Dhaka, Bangladesh (BBN)- Overall premium income of the country’s insurance companies grew by nearly 20 per cent, thanks to an impressive growth sustained by the private life insurers.

Provisional figures showed that the gross premium of both general and life insurance companies has been estimated at about BDT 62.15 billion in 2009 against BDT 51.63 billion in 2008, the Financial Express (FE), a local newspaper, reported quoting preliminary figures.

Of the total, premium income of country’s private life insurers was estimated to be BDT 44.69 in 2009 while the amount was BDT 35.97 in 2008, the figures showed, reflecting a 25 percent increase.

On the other hand premium earning from general insurance companies was BDT 13.80 billion in 2009 compared with BDT 12.58 in the previous year.

The country’s insurance sector posted a 22 percent growth in the premium income in 2008 over the previous year.

The sector insiders, however, attributed the sustained growth in the premium income by life insures to an extensive marketing drive by the private insurers.

The overall premium incomes of the private insurance companies have been on a significant rise over the last few years, they added.

BBN/SSR/AD-21Sept10-11:10 am (BST)