Pragati Life Insurance Limited was established on January 30, 2000 as a public limited company under the Companies Act, 1994 with the philosophy of maintaining competitiveness, balanced with prudent management and fairness to all policyholders. The company obtained registration from the Department of Insurance on April 11, 2000 under the Insurance Act, 1938 to carry out insurance business. The Company started with a paid up capital of Tk.30 million against an authorized capital of Tk. 250 million. Now the present paid up capital stands to Tk. 84 milion. Pragati Life has been sponsored by some renowned business entrepreneurs of the country linked with different industrial groups. went for public issue in 2005 and are listed in both Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited.

Pragati Life was established with the vision of participating effectively in the process of providing financial security to the clients as well as to facilitate creation of long term capital in the market. Pragati Life, in the process of materializing its vision, has been developing new customer oriented and innovative products developed by its own Actuarial Department. Within a short span of time, the Company has created a franchise value in the market by expanding its business network with a diversified product line throughout the country.
Pragati Life has re-insurance agreement with world's largest reinsurer-Munich Reinsurance Company, Germany since its inception.
Pragati Life is also the first insurance company in Bangladesh providing status of policies through Push-Pull (SMS) service for its policyholders. Policyholders of the company can also know their policy details from its website.