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After independence of Bangladesh, in 1972 The Presidential Order No. 95. all companies and organization operate all kinds of insurance business in Bangladesh came under this nationalization order. In 1973 the enactment of Insurance Corporation Act VI which led to creation of two corporations namely:

  • Sadharan Bima Corporation (SBC) for general insurance and
  • Jiban Bima Corporation (JBC) for life insurance in Bangladesh.

Sadharan Bima Corporation (SBC)

Sadharan Bima Corporation (SBC) came out on 14th May, 1973 under the Insurance Corporation Act (Act. No. VI) of 1973 as the only state owned organization to deal with all classes of general insurance & re-insurance business emanating in Bangladesh.Thereafter SBC was playing as the sole insurer of General Insurance till 1984.

Jiban Bima Corporation (JBC)

Jiban Bima Corporation  is the  state owned only one life insurance company in Bangladesh which executed by the Bangladesh Government .  Jibon Bima Corporation is a trusted and running Bima Corporation  in Bangladesh still now from the Pakistan period.
Insurance Development and Regulatory Authority of Bangladesh (IDRA) is the only government body for regulating and developing the insurance sector of Bangladesh since 2010.

Bangladesh Government permitted the private sector to conduct business in all areas of insurance for the first time in 1984. The private sector availed the opportunity promptly and came forward to establish private insurance companies through declaration of the Insurance Corporations (Amendment) Ordinance (LI of 1984) 1984. The Insurance Market in Bangladesh a total of 78 Insurance Companies now consists of

  • Two state-owned corporations
    • Sadharan Bima Corporation (SBC) for general insurance and
    • Jiban Bima Corporation (JBC) for life insurance in Bangladesh.
  • Forty five private sector general insurance companies ,and
  • Thirty one private sector life insurance companies.

List of Private Sector General Insurance (Non-Life) Companies as per yearly premium income,financial strength and claim payment ratio :

  • Green Delta Insurance Co. Ltd.
  • Reliance Insurance Limited.
  • Pioneer Insurance Company Ltd.
  • Pragati Insurance Ltd.
  • Eastland Insurance Company Ltd.
  • Phoenix Insurance Company Ltd.
  • Rupali Insurance Company Ltd.
  • Nitol Insurance Company Ltd.
  • Peoples Insurance Company Ltd.
  • Prime Insurance Company Ltd.
  • Bangladesh General Insurance Co. Ltd.
  • Continental Insurance Ltd.
  • Bangladesh National Insurance Co.Ltd.
  • Asia Insurance Ltd.
  • Asia Pacific Gen Insurance Co. Ltd.
  • Federal Insurance Company Ltd.
  • Republic Insurance Company Ltd.
  • Provati Insurance Company Ltd.
  • United Insurance Company Ltd.
  • Standard Insurance Ltd.
  • Northern Gen. Insurance Company Ltd.
  • Meghna Insurance Company Ltd.
  • Sonar Bangla Insurance Company Ltd.
  • Islami Commercial Insurance Co. Ltd.
  • Eastern Insurance Company Ltd.
  • City General Insurance Company Ltd.
  • Central Insurance Company Ltd.
  • Crystal Insurance Company Ltd.
  • Islami Insurance Bangladesh Ltd.
  • Takaful Islami Insurance Ltd.
  • Express Insurance Ltd.
  • Global Insurance Ltd.
  • Sena Kalyan Insurance Company Ltd.
  • Union Insurance Company Ltd.
  • Agrani Insurance Company Ltd.
  • Janata Insurance Company Ltd.
  • Mercantile Insurance Company Ltd.
  • Karnaphuli Insurance Company Ltd.
  • Dhaka Insurance Ltd.
  • Sikder Insurance Company Ltd.
  • Paramount Insurance Company Ltd.
  • Desh General Insurance Company Ltd.
  • Bangladesh Co-operatives Ins. Ltd.
  • South Asia Insurance Company Ltd.
  • Purabi General Insurance Company Ltd.

List of Private Sector Life Insurance Companies as per yearly premium income,finanacial strength and claim payment ratio :

  • MetLife Bangladesh (Foreign Company)
  • Delta Life Insurance Company Ltd.
  • National Life Insurance Company Ltd.
  • Popular Life Insurance Company Ltd.
  • Farest Islami Life Insurance Co. Ltd.
  • Meghna Life Insurance Company Ltd.
  • Prime Islami Life Insurance Company Ltd.
  • Pragati Life Insurance Ltd.
  • Rupali Life Insurance Company Ltd.
  • Guardian Life Insurance Ltd.
  • Sandhani Life Insurance Company Ltd.
  • Homeland Life Insurance Company Ltd.
  • Sunflower Life Insurance Company Ltd.
  • Sunlife Insurance Company Ltd.
  • Padma Islami Life Insurance Company Ltd.
  • Progressive Life Insurance Company Ltd.
  • Sonali Life Insurance Co. Ltd.
  • Zenith Islami Life Insurance Ltd.
  • Trust Islami Life Insurance Co. Ltd.
  • Protective Islami Life Insurance Co. Ltd.
  • Mercantile Islami Life Insurance Ltd.
  • Diamond Life Insurance Co. Ltd.
  • Chartered Life Insurance Company Ltd.
  • Best Life Insurance Company Ltd.
  • Baira Life Insurance Company Ltd.
  • Jamuna Life Insurance Ltd.
  • LIC of BD (Foreign Company)
  • Golden Life Insurance Ltd.
  • NRB Global Life Insurance Company Ltd.
  • Alpha Islami Life Insurance Ltd.
  • Sawdesh Life Insurance Co. Ltd.

These are the complete list of insurance companies in Bangladesh.

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