IDRA to honour 13 Insurers with excellence award 2025
The Insurance Development and Regulatory Authority (IDRA) has decided to confer the 'IDRA Insurance Excellence Award 2025' on 13 life and non-life insurance companies in recognition of their strong performance in corporate governance, transparency, and professional management. Among the awardees, seven companies are from the non-life insurance sector, while six are from the life insurance sector.
The decision was announced in a notification signed by Monira Begum, Executive Director (Non-Life) of IDRA, on Sunday (18 January). The notice has been sent to the chief executive officers of the selected insurance companies.
According to IDRA, the award has been introduced to establish a positive image of the insurance sector, rebuild public confidence, and formally acknowledge insurers demonstrating best practices. Following approval at IDRA's 192nd board meeting, the authority conducted a comprehensive review of governance performance across life and non-life insurers and ranked companies from first to fifth position based on outstanding performance against multiple indicators.
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IDRA noted that the initiative is not merely about recognising top-performing companies, but also about sending a strong message to the market to reinforce accountability, transparency, and quality management standards in the insurance industry.
In the non-life insurance segment, Pragati Insurance Limited secured first place, followed by Sadharan Bima Corporation in second place and Reliance Insurance PLC in third. Green Delta Insurance PLC ranked fourth, while Eastland Insurance PLC, Sena Insurance PLC, and United Insurance Company Limited jointly secured the fifth position.
In the life insurance segment, American Life Insurance Company Limited (MetLife) emerged as the top-ranked insurer. Pragati Life Insurance PLC secured second place, followed by Delta Life Insurance Company Limited in third. Jiban Bima Corporation ranked fourth, while National Life Insurance PLC and Guardian Life Insurance Limited jointly placed fifth.
IDRA said details regarding the schedule and arrangements for the formal award presentation ceremony will be announced shortly.
