Gross life insurance premiums in Bangladesh grew across the sector in 2025, with 22 out of 36 insurers reporting higher collections than the previous year, according to the Insurance Development and Regulatory Authority (IDRA).
The industry’s total gross premium reached Tk13,099.10 crore, up Tk832.88 crore or 6.79 per cent from Tk12,266.22 crore in 2024.
Gaining insurers
National Life Insurance posted the strongest absolute growth among private insurers. Its gross premium rose by Tk238.74 crore, or 11.36 per cent, reaching Tk2,340.42 crore in 2025 compared to the previous year.
Guardian Life Insurance, which only started operations in 2014, recorded the second-highest growth. The insurer’s premiums increased by 26.42 per cent or Tk185.24 crore. Its gross premium rose from Tk701.17 crore in 2024 to Tk886.41 crore in 2025.
MetLife Bangladesh, which remained the market leader in both years, also saw an increase of Tk171.38 crore in gross premium during the period.
State-owned Jiban Bima Corporation posted a gain of Tk115.6 crore, taking its 2025 gross premium to Tk975.95 crore.
Former IDRA member Sultan-ul-Abedine Molla said the top five companies have been in the market for many years, so people have strong trust in them.
“Insurance is a contract where people pay premiums, and when the policy matures, the insurer settles the claim,” he told TIMES of Bangladesh.
Other notable gainers include Delta Life Insurance, Pragati Life Insurance, and Sonali Life Insurance, which recorded increases of Tk87.22 crore, Tk85.56 crore, and Tk66.28 crore, respectively.
Meanwhile, Alpha Islami Life Insurance and Bengal Islami Life Insurance also saw growth of Tk29.5 crore and Tk21.52 crore, respectively.
However, 13 other insurers posted relatively modest growth of less than Tk15 crore, including Zenith Islami Life Insurance, Akij Takaful Life Insurance, and Prime Islami Life Insurance.
Insurance expert S M Ziaul Hoque said that an increase in gross premium reflects business expansion in the insurance sector and should ideally grow further considering GDP growth and inflation.
“Ideally, it could be around 15 per cent,” he said, suggesting that the sector still has significant room for expansion.
Nine companies in 2025 posted more than 15 per cent growth, according to IDRA.
Hoque added that higher premium growth depends on longer-term structural improvements in the industry, including stronger discipline and strict compliance.
Declining insurers
Despite overall industry growth, 13 life insurance companies recorded a decline in gross premiums in a year-on-year comparison.
Fareast Islami Life Insurance saw the sharpest drop, with premiums falling by about Tk 94 crore. Its gross premium declined from Tk377.47 crore in 2024 to Tk283.22 crore in 2025.
Explaining variations in company growth, S M Ziaul Hoque said declines in some insurers’ performance can have multiple causes, including a lack of business drive and market dynamics.
He also highlighted the influence of political context on the insurance sector, noting that regime changes can have an impact on business conditions and overall growth patterns.
He also emphasised the role of regulation, saying that a weak regulatory framework remains a major constraint on sectoral development.
