, and corporate client segments, delivering Islamic financial protection and investment-linked life insurance solutions nationwide. The company offers a comprehensive portfolio of products and services organized into three principal categories: Individual Takaful, Group Takaful, and Micro Takaful. Its Individual Takaful offerings include Islami Endowment Plans; Mohor Takaful; Hajj Takaful; Child Education and Marriage Protection Plans; Anticipated Endowment Takaful featuring multi-stage payout mechanisms; Islami Money Back Takaful; Single Premium Takaful Plans; Pension and Retirement Takaful; Term Life Takaful; and supplementary rider benefits, such as Accidental Death and Dismemberment (ADB) cover, Permanent Total Disability (PTD) benefits, Critical Illness and Major Disease coverage, and Hospitalization Cash allowances. Its Micro Takaful product line features grassroots financial inclusion programs, including Grameen Takaful, Suraksha Takaful, and small-ticket savings-linked protection policies tailored for rural and low-income demographics. Its Group Takaful services encompass Group Term Life Takaful; Group Endowment Takaful; Group Accidental Death and Disability schemes; Group Critical Illness plans; and Group Medical and Hospitalization Takaful designed for corporate employers, educational institutions, and financial organizations. Additionally, the company provides Shariah-compliant fund management, deploying life funds into Mudaraba deposits, Islamic bonds (Sukuk), listed equities, and real estate assets. In recent developments, the company has undertaken operational and strategic restructuring to modernize its business model and enhance capital adequacy in alignment with the directives of the Insurance Development and Regulatory Authority (IDRA). Prime Life Insurance has accelerated its digital transformation by implementing integrated core insurance platforms, launching digital customer self-service portals, and integrating online premium payment channels with major mobile financial service (MFS) operators and commercial banks. In response to the introduction of bancassurance regulations in Bangladesh, the company has developed institutional partnerships with banking entities to expand its distribution footprint. Furthermore, the company has refined its underwriting and actuarial governance frameworks, enhanced digital claims settlement systems, and expanded its portfolio of health-oriented micro-takaful riders to capture growing domestic demand for alternative Islamic healthcare financing.