United Insurance receives IDRA Insurance Excellence Award

United Insurance Company Limited (UICL) has received the IDRA Insurance Excellence Award 2025 in recognition of its sustained contribution to the country’s insurance sector and its commitment to ethical practices, transparency and good governance.

The award was presented to Khandaker Moinul Ahsan, Chairman and Khandaker Zahin Ahsan, Director, of United Insurance Company Limited, at a ceremony organised by the Insurance Development and Regulatory Authority (IDRA).

Introduced this year by IDRA, the Insurance Excellence Award aims to strengthen customer confidence in the insurance industry by promoting responsible business conduct. United Insurance secured a place among the top five non-life insurance companies under the award framework.

The ceremony, held at a hotel in the capital, was attended by Dr Anisuzzaman Chowdhury, special assistant to the chief adviser of the government, as chief guest, while Nazma Mobarek, secretary of the Financial Institutions Division, attended as special guest.

Other attendees included Adiba Ahmed, first vice-president of the Bangladesh Insurance Association, BM Yusuf Ali, president of the Bangladesh Insurance Forum, and Md Fazlul Haque, member (administration) of IDRA, who delivered the welcome address.

United Insurance’s recognition reflects its strong operational and financial performance. Between 2022 and 2025, the company settled nearly 94 per cent of all insurance claims, demonstrating reliability and customer trust. The insurer also reported positive operating cash flow, generating Tk 0.99 per share from its core business activities.

As of the latest reporting period, United Insurance’s net asset value stood at Tk 30.59 per share, while earnings per share amounted to Tk 2.26, underlining steady value creation for shareholders. The company also maintained a solvency margin above regulatory requirements, highlighting its financial resilience and ability to meet long-term obligations.

Speaking after receiving the award, chairman Khandaker Moinul Ahsan said the recognition would encourage the company to continue strengthening its role in the development of Bangladesh’s insurance sector and enhancing customer confidence.

United Insurance Company Limited is a publicly listed non-life insurer in Bangladesh. Established in 1985, the company offers a wide range of insurance services and operates across the country.