Prime Islami Life Insurance

What Prime Islami Life Insurance does

Prime Islami Life Insurance Limited (PILIL) is a publicly listed, Shariah-compliant life insurance company headquartered in Dhaka, Bangladesh. Originally incorporated in July 2000 as Prime Life Insurance Company Ltd., the firm was converted into an Islamic (Takaful-style) insurer in April 2002 and now operates under the supervision of a dedicated Shariah Council and the Insurance Development and Regulatory Authority (IDRA), with listings on both the Dhaka Stock Exchange (DSE: PRIMELIFE) and Chattogram Stock Exchange. The company employs 10,000+ staff and holds ISO 9001:2015 Quality Management System certification.

PILIL's product portfolio consists of four core offerings: the Endowment Assurance Plan (savings plus protection), the Annuity Plan (regular post-deferral income), the Term Assurance Plan (pure death benefit), and the Group Assurance Plan (employer-sponsored master policies). Distribution is multi-channel, combining a direct sales force, a nationwide branch network anchored at its Motijheel headquarters, an agent banking partnership with BRAC Bank (signed 2024), and a growing digital layer that includes a website with online premium payment, the MY PRIME LIFE customer portal, mobile applications, and a public premium calculator.

The revenue model is subscription/recurring, driven by life insurance premium collection from individual and group policyholders. Pricing is not publicly disclosed; premium amounts vary by age, coverage, term, and product type. Customer segments are split between mass-market individuals seeking Shariah-compliant protection and savings products, and corporate clients purchasing group coverage for employees. The corporate vision targets becoming the leading private life insurer in Bangladesh and South-East Asia, though no operational geographic expansion beyond Bangladesh has been announced.

Name

Prime Islami Life Insurance

Legal name

Prime Islami Life Insurance Limited

Website

https://primeislamilife.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Prime Islami Life Insurance Limited is a publicly listed, Shariah-compliant life insurer in Bangladesh offering Endowment, Annuity, Term, and Group Assurance plans to individual and corporate policyholders via direct sales, branches, and a BRAC Bank agent banking partnership.

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), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Participating (Dividend) Whole Life Insurance (FSAIABAI)

akta.pro secondary industries

Level Term Life Insurance (FSAIAAAA), Basic Group Term Life (Employer-Paid) (FSAIADAA), Takaful Bancassurance (Islamic Insurance Distribution) (FSABAGAM)

Keywords

• Life insurance
• Shariah-compliant insurance
• Takaful products
• Endowment plans
• Group insurance

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Life Insurance Premiums: Collection of insurance premiums from individual and group policyholders under Shariah-compliant products including endowment, annuity, term assurance, and group assurance plans.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Prime Islami Life Insurance Limited is a Shariah-compliant (Takaful-style) life insurance provider in Bangladesh, operating under the supervision of a dedicated Shariah Council. The company offers four core insurance products: Endowment Assurance Plan, Annuity Plan, Term Assurance Plan, and Group Assurance Plan, along with supporting digital services such as a customer portal, mobile apps, online premium payment, and a premium calculator tool.

Product overview

Prime Islami Life Insurance Limited operates as a Shariah-compliant life insurance company in Bangladesh, offering four core Takaful-style insurance products: Endowment Assurance Plan, Annuity Plan, Term Assurance Plan, and Group Assurance Plan. The company also provides digital service tools including a Premium Calculator, MY PRIME LIFE customer portal, Mobile Apps, and Online Payment facilities. The product portfolio follows Islamic insurance principles (Takaful) and is complemented by policyholder services such as death claims tracking, policy statements, and access to enlisted hospitals for cashless services.

Differentiator

Problem solved

Functional benefit

Products and services

• Endowment Assurance Plan
• Annuity Plan
• Term Assurance Plan
• Group Assurance Plan

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• BRAC BankcoreChannel Partner/ Reseller/ Distributor · 1 January 2024Prime Islami Life Insurance has partnered with BRAC Bank to distribute insurance products through their extensive agent banking network across Bangladesh. This partnership enables customers to access Prime Islami Life insurance services conveniently through BRAC Bank's agent banking outlets, expanding reach to underserved areas.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• MetLife Bangladesh: Bangladesh operation of MetLife offering individual life and group insurance products. Comparable on product portfolio and target corporate group clients, though operates conventional (non-Takaful) products.
• Etiqa Family Takaful: Malaysian Takaful operator offering family Takaful plans including endowment and group cover. Comparable on Shariah-compliant product mechanics and bancassurance distribution through Maybank.
• Prudential Life Insurance Bangladesh: Bangladesh subsidiary of a global life insurance group, offering individual and group life products through agency and bancassurance. Competes with Prime Islami for group insurance clients and high-net-worth individuals in Bangladesh.
• Takaful Malaysia: Malaysia's largest dedicated family Takaful operator, listed and offering Shariah-compliant life and family products. Comparable on the Takaful operating model and product structure, and serves as a regional benchmark for Islamic life insurance.

Direct peers

• Meghna Life Insurance: Bangladesh-listed life insurance company with a similar mix of individual savings-linked and group life products. Competes head-to-head with Prime Islami in the domestic Takaful-adjacent life insurance market.
• Delta Life Insurance: One of Bangladesh's largest publicly listed life insurers offering a comparable product portfolio (endowment, term, group) through similar agency-led distribution. Directly comparable on geography, product mix, and regulatory regime (IDRA).
• Pragati Life Insurance: Bangladesh-listed life insurer offering endowment, term, and group policies through agency networks. Closely comparable in scale, public listing status, and target customer segments within Bangladesh.
• Sunlife Insurance Company: Bangladesh-listed life insurer offering traditional and Islamic (Takaful) products. Directly comparable on product design, regulatory regime, and channel strategy.
• Symphony Life Insurance (formerly Islami Insurance Bangladesh): Bangladesh-based Shariah-compliant life insurer operating under Takaful principles with individual and group products. The closest direct competitor to Prime Islami in the dedicated Islamic life insurance segment of Bangladesh.
• National Life Insurance: Bangladesh-based publicly listed life insurer with overlapping individual and group life products. Operates under the same IDRA framework and competes for the same bancassurance and agency distribution channels.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/primeIslamiLife
• Facebookfacebook.com/pililbd
• LinkedInlinkedin.com/company/pililbd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Prime Islami Life Insurance