IDRA Insurance Excellence Awards 2025 Held

In a significant step to recognise integrity, transparency, and good governance within Bangladesh’s insurance sector, the Insurance Development and Regulatory Authority (IDRA) hosted the “IDRA Insurance Excellence Awards 2025” ceremony on Thursday, 29 January. The event, aimed at strengthening customer confidence and promoting industry excellence, was held at the Grand Ballroom of Pan Pacific Sonargaon Hotel in Dhaka.

The ceremony was graced by Dr. Anisuzzaman Chowdhury, Special Assistant to the Chief Adviser of the Government of Bangladesh, as the Chief Guest. Nazma Mobarak, Secretary of the Financial Institutions Division, attended as a Special Guest. Distinguished guests included Adiba Ahmed, First Vice-President of the Bangladesh Insurance Association, and B. M. Yusuf Ali, President of the Bangladesh Insurance Forum.

The event commenced with a welcome address by Md. Fazlul Haque, Member (Administration) of IDRA, followed by the screening of a documentary titled “IDRA: A Journey of Positive Change.” Subsequently, awards were presented to institutions that demonstrated exceptional contribution to ethics, transparency, and governance within the insurance sector.

Award Winners:

Non-Life Insurance Companies:

Life Insurance Companies:

During the award presentation, Md. Syed Sehab Ullah Al Manjur, CEO of Progati Insurance PLC, highlighted the company’s swift response to a major aviation accident at Shahjalal International Airport. The total insured loss was approximately BDT 12 billion, of which Progati Insurance disbursed around BDT 300 million in claims, against premiums of BDT 16 lakh—demonstrating the company’s commitment to policyholders in times of crisis.

Muhammad Ala Uddin Ahmad, CEO of MetLife Bangladesh, stated that receiving the award motivates the organisation to advance further while adhering to solvency margins and regulatory compliance, thereby contributing sustainably to the national economy.

In his remarks, IDRA Chairman Dr. M. Aslam Alam emphasised the need for rapid implementation of insurance laws, enhanced digitalisation, and the cultivation of professional, trained human resources to foster sectoral growth. He noted that the evaluation for these awards was based on 2022–23 and 2023–24 financial year data, including premium growth, claims settlement efficiency, management quality, administrative expenditure, and top management performance, with annual recognition of the top five companies planned for the future.

Chief Guest Dr. Chowdhury underscored the role of digitalisation and technology-driven services in aligning Bangladesh’s insurance sector with global standards, emphasising customer-centric approaches, transparency, and accountability as key to long-term sectoral and economic development.

IDRA expressed optimism that recognising the 13 awarded institutions under the IDRA Insurance Excellence Awards 2025 will play a pivotal role in promoting excellence, ethical governance, and customer trust across Bangladesh’s insurance sector.