Diamond Life Insurance Company Ltd

What Diamond Life Insurance Company Ltd does

Diamond Life Insurance Company Limited is a privately held Bangladeshi life insurance company incorporated in February 2014 (Certificate of Incorporation No. C-114232/14) under an IDRA license (Registration No. LIFE 14/2014) and commenced operations in June 2014. The company is headquartered at Tropical Molla Tower, Middle Badda, Dhaka, and serves the general population of Bangladesh through a multi-channel distribution model anchored by a physical branch network of at least 12 locations spanning Cox's Bazar, Chittagong, Khulna, Savar, Laxmipur, and Habiganj, with each branch managed by Area Managers (AMD) or Deputy Managing Directors (DMD). A recruited and trained agent field force handles policy marketing and customer service in divisional, district, and key local markets, supplemented by dedicated customer care and call center functions at headquarters.

The product portfolio consists of savings-oriented endowment life insurance plans: Three/Four/Five-Phase Payment Schemes, a One-Installment single-premium plan, a Savings Insurance Plan with rider options (Accident Death Benefit, Permanent and Accidental Disability Benefit, Hospitalization Insurance), a Child Safety Insurance Scheme, a Three Installment Savings Insurance Plan, and a Takaful-compliant variant (Three Phase Payout Scheme with Takaful Profit). The company has no disclosed proprietary technology stack; it operates an Android mobile application on the Google Play Store for policyholder self-service and accepts premium payments via Rocket, Nagad, bKash mobile banking wallets, and bank transfers at Pubali, NCC, GIB, Janata, and Agrani Bank accounts. Underwriting, claims, and operations are supported by in-house back-office departments (Dev, Underwriting, Policy Servicing & Claim, Accounts, IT, Deed, Despatch, Establishment) at headquarters.

Revenue is generated entirely from life insurance premiums, which are priced via subscription with annual, semi-annual, monthly, or single-installment billing depending on the plan. Premium entry points are low — minimum Tk. 100/month for the three-installment micro-savings product, minimum sum assured of Tk. 30,000 on the Takaful variant — positioning Diamond Life as a mass-market, affordability-led insurer. The company is sponsored by a group of prominent Bangladeshi trade and commerce figures and carries authorized capital of Tk. 1,000 million against paid-up capital of Tk. 180 million. Revenue, headcount, and unit policy metrics are not publicly disclosed.

Name

Diamond Life Insurance Company Ltd

Legal name

Diamond Life Insurance Company Limited

Website

https://diamondlifebd.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

Diamond Life Insurance Company Limited is a privately held Bangladeshi life insurer, licensed in 2014 (IDRA Registration LIFE 14/2014), headquartered in Dhaka. It underwrites savings-oriented endowment and Takaful life insurance products for the general Bangladeshi population, distributed through 12+ branch offices, a trained agent field force, and mobile banking partners.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311)

akta.pro primary industry

Participating (Dividend) Whole Life Insurance (FSAIABAI)

akta.pro secondary industry

Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK)

Keywords

• Life insurance
• Endowment savings plans
• Child protection insurance
• Takaful insurance
• Term life coverage

Headquarters

HQ city

Gulshan, Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices12 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Life Insurance Premiums: Diamond Life Insurance generates revenue primarily through life insurance premiums collected from policyholders. Premiums can be paid annually, semi-annually, or in monthly installments depending on the product chosen. The company offers multiple insurance plans including savings insurance, term insurance, child safety schemes, and pension plans.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Diamond Life Insurance Company Limited sells individual life insurance policies — primarily savings-linked endowment plans, term life coverage, child safety schemes, and Takaful (Islamic) profit-sharing plans — to retail customers across Bangladesh. Policies are issued via a network of branch offices and a field force of trained agents, with optional riders including Accidental Death Benefit (ADB), Permanent and Accidental Disability Benefit (PDAB), and Hospitalization Insurance (HI). Premiums are collected annually, semi-annually or monthly, with selected plans offering profit distribution and loan facilities against surrender value.

Product overview

Diamond Life Insurance Company Limited operates as a life insurance provider offering a portfolio of individual insurance products. The product lineup consists of savings-oriented endowment plans with various premium payment structures (single, 3-phase, 4-phase, 5-phase installments), child protection coverage, and Takaful-compatible Islamic insurance offerings. Products are available with supplementary riders including Accident Death Benefit (ADB), Permanent and Accidental Disability Benefit (PDAB), and Hospitalization Insurance (HI). The company provides mobile and digital access through an Android application and accepts payments via mobile banking platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• Three Installment Scheme A life insurance plan with policy terms of 12, 15, 18, 21, or 24 years, paying 25% of sum assured at each third-milestone and the remaining 50% with profits at maturity. Premium payable annually or semi-annually; maximum maturity age 65 years.
• Four Phase Payment Scheme A profit-sharing life insurance plan with terms of 12, 16, 20, or 24 years, paying 20% of sum assured at each quarter-milestone and the remaining 40% with profits at maturity. Premium payable annually or semi-annually; maximum maturity age 65 years.
• Five-Phase Payment Scheme A profit-sharing life insurance plan with terms of 15, 20, 25, or 30 years, paying 10%, 15%, 20%, 25% at successive fifth-milestones and the remaining 30% with profits at maturity. Premium payable annually or semi-annually; maximum maturity age 65 years.
• Savings Insurance Plan A profit-sharing endowment plan providing death benefit or maturity benefit with terms of 10, 12, 15, 20, 25, 30, or 35 years. Offers ADB, PDAB, and HI rider options. Maximum maturity age 70 years; premium payable annually or semi-annually.
• One Installment Premium Insurance Plan A single-premium non-profit life insurance plan providing 1.5x sum assured on a 7-year term or 2x sum assured on a 10-year term, payable at maturity or to the nominee in case of death within the policy term.
• Child Safety Insurance Scheme A child protection plan covering both the premium payer's life and the child's life. Provides a monthly stipend equal to 1% of sum assured and full sum assured with bonus at maturity if the premium payer dies. Child entry age 6 months to 15 years; maturity age 18-30 years.
• Three Installment Savings Insurance Plan A 12-year term life insurance plan with monthly premium payments. Provides 20% of sum assured after each 4-year period of regular premium payment and the remaining with profits at maturity. Minimum annual premium Tk. 100 and maximum Tk. 10,000.
• Three Phase Payout Scheme (with Takaful Profit) A savings insurance plan with Takaful profit, offering 10, 15, or 20-year terms with annual or semi-annual premiums. Provides death benefit with accrued bonus or maturity benefit, with minimum sum assured of Tk. 30,000 and maximum maturity age 70 years.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core.

• Trust International Insurance and Reinsurance Co.coreTechnology or Integration · 1 January 2014Re-insurer for Diamond Life Insurance Company, providing reinsurance coverage for risk management and capacity support for larger insurance policies.
• Pubali Bank PLCcoreOthersPrimary banker for Diamond Life Insurance Company, holding multiple accounts including CD accounts at Principal Branch and Motijheel Branch.
• NCC Bank PLCcoreOthersBanker for Diamond Life Insurance Company, maintaining SND account at Motijheel Branch.
• GIB Bank PLCcoreOthersBanker with CD accounts at Motijheel and Gulshan branches.
• Janata Bank PLCcoreOthersBanker maintaining CD account at Purana Paltan branch.
• Agrani Bank PLCcoreOthersBanking partner for Diamond Life Insurance Company.
• G.KIBRIA & CO. Chartered AccountantscoreOthersExternal auditors for Diamond Life Insurance Company, providing annual financial statement verification and audit services.
• Bangladesh Insurance AssociationcoreOthersIndustry membership organization for insurance companies in Bangladesh, representing Diamond Life's industry participation.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Aamra Life Insurance Company Limited: Private Bangladeshi life insurer offering savings and protection plans through branch and digital channels. Comparable as a smaller private-sector peer targeting similar retail customers.
• Sandhani Life Insurance Company Limited: Bangladeshi life insurer with a multi-product portfolio including endowment and savings plans. Directly comparable in geographic footprint and customer segmentation.
• Popular Life Insurance Company Limited: Private-sector Bangladeshi life insurer offering individual and group life products with branch-led distribution. Comparable peer competing for similar retail and SME policyholders.
• Delta Life Insurance Company Limited: One of the leading private-sector life insurers in Bangladesh offering endowment, term, and savings-linked products with a multi-branch network. Closely comparable to Diamond Life in product structure and Bangladeshi customer base.
• Pragati Life Insurance Limited: Private Bangladeshi life insurer offering savings, endowment, and group life products. Directly comparable in target market, product mix, and Bangladesh-only distribution.
• National Life Insurance Company Limited: Established Bangladeshi life insurer with profit-sharing endowment plans and broad branch coverage. Comparable to Diamond Life as a domestic private peer competing for similar retail life insurance customers.
• Islami Insurance Bangladesh Limited: Bangladeshi insurer offering Shariah-compliant Takaful products including family Takaful. Directly comparable to Diamond Life's Takaful profit scheme and Muslim-majority target segment.
• Best Life Insurance Company Limited: Bangladesh-based life insurance company offering savings-linked and protection products through branch and agent networks. Closely comparable peer serving similar domestic customer segments.

Broad incumbents

• MetLife Bangladesh: Subsidiary of global insurance giant MetLife operating in Bangladesh, offering life and protection products through bancassurance and agency. Comparable as an incumbent competitor with broader portfolio and stronger brand.
• Jiban Bima Corporation: State-owned national life insurance corporation of Bangladesh offering a wide range of life insurance products. Comparable incumbent competitor with dominant market share and broader product reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles15 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 Diamond Life Insurance Company Ltd