Insurance sector in Bangladesh emerged after independence with 2 nationalized insurance companies- 1 Life & 1 General; and 1 foreign insurance company. In mid 80s, private sector insurance companies started to enter in the industry and it got expanded. Now days, 62 companies are operating under Insurance Act 2010. Out of them-
18 Are Life Insurance Companies Including 1 Foreign Company And 1 Is State-Owned Company,
44 General Insurance Companies Including 1 State-Owned Company.
Insurance companies in Bangladesh provide following services:
Life insurance,
General Insurance,
Reinsurance,
Micro-insurance,
Takaful or Islami insurance.