What Is Insurance?

Definition of Insurance:
Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement
against losses from an insurance company. The company pools clients' risks to make payments more affordable for the
insured. Most people have some insurance: for their car, their house, their healthcare, or their life.

Insurance policies hedge against financial losses resulting from accidents, injury, or property damage. Insurance also helps
cover costs associated with liability (legal responsibility) for damage or injury caused to a third party.

What is an agency?
Definition of agency:
An agency is a business, firm, or organization that provides a specific service. Often, but not always, agencies work on
behalf of another group, business, or person.

Agency, in law, the relationship that exists when one person or party (the principal) engages another (the agent) to act for
him- e.g., to do his work, to sell his goods, to manage his business. The law of agency thus governs the legal relationship in
which the agent deals with a third party on behalf of the principal.

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List of Insurance Companies in Bangladesh:
List of Government Insurance Companies in Bangladesh: The lists of government insurance
companies operating in Bangladesh are given below:
Public Sector (Life):
01.Bangladesh Jiban Bima Corporation. (14 May 1973)

Public Sector (Non-life):

01. Bangladesh Sadharan Bima Corporation. (1973)

Number No: Private Sector (Life) Established Year

01 MetLife Insurance Company Limited March 24, 1868
02 Delta Life Insurance Company Ltd. December 17, 1986
03 Popular Life Insurance Company Ltd. September 26, 2000
04 Sandhani Life Insurance Company Ltd. January 23, 1990
05 Meghna Life Insurance Company Ltd. May 5, 1996
06 Pragati Life Insurance Ltd. January 30, 2000
07 Padma Islami Life Insurance Company Ltd. April 26, 2000
08 Sunlife Insurance Company Ltd. March 1, 2000
09 Chartered Life Insurance Company Limited. July 29, 2013
10 National Life Insurance Company Limited. November 13,1848
List of Private Sector (Life) Insurance Companies in Bangladesh: The lists of Private Sector
(Life) insurance companies operating in Bangladesh are given below:

Private Sector (Non-Life) Insurance Companies in Bangladesh: The lists of Private Sector (Non-Life)
insurance List of companies operating in Bangladesh are given below:

Number No: Private Sector (Non-Life) Established Year

01 Agrani Insurance Company Ltd. 1994
02 Asia Insurance Ltd. April 30, 2000
03 Asia Pacific General Insurance Co. Ltd. November 17, 1999
04 Bangladesh Co-operatives Ins. Ltd. November 1, 1984
05 Bangladesh General Insurance Co. Ltd. November 1, 1884
06 Bangladesh National Insurance Co. Ltd. May 21, 1996
07 Central Insurance Company Ltd. November 12, 1987
08 City General Insurance Company Ltd. 1996
09 Continental Insurance Ltd. December 12, 1999

10 Crystal Insurance Company Ltd. November 11, 1999

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 List of Islami Private Sector (Life) Insurance Companies in Bangladesh: The lists of Islami
Private Sector (Life) insurance companies operating in Bangladesh are given below:

Number No Islami Private Sector (life) Established Year

01 Alpha islami Life Insurance Company Limited. 2014

02 Padma Islami Life Insurance Company Ltd. 2000

03 Prime Islami Life Insurance Co. Ltd. 2002

04 Zenith Islami Life Insurance Ltd. 2013

05 Mercantile Islami Life Insurance Ltd. 2011

06 Fareast islami Life Insurance Company Ltd. 2000

07 Protective Islami Life Insurance Co. Ltd 2013

08 True Islami Life Insurance Co Ltd 2014

List of Islami Private Sector (non-life) Insurance Companies in Bangladesh: The lists of Islami Private
Sector (Non-Life) insurance companies operating in Bangladesh are given below:

Number No: Private Sector (non-life) Established Year

01 Islami Commercial Insurance Co. Ltd 1999
02 Islami Insurance Bangladesh Ltd. 1999
03 Takaful Islami Insurance Ltd. 2001

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 Reference

Definition of Insurance: https://www.investopedia.com/terms/i/insurance.asp

Definition of agency: https://marketbusinessnews.com/financial-glossary/agency-definition/

List of Insurance Companies in Bangladesh: https://en.wikipedia.org/wiki/List_of_insurance_

 INDEX

Topic Page NO.

Insurance
Agency
List of Government Insurance Companies in Bangladesh
List of Private Sector (Life) Insurance Companies in Bangladesh
List of Private Sector (Non-Life) Insurance Companies in Bangladesh
List of Islami Private Sector (Life) Insurance Companies in
Bangladesh
List of Islami Private Sector (non-life) Insurance Companies in
Bangladesh
Reference