Meghna Life Insurance

What Meghna Life Insurance does

Meghna Life Insurance PLC is a publicly listed Bangladeshi life insurer founded in 1996 and headquartered in Dhaka at the Meghna Life-Karnaphuli Bima Bhaban. It has been listed on the Dhaka Stock Exchange and Chittagong Stock Exchange since September 2005, holds an AA3 long-term credit rating from the Credit Rating Agency of Bangladesh, and operates a Life Fund of Tk. 16,054.01 million (approximately $146 million) alongside an investment portfolio of Tk. 11,400.46 million.

The company distributes individual life, family, and group insurance products through approximately 244 zonal offices, 12 service centers, and nearly 250 branches, supported by 13,000+ field agents. Its product suite spans endowment plans (EKOK Bima), Islamic insurance (ISLAMI Bima/Takaful under a Shariah Council), pension, child education, Hajj, marriage, single-premium expatriate plans, and supplementary riders (accidental death, permanent disability, critical illness, hospital cash). Technology stack includes an ERP platform, a consumer-facing mobile app, online premium payment portals, bKash payment integration, and an emerging AI layer for underwriting, customer service, and claims processing automation. The distribution network is supplemented by bancassurance partnerships with Dhaka Bank and NCC Bank, a network of 90+ partner hospitals offering diagnostic and radiology discounts, and telemedicine alliances with Shukhee (Grameen HealthTech) and others.

Meghna Life generates revenue primarily through recurring premium income across multi-year endowment, Takaful, group, pension, and rider contracts, plus investment income from government securities, corporate bonds, and real estate. Pricing is sum-assured-based with annual, semi-annual, quarterly, and monthly payment modes (monthly calculated as annual × 0.092). The Chairman-stated annual turnover is approximately Tk. 400 crore. Strategic segments include individual/family customers, Takaful-compliant Muslim customers, corporate group insurance, the underprivileged (Lok Bima and Islamic Micro Insurance), and Bangladeshi expatriates. Recent strategic direction emphasizes healthcare ecosystem partnerships, digital distribution, and process automation rather than geographic or product-line diversification away from Bangladesh.

Name

Meghna Life Insurance

Legal name

Meghna Life Insurance Company Limited

Website

https://meghnalife.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Meghna Life Insurance PLC is a Dhaka-headquartered, publicly listed Bangladeshi life insurer offering endowment, Takaful, pension, group, and micro-insurance products through 244 zonal offices and 13,000+ agents across Bangladesh.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411), Direct Health and Medical Insurance Carriers (524114)

SIC

Life Insurance (6311), Accident & Health Insurance (6321)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK), Basic Group Term Life (Employer-Paid) (FSAIADAA), Participating (Dividend) Whole Life Insurance (FSAIABAI)

Keywords

• Life insurance products
• Endowment savings plans
• Islamic takaful insurance
• Group insurance coverage
• Bancassurance distribution

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Individual Life Insurance Premiums: Recurring premium payments from individual life insurance policies including endowment plans, term insurance, child education plans, and pension plans. Premiums can be paid annually, semi-annually, quarterly, or monthly with a 30-day grace period.
2. Islamic Insurance (Takaful) Premiums: Shariah-compliant insurance products including ISLAMI Bima and Islamic Micro Insurance for underprivileged populations, generating premiums through contribution-based mechanism.
3. Group Insurance Premiums: Corporate group life and health insurance policies for employees of companies, providing affordable protection for employee groups.
4. Investment Income: Returns on Life Fund investments exceeding Tk. 16,000 crore, including interest from government securities, corporate bonds, and real estate investments.
5. Supplementary Rider Premiums: Additional coverage premiums for accidental death benefit, permanent disability, critical illness, and hospital cash benefits attached to base policies.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels7 records

Core offering

Meghna Life Insurance PLC underwrites and distributes individual and group life insurance, savings, pension, education, Hajj, marriage and Shariah-compliant Takaful products, along with supplementary riders, to Bangladeshi consumers, employers and bank-channel partners. Revenue is generated through recurring policy premiums, group insurance premiums and investment income on the Life Fund, distributed via a 13,000+ agent field force, bancassurance, online portal, mobile app, call center and partner hospitals.

Product overview

Meghna Life Insurance PLC operates as a diversified life insurance provider offering a comprehensive portfolio of individual insurance products and group insurance solutions. The core product lineup includes savings-oriented endowment plans (Endowment Insurance Plan EKOK), flexible payment plans (Three-Payment Insurance Plan), protection plans (Child Education Plan, Child Support Plan), pension/retirement products (Pension Insurance Plan), and specialized products (Hajj Insurance Plan, Marriage/Denmohor Insurance Plan, Single Premium Payment Plan, Premium Back Plan). The company also provides Islamic insurance through ISLAMI Bima (Takaful) compliant with Shariah principles. Supplementary rider products (Accidental Death Benefit, Permanent Disability and Accident Benefit, Critical Illness Insurance, Hospital Supplementary Insurance) can be attached to base policies. Group insurance and Bancassurance services are offered for employer groups and bank channel partners respectively. All products are supported by a nationwide network of 244 zonal offices, 12 service centers, and a network of partner hospitals providing healthcare benefits to policyholders.

Differentiator

Problem solved

Functional benefit

Products and services

• Endowment Insurance Plan (EKOK) With-profits savings insurance plan allowing policyholders to choose any sum assured with flexible terms of 10-25 years, paying full maturity benefits, earned bonuses and quick claims on death. Minimum entry age 10 years; maximum 65 years.
• Three-Payment Insurance Plan Flexible term insurance paid in three installments with bonus; nominee receives full cover on death. Partial payouts at 1/3 term (25%), 2/3 term (25%), and maturity (50%) plus profit.
• Child Education Plan Secures child's education with a growing stipend and full assistance to the nominee on death of the premium payer. Joint policy on the lives of the premium payer and child; education scholarship grows at 7% compound interest.
• Pension Insurance Plan Lifelong pension from policy maturity until death with flexible premiums. Retirement age 50-60 years; minimum pension period 10 years. On death before pension, nominee receives 10x the annual pension.
• Marriage Insurance (Denmohor) Helps husbands save for the wife's dower with full sum assured plus bonus at maturity, or to nominee on death. Policyholder must be male and wife is the nominee.
• Hajj Insurance Plan Helps policyholders save for Hajj or Umrah with a term of 5-15 years and minimum sum assured of 100,000 BDT. Pays full sum assured plus accumulated bonuses at maturity, or to nominee on death.
• Group Insurance Group Life and Health Insurance providing affordable protection and care for employees and their families, sold to corporate and organizational buyers.
• Bancassurance Insurance and financial security products distributed directly through trusted partner bank channels such as Dhaka Bank and NCC Bank, enabling customers to purchase insurance via their existing banking relationships.
• ISLAMI Bima (Takaful) Shariah-compliant Islamic insurance (Takaful) product complying with Shariah principles, with oversight from Meghna Life's dedicated Shariah Council. Includes ISLAMI Bima and Islamic Micro Insurance variants.
• Single Premium Payment Insurance Plan One-time premium payment plan paying double sum assured if insured dies during the term, or the sum assured if surviving to term end. Term 6-15 years; targeted at Bangladeshi expatriates needing remote, lump-sum payment.
• Premium Back Insurance Plan Pays full sum assured if the insured dies during the policy term, and refunds all paid premiums if the insured is alive at maturity — combining death protection with premium savings benefit.

Quantifiable outcome

• Tk. 3,662.80 crore claims paid in 2024, demonstrating timely and reliable claim settlement
• +2 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability1 record

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• United Healthcare Services LimitedcoreStrategic or Co-development Partner · 9 March 2026Memorandum of Understanding signed for strengthening healthcare access and value-added services for policyholders and stakeholders of Meghna Life Insurance PLC.
• Grameen HealthTech Limited (Shukhee)coreStrategic or Co-development Partner · 19 February 2026Strategic alliance designating Shukhee as the official telemedicine provider for Meghna Life Insurance PLC's corporate and B2B clientele, enabling digital health services.
• Life Plus LimitedcoreStrategic or Co-development Partner · 9 December 2025Strategic partnership with sister concern of Lab Aid Group providing healthcare benefits and services to Meghna Life policyholders and employees.
• bKashminorGTM or Marketing PartnerMobile financial services partnership enabling premium payments via bKash with promotional offers including Tk. 15 cashback + free Milvik doctor consultation on payments of Tk. 3,000 or more.
• Dhaka BankcoreChannel Partner/ Reseller/ DistributorBancassurance partnership for distribution of insurance products through Dhaka Bank's branch network across Bangladesh.
• NCC BankcoreChannel Partner/ Reseller/ DistributorBancassurance partnership for distribution of insurance products through NCC Bank's branch network across Bangladesh.
• MilvikminorGTM or Marketing PartnerHealthcare partnership offering free doctor consultation as promotional benefit for bKash premium payments.
• Aichi Hospital Ltd.minorOthersPartner hospital in Dhaka offering 35% discount on pathological tests and 20% on radiology & imaging services for policyholders.
• BRB Hospitals LimitedminorOthersPartner hospital in Dhaka offering 20% discount on pathological tests and radiology services for OPD and IPD patients.
• Ibn Sina Hospital-DhanmondiminorOthersPartner hospital offering 35% discount on pathological tests (except PCR) and 30% on radiology & imaging (except MRI) for policyholders.
• Evercare Hospital New DhakaminorOthersPartner hospital offering 35% discount on pathological tests and 25% on radiology & imaging services.
• Chittagong Medical College HospitalminorOthersRegional partner hospital in Chittagong offering 20% discount on pathological tests for policyholders.

Scale indicators14 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Pragati Life Insurance Limited: Listed Bangladeshi life insurer with a similar multi-product portfolio and agency-led distribution. Provides a directly comparable benchmark on premium scale, branch footprint, and product economics.
• National Life Insurance Company Limited: Long-established Bangladeshi life insurer with comparable endowment, group, and Takaful offerings sold via agents and bancassurance. Closely matched in size, channel mix, and target customer base.
• Chartered Life Insurance Company Limited: Domestic Bangladeshi life insurer offering individual and group life products. Comparable in scale and customer segments, useful as a benchmark for mid-tier life insurer performance.
• Islami Insurance Bangladesh Limited: Local insurer with a strong Takaful and Islamic product orientation in Bangladesh. Closest competitor to Meghna's Islamic insurance and micro-insurance segments, sharing the same Shariah-compliance buyer profile.
• Delta Life Insurance Company Limited: One of the largest listed life insurers in Bangladesh, offering a similar mix of endowment, savings, and group life products through a nationwide agency network. Most directly comparable peer on product mix, distribution model, and regulatory environment.
• Prime Islami Life Insurance Limited: Bangladesh-listed Takaful and conventional life insurer with a comparable dual Shariah/conventional product approach. Direct peer on Takaful pricing, micro-insurance, and bancassurance-led distribution.
• Padma Islami Life Insurance Limited: Bangladesh-focused Takaful and conventional life insurer, highly comparable to Meghna's ISLAMI Bima line and Shariah Council structure. Useful benchmark for Shariah-compliant product economics and Takaful growth.
• South Asia Insurance Company Limited: Bangladesh-based insurance group providing life and non-life coverage with strong ties to local corporate clients. Relevant as a domestic peer with shared bancassurance and group-insurance dynamics, and is also referenced as a Meghna shareholder.

Broad incumbents

• MetLife Bangladesh: Subsidiary of global life insurance giant MetLife, operating in Bangladesh with broader international product capabilities. Broader incumbent that competes on brand and multinational corporate accounts, but is not a Takaful specialist.
• AIA Bangladesh: Local arm of pan-Asian life insurance leader AIA Group, offering life and health products through agency and bancassurance. Larger, multinational incumbent that competes for premium urban and group customers in Bangladesh.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/meghnalife
• LinkedInlinkedin.com/company/meghna-life-insurance-co-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Meghna Life Insurance