The insurance sector's premium income growth hit an eight-year fastest rate last year thanks to heightened efforts by insurers to revive lapsed insurance policies.

In 2018, the insurance industry's gross premium income stood at BDT124.38bn ($1.47bn), up 11.25% year-on-year, according to data from the Insurance Development and Regulatory Authority (IDRA).

The last time a higher premium income growth was seen was back in 2010 when the rate was 18.59%. From 2011-2017, it stayed at single digits, reported The Daily Star.

In 2018, growth of new life business was 9.16%, slower than the 16% growth registered in 2017. For non-life insurance, premium growth was 11.7% in 2018, marginally faster than the 11.1% logged in for 2017.

The top life insurance companies in Bangladesh are: MetLife, Fareast, National, Popular, Delta, Jiban Bima Corporation, Meghna, Prime, Pragati and Rupali.

The top non-life insurance companies are: Green Delta, Sadharan Bima Corporation, Pioneer, Reliance, Pragati, Eastland, Rupali, Phoenix, Nitol and Bangladesh General Insurance.