Pragati Insurance Limited has achieved a prestigious milestone by clinching first place in the Non-Life Insurance category at the IDRA Insurance Excellence Awards 2025. This accolade, instituted by the Insurance Development and Regulatory Authority (IDRA), recognises the firm’s peerless contributions to the nation’s financial landscape and its unwavering commitment to industry best practices.
A Benchmark for Excellence
The selection process was rigorous, with the final verdict reached during the 192nd meeting of the IDRA Board. Pragati Insurance was lauded for its exceptional performance across several critical metrics, including corporate governance, strict regulatory compliance, and robust financial stability. In an industry where trust is the primary currency, the firm has distinguished itself through transparent operations and a superior claims-processing mechanism.
Under the astute leadership of CEO Syed Sehab Ullah Al-Manjur, the company has undergone a period of significant strategic refinement. Mr Al-Manjur’s tenure has been defined by a “compliance-first” philosophy, integrating advanced risk management frameworks with a customer-centric approach. His visionary guidance is widely credited as the catalyst for the firm’s ascent to the top of the 2025 rankings.
Driving Innovation in the Insurance Sector
Pragati Insurance has not merely maintained standards but has actively sought to redefine them. By introducing innovative insurance products tailored to the evolving needs of the Bangladeshi market, the company has secured a dominant market share. Its efficiency in handling complex claims has set a new benchmark for the non-life sector, ensuring that policyholders receive timely support during critical periods.
| Award Criteria | Pragati Insurance Performance Highlights |
| Governance | Highest rating for board transparency and ethical conduct. |
| Regulatory Compliance | Zero-tolerance policy on IDRA guideline deviations. |
| Financial Strength | Consistent growth in solvency margins and asset quality. |
| Customer Service | Rapid digitised claims settlement and 24/7 support. |
The Awards Ceremony
The formal presentation of the award is scheduled for this evening, 29 January 2026, at 5:30 PM in the Grand Ballroom of the Pan Pacific Sonargaon Hotel, Dhaka. The ceremony will be a high-profile gathering of the country’s financial elite, featuring the Governor of Bangladesh Bank as the Chief Guest, alongside the Chairman of IDRA.
This recognition serves as a testament to Pragati Insurance’s resilience and its role as a pillar of the domestic insurance industry. As the sector moves toward greater digitisation, the firm’s recent success positions it as a frontrunner in the quest to enhance insurance penetration across the country.