The Insurance Development and Regulatory Authority (IDRA) has officially designated six life insurance companies as recipients of the prestigious IDRA Insurance Excellence Award 2025. This initiative represents a concerted effort by the regulator to highlight “shining examples” of professional management, transparency, and robust corporate governance in a sector often clouded by public scepticism.
The selection was finalised based on a comprehensive set of performance indicators, including the efficiency of claim settlements, financial solvency, and the digitisation of policyholder services.
Leading the Charge: MetLife Secures Top Honour
According to a formal notice signed by Monira Begum, IDRA’s Executive Director (Non-Life), the American Life Insurance Company (MetLife) achieved the highest overall score, securing the first position. MetLife’s dominance is largely attributed to its sophisticated technological infrastructure and a claim-settlement record that remains the gold standard for the Bangladeshi insurance market.
Pragati Life Insurance PLC followed in second place, while Delta Life Insurance Company Limited—one of the oldest and most established private insurers in the country—secured the third spot.
IDRA Insurance Excellence Awards 2025: Life Insurance Merit List
| Rank | Award-Winning Company | Standing |
| 1st | American Life Insurance Company (MetLife) | Winner |
| 2nd | Pragati Life Insurance PLC | 1st Runner-up |
| 3rd | Delta Life Insurance Company Limited | 2nd Runner-up |
| 4th | Jiban Bima Corporation (JBC) | 3rd Runner-up |
| 5th (Joint) | National Life Insurance PLC | Excellence Mention |
| 5th (Joint) | Guardian Life Insurance Limited | Excellence Mention |
Public Sector Gains and Shared Honours
A notable highlight of the 2025 awards is the fourth-place ranking of the state-owned Jiban Bima Corporation (JBC). The inclusion of the nationalised insurer in the top five indicates a successful shift toward more rigorous management and improved customer service within the public sector.
The fifth position was shared by two distinct entities: National Life Insurance PLC, a veteran in the domestic market, and Guardian Life Insurance Limited, a newer entrant that has rapidly gained market share through innovative micro-insurance and digital partnerships.
The Road to Restoring Confidence
The introduction of these awards comes as part of the IDRA’s broader strategy to clean up the insurance landscape. By publicly endorsing these companies, the regulator is essentially providing a “safe list” for the public, encouraging a “flight to quality” where consumers choose insurers based on their regulatory compliance rather than just premium costs.
The IDRA has indicated that these rankings will be published annually to ensure that companies do not become complacent. For the selected six, the award is not just a trophy but a valuable marketing asset that signifies to potential policyholders that their investments are in secure, transparent hands.