Popular Life Insurance

What Popular Life Insurance does

Popular Life Insurance PLC is a Bangladeshi life insurance company incorporated in 2000 as a public limited company under The Companies Act, 1994 and registered with the Chief Controller of Insurance in October 2000. The company operates under the supervision of the Insurance Development and Regulatory Authority (IDRA) under the revised Insurance Act, 2010, and has been listed on the Dhaka Stock Exchange and Chittagong Stock Exchange since July 2005 under the 'A' category. It is sponsored by individuals linked to the PHP family business group, with the PHP Chairman serving as the company's Board Chairman.

The company underwrites and distributes a diversified portfolio of life insurance products through a multi-tier domestic distribution network comprising a Corporate Office, Divisional Offices, Servicing Cell Offices, and Project Offices, all within Bangladesh. The product range spans conventional life insurance (Child Education Insurance, Child Protection Insurance, Double Payment, Janapriya Bima, Al-Amin Bima, Popular DPS), micro-insurance (Ekok Bima, Janapriya Ekok Bima), specialized products (Haj Bima for Hajj pilgrimage, Mohorana Bima for marriage), and a Shariah-compliant Takaful line (Islami Bima Takaful, Al-Barakah Islami Bima, Islami DPS, Al-Barakah Islami DPS). Technology infrastructure consists of an Android mobile application and policyholder-facing digital services; no AI/ML, proprietary underwriting models, or third-party platform integrations are disclosed.

The business model is recurring-premium-based across a long-tail retail customer base of 4.31 million individual policyholders accumulated since inception, with claims paid totalling Tk. 62,616.50 million over that period. 2024 Premium Income was Tk. 5,311.41 million against total assets of Tk. 21,849.16 million, a Life Fund of Tk. 16,034.24 million, and investments of Tk. 15,126.75 million. The company holds an AAA long-term and ST-1 short-term credit rating as of December 2024 and pays dividends to shareholders alongside policyholder bonuses, reflecting a mature, dividend-oriented public insurer rather than a high-growth venture-backed business.

Name

Popular Life Insurance

Legal name

Popular Life Insurance PLC

Website

https://popularlifeins.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Popular Life Insurance PLC is a Bangladeshi life insurer offering conventional and Shariah-compliant Takaful products — including child education, pilgrimage, and micro-insurance plans — to over 4.31 million individual policyholders through a multi-tier domestic branch and agent network.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

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

SIC

Life Insurance (6311)

akta.pro primary industry

Participating (Dividend) Whole Life Insurance (FSAIABAI)

akta.pro secondary industries

Whole Life Insurance (FSAIABAA), Group Whole Life (Limited/Continuous Pay) (FSAIADAE), Retakaful (Life & Health) (FSAIANAM)

Keywords

• Life insurance products
• Takaful insurance
• Endowment policies
• Deposit pension schemes
• Group insurance schemes

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Life Insurance Premium Income: As per 2024 financial statement, the company earned Premium Income Tk. 5,311.41 million. Since inception to December 2024, the company has paid various claims amounting Tk. 62,616.50 million in favour of 4.31 million Policy holders.

Distribution channels4 records

Marketing channels3 records

Core offering

Popular Life Insurance PLC is a Bangladesh-based life insurance company that sells both conventional life insurance policies (Child Education, Child Protection, Double Payment, Mohorana Bima, Haj Bima, Janapriya Bima, Al-Amin Bima) and Shariah-compliant Takaful products (Islami Bima Takaful, Al-Barakah Islami Bima) along with deposit pension schemes (Popular DPS, Islami DPS, Al-Barakah Islami DPS). The company distributes these products across Bangladesh through corporate, divisional, servicing cell, and project offices, supported by a mobile application and digital service infrastructure for policyholders.

Product overview

Popular Life Insurance PLC is a third-generation life insurance company in Bangladesh offering a diverse portfolio of life insurance products and services. The company operates both conventional life insurance products (Child Education Insurance, Child Protection Insurance, Double Payment, Janapriya Bima, Al-Amin Bima, Popular DPS, Ekok Bima) and Shariah-compliant Takaful products (Islami Bima Takaful, Al-Barakah Islami Bima, Al-Barakah Islami DPS, Islami DPS). The product portfolio also includes specialized offerings like Haj Bima for pilgrims and Mohorana Bima for married couples. The company provides various insurance schemes and benefits targeting different segments of the Bangladeshi population, with both individual and group coverage options.

Differentiator

Problem solved

Functional benefit

Brands

• Ekok Bima: Group insurance scheme product
• Islami Bima Takaful
• Al-Barakah Islami Bima
• Janapriya Ekok Bima
• Janapriya Bima
• Al-Amin Ekok Bima
• Al-Amin Bima
• Islami DPS
• Al-Barakah Islami DPS
• Popular DPS
• Child Education Insurance
• Child Protection Insurance
• Double Payment
• Haj Bima
• Mohorana Bima

Products and services

• Child Education Insurance A life insurance product designed to provide financial protection and savings for a child's future education expenses. Targeted at parents and families planning for their children's higher education funding needs.
• Child Protection Insurance Insurance coverage designed to protect children against various risks and provide financial security. Targeted at parents seeking dedicated child protection benefits.
• Double Payment A life insurance product that provides double benefit payments upon maturity or specified events. Targeted at individuals seeking enhanced payout benefits.
• Haj Bima Specialized insurance product for Hajj pilgrims providing coverage and financial planning for the pilgrimage. Targeted at Muslim individuals planning to perform Hajj.
• Mohorana Bima Life insurance product designed for married couples providing combined coverage and benefits. Targeted at married couples seeking joint life coverage.
• Ekok Bima (micro-life insurance) Micro-life insurance product providing coverage for policyholders with small premiums, often used in group schemes. Targeted at lower-income individuals and group schemes.
• Islami Bima Takaful Shariah-compliant Islamic insurance product based on the Takaful model for Muslim policyholders. Targeted at Muslim individuals seeking halal life insurance coverage.
• Al-Barakah Islami Bima (Ekok) Islamic insurance product with blessings (Barakah) combining Ekok coverage with Shariah principles. Targeted at Muslim individuals and groups seeking Shariah-compliant micro-insurance.
• Janapriya Ekok Bima Popular choice micro-insurance product providing accessible group coverage to a wide population. Targeted at groups and associations seeking affordable collective coverage.
• Al-Amin Bima Trusted and reliable life insurance product offering comprehensive coverage. Targeted at individuals seeking dependable conventional life insurance.
• Janapriya Bima Popularly preferred life insurance product among customers. Targeted at individual consumers seeking standard life insurance.
• Islami DPS Islamic-based Deposit Pension Scheme following Shariah principles for savings and retirement planning. Targeted at Muslim savers planning for retirement.
• Al-Barakah Islami DPS Shariah-compliant deposit pension scheme with divine blessings for Muslim savers. Targeted at Muslim savers seeking halal pension savings.
• Popular DPS Popular Deposit Pension Scheme offering regular savings with insurance benefits and maturity payouts. Targeted at individual savers seeking pension with insurance cover.

Named customers1 record

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators9 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Delta Life Insurance Company Limited: One of the largest and oldest life insurance companies in Bangladesh, listed on Dhaka Stock Exchange, offering a similar portfolio of conventional and group life insurance products to individual and corporate clients.
• National Life Insurance Company Limited: Bangladesh-based listed life insurer with a comparable product mix covering endowment, group, and microinsurance products, competing directly with Popular Life Insurance for individual and group policyholders.
• Pragati Life Insurance Limited: Bangladesh-listed life insurance carrier offering endowment, term, and group life products, sharing similar distribution channels and regulatory positioning with Popular Life Insurance.
• Sun Life Insurance Company Limited: Bangladesh-incorporated life insurer providing individual and group life insurance with comparable product categorization, competing for the same urban and semi-urban policyholder segments.
• Padma Islami Life Insurance Limited: Bangladesh-based Shariah-compliant life insurer directly overlapping with Popular Life Insurance's Takaful and Islami DPS offerings, addressing the same Muslim policyholder demographic.
• Meghna Life Insurance Company Limited: Listed Bangladeshi life insurance company with similar product architecture including endowment, DPS, and group plans, competing for the same domestic market.

Broad incumbents

• Green Delta Insurance Company Limited: One of Bangladesh's largest private insurers spanning general and life insurance, providing comparable life products through a wider portfolio, competing for the same corporate and individual buyers.
• MetLife Bangladesh: Subsidiary of global insurance giant MetLife operating in Bangladesh, offering broader life and health insurance solutions; competes for the same upper-tier individual and corporate clients as Popular Life Insurance.

Regional players

• Life Insurance Corporation of India (LIC): State-owned Indian life insurance giant operating across South Asia; relevant regional benchmark for capital structure, product breadth, and distribution scale, though LIC operates primarily in India.
• SBI Life Insurance Company Limited: Large listed Indian life insurer with a comparable mix of participating and group life products, providing a regional benchmark for product economics and digital distribution growth in South Asia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Popular Life Insurance