Life Report

Product Insurance Market Reports Life Rev Bangladesh

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice


  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Bangladesh's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Bangladesh's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Bangladesh

The Bangladesh life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Bangladesh.  Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Bangladesh and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Bangladesh’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Bangladesh is available.

Axco’s report describes the regulatory framework that applies to the Bangladesh domestic life insurance sector, including whether non-admitted insurance is permitted in Bangladesh; as well as the legislation necessary to know regarding Bangladesh’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Bangladesh with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Bangladeshi market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.


Summary and Trends

The report describes the public and private healthcare system in Bangladesh, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.


Axco reports on the three pillars of Bangladesh pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Bangladesh report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Bangladesh Life and Benefits Report Extract

Below are brief extracts of information from the Bangladesh Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

Summary and Trends

The Bangladesh life insurance market has shown steady growth. Between 2011 and 2017 total premium grew by 15.5%; however, the compound level of inflation over the same period was just over 60%. In 2019 the life insurance market premium equalled BDT 6,143.04 mn

The number of life insurance companies is considered high. At the end of 2019 there were 32 private life insurance companies in the market, plus the state-owned JBC, a number ...


Summary and Trends

The only social security pensions provided by the state are those granted under the social safety nets (SSNS), within its overall Poverty Alleviation Programmes, conducted in association with non-government organisations (NGOs). The Ministry of Social Welfare is responsible for implementing an old age allowance programme for the poorest members of society: the cash payments for this are made from government revenue. In view of its own limited resources, the government is keen to encourage private old-age pension arrangements ...


Summary and Trends

Bangladesh's public health service is basic, with limited hospital and medical facilities plus shortages of trained staff. The private sector is supported by wealthier Bangladeshis and is said to be growing in response to a demand from a developing middle-class. The COVID-19 pandemic has had a significant impact on Bangladesh's economy.
Demand for private healthcare insurance continues to rise, although few products are available and such business is mainly written by non-life insurers. Life offices, which will write healthcare only as a rider are, however, seeing growth in this sector.
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