Numerous Baiera Life Insurance customers in Bangladesh say they have not received their savings or principal years after their policies matured, according to a report published on July 27, 2026. Policyholders including Cumilla resident Nurjahan Begum, Noakhali resident Nurunnabi and Alamgir described repeated visits to the insurer’s office without payment. Company officials acknowledged that Baiera Life currently lacks the financial capacity to settle maturity payments in full at once.

Officials said policy maturities began in 2010 and payments effectively stopped from that period. Following customer complaints to government offices in 2019, the company’s operations were dissolved under a government decision. General Manager Mobarak Hossain said Baiera Life has no new business or premium collection, while interest of Tk15 lakh to Tk22 lakh monthly on paid-up capital deposited with Bangladesh Bank is used to cover office costs. He said about 100 customers visit daily seeking dividend payments.

IDRA has red-listed Baiera Life and six other insurers, with about 6.5 million policies pending and total claims of roughly Tk4,600 crore. It said about Tk54 crore from acquisition of Baiera Life land in Malibagh for the metro rail project would be kept in a special account for customer claims. The insurer’s total dues are estimated at Tk58 crore to Tk60 crore, leaving a Tk8 crore to Tk10 crore shortfall.