Top 10 insurance companies in Bangladesh Do you want to know which are the top 10 insurance companies in Bangladesh? Read on to find out!
Choosing the right insurance company can be difficult, especially when you’re choosing from amongst the top 10 insurance companies in Bangladesh. While these top 10 companies all offer high-quality service, not all of them offer the same kinds of policies and benefits. This guide will help you find the best insurance provider for your specific needs so that you get the most out of your policy.
1) Green Delta Insurance Company Limited
Green Delta Insurance Company Limited was founded in 1997 and has grown over the years. It is a provider of general, life and non-life insurance products and services. The company is headquartered at 600, Motijheel C/A, Dhaka 1217, Bangladesh. Green Delta Insurance Company Limited operates as a subsidiary of Prudential Financial Incorporated.
Green Delta Insurance Company Limited offers its services through a network of branches across Bangladesh. In this way it can provide quick response times for all its customers.
2) United Insurance Company Limited
United Insurance Company Limited, or UNICL for short, is a life and general insurance company headquartered in Dhaka. It was founded in 1986 by twenty-four shareholders who each owned one hundred shares of stock, most of them being local businessmen and some Bangladeshi diplomats. UNICL started off as a small company but has grown over time into what it is now: a prominent name among all other Bangladeshi insurance companies.
3) Reliance Insurance Limited
Reliance Insurance Limited is a leading provider of life and general insurance products. Reliance offers a range of personal lines, commercial lines, and specialty products as well as retirement plans through its subsidiary company, Reliance Group Retirement Services. With over 20 years of experience providing financial protection services and developing innovative financial solutions, Reliance has earned an excellent reputation for customer service excellence. Founded in 1994 by Mr. Muhammad Aziz Khan, the company’s vision is to be our customers’ first choice for financial protection.
4) Fareast Islami Insurance Limited
Fareast Islami Insurance Limited is one of the most well-known and respected names in the Bangladeshi insurance industry. Headquartered in Dhaka, it has been operating since 1972. The company offers a range of products from general insurance and life cover to fidelity guarantee and health care protection. It also has offices across the country, including Sylhet, Rangpur, Bogra and Chittagong.
5) Phoenix Insurance Company Limited
Phoenix Insurance Company Limited is a joint venture company between Phoenix New Zealand and National Life Insurance Corporation of Pakistan. The company was established in 1992 and has been operating ever since. It started operations with a total capital base of USD 75 million, of which USD 50 million was subscribed by Phoenix New Zealand while USD 25 million was subscribed by the Government of Pakistan. The company’s head office is located at Gulshan-e-Iqbal, Karachi, Pakistan.
6) The Hongkong and Shanghai Banking Corporation Limited
Hongkong and Shanghai Banking Corporation Limited, also known as HSBC, is one of the largest banks in the world. It provides banking services in over 65 countries and territories, with branches and offices in Asia, Europe, North America and South America. The bank was established on 1 February 1865 by an act of Parliament under its original name The Hongkong and Shanghai Banking Company. HSBC has been a part of the Dow Jones Industrial Average Index since 2010.
7) Pragati Insurance Limited
Pragati Insurance Limited is a public limited company, incorporated and domiciled in Dhaka, Bangladesh. It was established in 1993 with a paid-up capital of Tk 1.00 million and has been listed on the Dhaka Stock Exchange (DSE) since October 2006. The Company offers property and life insurance policies for both individual customers as well as corporate clients. In addition, it provides accident and travel packages for corporate clients, pension plans for private sector employees and other financial products like debit cards, remittances etc.
8) Peoples Insurance Company Limited
Peoples Insurance Company Limited (PICL) is one of the largest and most trusted general insurers in Bangladesh. Headquartered at Dhanmondi, Dhaka, PICL has been operating for more than three decades. Today it has more than 1,500 employees and offers a variety of products to people from different walks of life. These products include fire insurance, crop insurance, motor vehicle liability cover, travel cover and commercial property coverage among others. It has also extended its reach by setting up subsidiaries such as Peoples Insurance Agency Ltd., Peoples Travel Services Ltd., Peoples Infrastructure Development Limited and Peoples Re-Insurance Company Ltd.
10) Continental Insurance Limited
Continental Insurance Limited is one of the leading insurers in Bangladesh. Continental started its journey from 1997 as a joint venture between NCC and AIG. Headquartered at Dhaka, it has now grown into one of the most well-established general insurers with a wide range of products for both corporate and personal customers. They have been voted by international rating agencies as one of the best performing insurers.
The company has more than 5000 employees with over 300 branches across all 64 districts of Bangladesh.
Continental’s customer service center is well equipped with state-of-the-art technology that allows them to serve their clients 24 hours per day, 365 days a year by phone, email and social media platforms such as Facebook and Twitter.
9) General Insurance Corporation of India
The General Insurance Corporation of India (GIC) is a public sector enterprise under the Ministry of Finance, Government of India. It was established as a wholly owned corporation by an Act of Parliament, namely, GIC Act, 1951. The GIC is governed by an independent board with up to 12 members and not more than 3 government representatives. The GIC offers products in life and non-life segments.
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