Country Profile - Bangladesh: The Future is Takaful
Source: Asia Insurance Review | May 2008
Prime Islami Life Insurance Ltd (PILIL) was incorporated in Bangladesh in the name of Prime Life Insurance Ltd in July 2000. With the demand for Shariah-compliant products in the majority Muslim country, the company changed its name to Prime Islami Life Insurance Ltd in April 2002 and is today one of the fastest-growing life insurers in Bangladesh. It has over 750 sales offices across the country and a field force of 30,000. PILIL is the only insurance company in Bangladesh having ISO certification. The company’s premium earning in 2007 was over taka 800 million from taka 59 million in 2002. In an exclusive interview with Asia Insurance Review, the Managing Director talks about the takaful market and his vision to make PILIL one of the top five life insurers in Bangladesh by 2012.
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