Alpha Islami Life Insurance Limited

What Alpha Islami Life Insurance Limited does

Alpha Islami Life Insurance PLC is a publicly listed Shariah-compliant life insurance company headquartered in Kawran Bazar, Dhaka, Bangladesh. Established in 2014 and listed on the Dhaka Stock Exchange, the company serves individual and corporate customers with 11 individual insurance plans including endowment, anticipated endowment (3/4/5-stage variants), child protection, assurance cum pension, Hajj Bima, Denmohor, DPS Gold monthly savings, and single-premium endowment products, along with group hospitalization health insurance for corporate clients. Distribution is conducted through 105+ branch offices nationwide and 25,000+ active agents, complemented by a proprietary mobile application and Alpha Connect online portal for policy management and premium payments.

The company generates revenue primarily through recurring premium income from individual and group policies, with payment flexibility across annual, semi-annual, quarterly, and monthly modes. Premiums are collected through bank branches of eight partner banks, mobile financial services (bKash, Nagad, Rocket, Shohoz), and online payment gateways (SSLCommerz, DGePay). Technology infrastructure includes a digital policy management system supporting end-to-end application, approval, and issuance, IP-phone communication connecting headquarters and branches, and integration with a 180+ hospital network for cashless hospitalization services. All products are structured under Islamic financial principles, avoiding interest (riba) and operating under Central Shariah Council supervision alongside IDRA regulatory oversight.

The business model is built on a sales-led agency model with a parallel direct-to-consumer digital self-serve channel. Premium revenue grew from 19 crore BDT in 2020 to 230 crore BDT in 2025, with life fund reaching 325 crore BDT (unaudited) as of December 2025. The company raised paid-up capital from 18 crore to 60 crore BDT and reports 100% claim settlement with a 7-day turnaround, zero complaints to IDRA, and a 99.99% claimed customer satisfaction rate (proprietary metric). Customer segments span individual Bangladeshis seeking ethical savings and family protection, corporate and institutional clients purchasing group insurance, and government employee beneficiaries of group hospitalization coverage.

Name

Alpha Islami Life Insurance Limited

Legal name

Alpha Islami Life Insurance PLC

Website

https://alphalife.com.bd

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Alpha Islami Life Insurance PLC is a Shariah-compliant, publicly listed Bangladeshi life insurer offering 11 individual plans and group health insurance through 105+ branches and 25,000+ agents across Bangladesh, generating 230 crore BDT in premium revenue in 2025.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

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

SIC

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

akta.pro primary industry

Participating (Dividend) Whole Life Insurance (FSAIABAI)

akta.pro secondary industries

Group Term Life Insurance (FSAIAAAJ), Universal Life (UL) Insurance (FSAIABAB)

Keywords

• Life insurance
• Shariah-compliant insurance
• Endowment plans
• Group health insurance
• Policy savings plans

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Individual Life Insurance Premiums: Recurring premium income from individual life insurance policies including endowment, anticipated endowment, child protection, pension, hajj, and denmohor plans. Premiums can be paid annually, semi-annually, quarterly, or monthly. The company has shown consistent premium growth from 19 crore BDT in 2020 to 230 crore BDT in 2025.
2. Group Insurance Premiums: Premium income from group life and hospitalization health insurance policies offered to corporate clients, institutions, and organizations. Includes supplementary health insurance rider attached to individual policies.
3. Policy Loan Interest: The company offers policy loans up to 90% of surrender value, generating interest income on outstanding loan balances.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Alpha Islami Life Insurance PLC sells Shariah-compliant life insurance products to individual and corporate customers in Bangladesh. Its portfolio includes endowment savings plans, anticipated endowment installment plans, child protection, pension, Hajj savings, denmohor, and monthly savings plans for individuals, plus group life and hospitalization health insurance for organizations. Premiums are collected through a 25,000+ agent force, 105+ branches, mobile and web apps, partner banks, and mobile financial services.

Product overview

Alpha Islami Life Insurance PLC operates as a Shariah-based life insurance company offering a comprehensive portfolio of individual and group insurance products. The company provides 11 distinct individual insurance plans including endowment plans (Ordinary Endowment, Biennial Payment, Anticipated Endowment in 3/4/5 stage variants), protection plans (Child Protection, Assurance cum Pension), and specialized savings products (Hajj Bima, Denmohor, DPS Gold). Group offerings include Hospitalization Health Insurance with maternity coverage. Supporting infrastructure includes Alpha Connect customer portal, mobile application, online premium calculator, and integrations with mobile payment platforms (bKash, Nagad, Rocket) and payment gateways (SSLCommerz, DGePay). All products follow Islamic financial principles (interest-free, Shariah-compliant) and include optional supplementary riders such as Accidental Death Benefit, Permanent Disability, Critical Care, and Waiver of Premium.

Differentiator

Problem solved

Functional benefit

Products and services

• Ordinary Endowment Insurance Plan - With Profit

Quantifiable outcome

• Premium revenue grew from 19 crore BDT in 2020 to 230 crore BDT in 2025, representing consistent year-over-year growth during challenging periods including COVID-19 pandemic.
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

15 partnerships are on record, tiered core and supporting.

• bKashcoreTechnology or IntegrationbKash is Bangladesh's largest mobile financial services provider and serves as a key premium collection channel for Alpha Islami Life Insurance. Customers can pay their insurance premiums through the bKash platform, enabling convenient mobile-based payments.
• NagadcoreTechnology or IntegrationNagad MFS (a digital financial service) is partnered as a premium payment channel, allowing policyholders to pay premiums conveniently through their Nagad accounts.
• RocketcoreTechnology or IntegrationRocket (Dutch-Bangla Bank's mobile financial service) is integrated as a premium payment option for policyholders.
• DGePaycoreTechnology or IntegrationDGePay serves as a payment gateway partner powering the company's secure online payment infrastructure on its website and mobile application.
• SSLCommerzcoreTechnology or IntegrationSSLCommerz is the primary payment gateway powering secure online premium payments on the company's website and digital platforms, with SSL encryption for transaction security.
• ShohozsupportingTechnology or IntegrationShohoz is listed as a payment network partner for premium collections, potentially offering bill payment or collection services.
• Al Arafah Islami Bank PLCcoreTechnology or IntegrationAl Arafah Islami Bank PLC serves as a premium collection partner with designated account (No. 1171220000847, Routing No. 015262538) at their Kawran Bazar Branch, Dhaka.
• Bank Asia PLCcoreTechnology or IntegrationBank Asia PLC (Islamic Window at Banani Branch) is a premium collection partner with account No. 50313000120, Routing No. 070275357, enabling policyholders to pay premiums at bank branches.
• Brac Bank PLCcoreTechnology or IntegrationBrac Bank PLC at New Eskaton Branch serves as a premium collection partner with account No. 1520104673692001, Routing No. 060261397.
• Dutch-Bangla Bank PLCcoreTechnology or IntegrationDutch-Bangla Bank PLC at Kawran Bazar Branch is a premium collection partner with account No. 1071200003717, Routing No. 090262537.
• Eastern Bank PLCcoreTechnology or IntegrationEastern Bank PLC at Sonargaon Road Branch serves as a premium collection partner with account No. 1051220312863, Routing No. 095276586.
• Janata Bank PLCcoreTechnology or IntegrationJanata Bank PLC at Kawran Bazar Branch is a premium collection partner with account No. 0100-217-732349, Routing No. 135262568.
• Mutual Trust Bank PLCcoreTechnology or IntegrationMutual Trust Bank PLC at MTB Tower Branch is a premium collection partner with account No. 9991520000152, Routing No. 145270816.
• NCC Bank PLCcoreTechnology or IntegrationNCC Bank PLC at Kawran Bazar Branch is a premium collection partner with account No. 00270325000734, Routing No. 160262533.
• Network Hospitals (180+)coreTechnology or IntegrationOver 180 hospitals and diagnostic centers across Bangladesh are part of the Alpha Life hospital network, enabling cashless hospitalization services for health insurance policyholders. Network includes hospitals in Dhaka, Chattogram, and all 64 districts. Examples include Abedin Hospital (Sherpur), Aichi Hospital Ltd. (Dhaka), Al Helal Specialized Hospital Ltd. (Dhaka), Al-Hera Hospital (Gazipur), and numerous others.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Islami Insurance Bangladesh Limited: Bangladeshi Shariah-compliant insurer operating in the Takaful space, directly competing with Alpha's Shariah-compliant positioning. Targets the same Muslim consumer segment seeking interest-free insurance products.
• Takaful Bangladesh Limited: Bangladesh-based Takaful operator providing Shariah-compliant family and general insurance. Closely comparable to Alpha's Shariah-compliant positioning and target market of ethically-minded Muslim policyholders.
• Pragati Life Insurance Limited: Bangladesh-listed life insurer providing endowment, pension, and group insurance products through agents and bancassurance. Comparable to Alpha in scale, public listing status, and product breadth within the domestic market.
• National Life Insurance Company Limited: Major Bangladeshi life insurer offering individual and group life insurance products via a large agent force. Competes head-to-head with Alpha on individual endowment plans, pension products, and group insurance for corporate clients.
• Meghna Life Insurance Limited: Bangladeshi life insurer offering traditional and group life products with nationwide branch presence. Competes directly with Alpha on individual savings-linked policies and corporate group insurance.
• Delta Life Insurance Company Limited: One of Bangladesh's largest state-owned life insurers offering endowment, term, and group life policies through an extensive branch and agent network. Direct competitor to Alpha in the Bangladeshi life insurance market with overlapping product offerings and similar distribution model.

Broad incumbents

• MetLife Bangladesh: Subsidiary of global insurer MetLife offering life and health insurance in Bangladesh through agents and corporate channels. Larger international player competing with Alpha on group and individual life products with broader brand recognition.
• Suncorp Life (Bangladesh operations): International insurance group with life insurance operations in Bangladesh, offering individual and group life products. Larger incumbent competing across similar product categories though not Shariah-focused.
• Bangladesh National Insurance Company Limited: State-affiliated general insurer with growing life insurance offerings in Bangladesh. Broader incumbent providing competing coverage options to corporate and individual clients nationwide.

Regional players

• Fidelity Life Assurance (Bangladesh): Bangladeshi life insurer offering endowment, money-back, and group insurance through agent-led distribution. Comparable peer in scale and channel structure within the same regional market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/alpha-islami-life-insurance-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Alpha Islami Life Insurance Limited