Bangladesh
Pragati Insurance Limited (PIL) is a prominent non-life insurance company in Bangladesh, founded in 1986 by a group of young Bangladeshi entrepreneurs with diverse backgrounds in shipping, engineering, road construction, and garment manufacturing. The company is listed on both stock exchanges in Bangladesh and holds an 'A' class reputation, backed by a 'AA1' rating from the Credit Rating Agency of Bangladesh, signifying very strong financial security.
Pragati Insurance Limited has garnered numerous awards and accolades over the years, including the International Arch of Europe Award 2012, the World Quality Commitment Award 2008, and the International Star Award for Quality 2007. These accolades recognize the company's excellence in non-life insurance services in Bangladesh.
The company's paid-up capital stands at Tk. 556.00 million, with reserves at Tk. 2,242.42 million, resulting in an equity base of Tk. 2,798.42 million as of December 2014. As of December 31, 2014, the total assets of the company crossed Tk. 3,967.98 million.
As a leading player in the insurance and insurtech industries, Pragati Insurance Limited presents a strong investment potential in the non-life insurance segment of the Bangladeshi market. Its robust financials, claim paying ability, and established reputation position the company as an attractive investment opportunity for venture capitalists seeking exposure to Bangladesh's insurance sector.
