Pragati Insurance Limited has achieved a prestigious milestone by securing first place in the Non-Life Insurance category at the IDRA Insurance Excellence Award 2025. This accolade, instituted by the Insurance Development and Regulatory Authority (IDRA), recognises the firm’s uncompromising commitment to corporate governance, regulatory compliance, and financial fortitude.
The selection was finalised following the 192nd board meeting of the regulatory body, where Pragati Insurance was lauded for its exceptional performance metrics compared to its industry peers. The award serves as a benchmark for excellence in a sector that is increasingly focused on transparency and the protection of policyholders’ interests.
A Legacy of Strategic Leadership
Under the stewardship of the Chief Executive Officer, Syed Sehab Ullah Al-Manjur, Pragati Insurance has undergone a period of robust transformation. Mr Al-Manjur’s leadership has been characterised by a “compliance-first” philosophy, integrating sophisticated risk management frameworks with streamlined operational processes.
By prioritising the digitisation of claim processing and enhancing customer touchpoints, the company has managed to maintain a competitive edge. This proactive approach to risk and consumer relations was cited by the IDRA as a primary factor in their top-tier ranking.
Performance Highlights and Award Criteria
The IDRA Insurance Excellence Award is not merely a token of appreciation but a rigorous assessment of a company’s health. The evaluation for 2025 focused on several key pillars:
| Evaluation Pillar | Pragati Insurance Performance |
| Regulatory Compliance | Exceptional adherence to IDRA solvency and reporting guidelines. |
| Financial Stability | Consistent growth in net premiums and a healthy claim-settlement ratio. |
| Governance | High marks for board transparency and ethical underwriting practices. |
| Innovation | Introduction of bespoke non-life products tailored to emerging market risks. |
The Grand Gala in Dhaka
The official presentation of the award is scheduled for this evening, 29 January 2026, at the Pan Pacific Sonargaon Hotel in Dhaka. The ceremony, commencing at 5:30 PM, is expected to be a high-profile assembly of the nation’s financial elite.
Distinguished guests in attendance will include the Governor of Bangladesh Bank and the Chairman of IDRA, underscoring the significance of this recognition within the broader financial ecosystem. For Pragati Insurance, this award validates its long-term strategy of balancing aggressive market expansion with the conservative principles of traditional insurance.