Sonali Life claims 62pc payment growth in first 2 months

In the first two months of the current year, Sonali Life Insurance Company achieved a 62% growth in insurance claims payments compared to the same period last year.

In January and February 2025, the company paid Tk 63 crore in insurance claims, up from Tk 39 crore in the first two months of 2024.

Despite the ongoing economic challenges in the country, Sonali Life, one of Bangladesh's leading life insurance companies, has continued its record of settling customer insurance claims within seven days.

Acting Chief Executive Officer Rafiqul Islam of the company said insurance claims worth Tk 31.76 crore and Tk 31.31 crore were paid in January and February 2025 respectively.

In comparison, the payments in the first two months of 2024 amounted to Tk 19 crore and Tk 20 crore.

It also achieved a growth of about 206% in insurance claims paid in 2024 compared to 2023 and Tk 380 crore in insurance claims during the 2024 calendar year, according to the company’s official statistics.

Sonali Life’s presence in Chittagong, Bangladesh's economic heartland and port division, continues to grow.

Nearly half of the company’s 231 branches (103) are located in various districts and upazilas of Chittagong, where about 20,982 field workers efficiently deliver life insurance services through Sonali Life policies.

Despite numerous adversities, Sonali Life remained a pioneer in ensuring the future financial security of its customers, while also leading in the timely payment of insurance claims, including death claims, within seven days.

Sheikh Md Daniel, director of Sonali Life Insurance said, “By boosting information technology, offering easy premium payment methods, managing operations through modern ERP software, and ensuring timely payment of insurance claims, Sonali Life has distinguished itself as a unique and unstoppable force. The strongest aspect of Sonali Life is its commitment to its customers, and the resulting customer satisfaction is a testament to this. Paying every customer’s insurance claim on time is one of Sonali Life's core commitments.”

According to data published by the regulatory body, IDRA, in November 2024, six life insurance companies paid insurance claims ranging from 99% to 100%.

Sonali Life paid 99.11% of its claims. In monetary terms, Sonali Life paid the highest insurance claims amounting to Tk 380 crore and is ranked among the top six performing life insurance companies in Bangladesh.