Bangladesh

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

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 

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 ...