Pragati Insurance

What Pragati Insurance does

Pragati Insurance PLC is a Bangladesh-based, publicly listed non-life (general) insurance company headquartered in Dhaka and founded in 1986 by a group of Bangladeshi entrepreneurs drawn from shipping, engineering, road construction, and garment manufacturing. The company is listed on both the Dhaka Stock Exchange and the Chittagong Stock Exchange under the ticker PRAGATIINS, and it holds an AAA credit rating (awarded in 2017) and a first-place IDRA Insurance Excellence Award (2025). It operates branches across all eight administrative divisions of Bangladesh — Dhaka, Barisal, Chattogram, Khulna, Mymensingh, Rajshahi, Rangpur, and Sylhet — and reports a workforce in the 1,001-5,000 range.

The company's core product set is a comprehensive general insurance catalog spanning property and casualty (Motor, Fire, Marine cargo and hull, Engineering, All Risks, Miscellaneous), health and personal protection (Health Care & Hospitalization, Personal Accident, Overseas Mediclaim), specialized lines (Aviation, Climate and Agriculture), and Re-Insurance. Distribution is conducted through a direct branch network and bancassurance partnerships with banks. Recent strategic partnerships with Lab Aid Group and LifePlus Bangladesh Limited (both 2025) extend the company's reach into healthcare-related distribution, and a significant new investment in First National Company Bank Limited (FNCBL) signals capital deployment into adjacent financial services.

The business model is built on recurring insurance premium revenue from a horizontal mix of individual and corporate clients, with pricing not publicly disclosed and varying by coverage type, policy terms, and risk assessment. Underlying technology is described as a generic general insurance platform with no disclosed proprietary AI, ML, or digital capabilities. As of 2025 the company declared a 30% dividend at its 40th Annual General Meeting, and an open CEO recruitment process is underway, suggesting an active executive transition.

Name

Pragati Insurance

Legal name

Pragati Insurance PLC

Website

https://pragatiinsurance.com

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Pragati Insurance PLC is a Bangladesh-listed non-life insurance company offering motor, fire, marine, health, aviation, and agriculture coverage to individuals and corporations through a national branch network and bancassurance partnerships. Founded in 1986 and headquartered in Dhaka.

Ownership category

akta.pro rank

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premium Revenue: Pragati Insurance PLC generates revenue through collecting insurance premiums from various general insurance products including motor, fire, marine, health, accident, and liability coverage.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Pragati Insurance PLC is a Bangladesh-based non-life (general) insurance company that underwrites and distributes a full range of general insurance products covering motor, fire, marine, engineering, aviation, climate and agriculture, health and hospitalization, personal accident, overseas mediclaim, all-risks, and miscellaneous risks. It also provides reinsurance to other insurers and distributes its products directly through branch offices and via bancassurance partnerships with banks.

Product overview

Pragati Insurance PLC is a leading non-life insurance company in Bangladesh established in 1986. The company operates as a single unified insurance provider offering a complete range of general insurance products and services. Its portfolio spans property and casualty insurance (Motor, Fire, Marine, Engineering, All Risks, Miscellaneous), health and personal protection (Health Care & Hospitalization, Personal Accident, Overseas Mediclaim), specialized coverage (Aviation, Climate and Agriculture), and reinsurance services. Products are distributed through direct channels and Bancassurance partnerships with banks. The company is recognized as the Best Non-Life Insurance Company in Bangladesh and holds an AAA credit rating.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Lab Aid GroupcoreStrategic or Co-development Partner · 1 January 2025Signing ceremony conducted between Lab Aid Group and Pragati Insurance PLC for collaborative partnership in healthcare and insurance services.
• LifePlus Bangladesh LimitedcoreStrategic or Co-development Partner · 1 January 2025Signing ceremony between LifePlus Bangladesh LTD. and Pragati Insurance PLC for strategic partnership.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Provati Insurance Company Limited: Bangladeshi non-life insurer with overlapping general insurance lines and listed-equity presence, comparable to Pragati in scale and product mix.
• Reliance Insurance Limited: Listed Bangladeshi non-life insurer offering motor, marine, fire, and health products. Closely overlaps Pragati's product portfolio and listed exchange presence.
• Nitol Insurance Company Limited: Bangladeshi non-life insurer with similar general insurance offerings including motor, marine, and fire. Listed competitor in the same domestic market as Pragati.
• Eastern Insurance Company Limited: Listed non-life insurer in Bangladesh offering comparable P&C, marine, and health products, serving similar corporate and individual segments as Pragati.
• Sonar Bangla Insurance Limited: Listed Bangladeshi general insurer providing comparable P&C and health products, with similar distribution through branches and bancassurance.
• Asia Insurance Limited: Dhaka-based general insurance company offering motor, fire, marine, and accident coverage. Direct competitor to Pragati across similar product lines and customer segments.
• Bangladesh General Insurance Company Limited: Long-standing Bangladeshi non-life insurer offering motor, fire, marine, and miscellaneous covers, directly comparable to Pragati's product breadth and target customers.
• Pioneer Insurance Company Limited: Bangladeshi non-life insurer covering similar general insurance lines including motor, marine, fire, and engineering. Comparable scale and listed-status dynamics.
• Green Delta Insurance Company Limited: One of the largest non-life insurers in Bangladesh, directly competing with Pragati across motor, fire, marine, and health lines. Highly comparable in product breadth and domestic branch distribution.

Broad incumbents

• Sadharan Bima Corporation: State-owned non-life insurer in Bangladesh offering general insurance lines comparable to Pragati, with materially larger balance sheet and policyholder base as the dominant incumbent.

Market position

Strengths2 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/PragatiIns
• Facebookfacebook.com/PragatiInsLtd
• LinkedInlinkedin.com/company/pragati-insurance-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pragati Insurance