Bangladesh General Insurance Co. Ltd.
Address:42, Dilkusha C/A, Dhaka-1000
Telephone :+8802-223383056-8; +8802-223386125
Mr. Ahmed Saifuddin Chowdhury
Eastern Insurance Company Limited
Address:44, Dilkusha C/A Dhaka-1000
Telephone :+8802-223383033-34 & 02-223384246-48
Mr. Mohammad Haroon Patwary
Chief Executive Officer
Eastern Insurance Co. Ltd. is one of the pioneer in general insurance business operating in the private sector of Bangladesh. The Company started its operation in the year 1986. The authorized capital of the company is Tk.100,00,00,000.00 and paid up capital is Tk.43,11,01,440.00 It is a limited Company and listed with DSE & CSE in the year 1994 and 1996 respectively. The Company has a network of 25 Branches all over the country covering all important business centers of the country Historical Background : After Liberation of Bangladesh in 1971 Bank and Insurance companies were nationalized along with other sectors like Jute and Textile to give a socialistic flavors to the economy of the newly emerged nation which was electoral pledge of the then ruling government. But with the changed global economic situation, Bangladesh Government decided to follow an open market economy right from the early eighties. Until 1986 both life and general insurance business were carried out in the country by two state owned Corporations Jiban Bima Corporation and Sadharan Bima Corporation respectively. The beginning of 1986 witnessed emergence of a few life and general insurance companies under Private Sector after passing of Insurance Amendment Act 1983 in 3rd Parliament of the Country. Eastern Insurance Co. Ltd. one of the first 10 Public Ltd. Companies, started operation in the year 1986 under the license of the Controller of Insurance. The Company is authorized to transact all classes of general insurance business. Since its emergence in 1986 the Company has earned wide reputation in the market for its strict adherence to business norms & ethics of insurance, personalized customer service and prompt and speedy disposal of claims. Now the name itself carries value to its customers. The experience gathered during the last 24 years of its operation and reputation earned gives a new dimension to its service rendered to its customer and it is now truly “a Symbol of Comprehensive Security” a slogan introduced by the Company right at the time of its birth. Objective : Eastern Insurance Co. Ltd. one of the first 10 Public Ltd. Companies, started operation in the year 1986 under the license of the Controller of Insurance. The Company is authorized to transact all classes of general insurance business. Since its emergence in 1986 the Company has earned wide reputation in the market for its strict adherence to business norms & ethics of insurance, personalized customer service and prompt and speedy disposal of claims. Now the name itself carries value to its customers. The experience gathered during the last 24 years of its operation and reputation earned gives a new dimension to its service rendered to its customer and it is now truly “a Symbol of Comprehensive Security” a slogan introduced by the Company right at the time of its birth. The Management: The Company has a very smart and efficient Management team to run the affairs of the Company. Members of the team have long experience and expertise in the relevant fields of insurance and enjoy reputation in the whole market of insurance. Business Operation: The Company operates its business through a net work 23 Branches all over the Country. These branches can directly underwrite all classes of business under guidance and supervision of Head Office. In addition there is a special booth at Head Office to meet any emergency requirement of any client or to take care of any special or exceptional risk coverage as may require by any client. The business operation of the branches are monitored and controlled by Head Office through Underwriting Department. While claims are directly handled by Claims Department of Head Office as a centralized process and practiced all over the world. The Company is authorized to transact all classes of Non life insurance business with un-restricted limits having a very wide range of re-insurance coverage. Currently the Company provides various risk coverage at a very competitive premium rates within the tariff provisions in force. Re-Insurance Arrangement: The Company has an extensive Re-Insurance Treaty arrangement with SBC for all classes of business. Re-Insurers provide technical assistance for assuming risks, developing rates and fixing up terms and conditions in case of non-tariff business. Our Government has permitted all Non life Insurance Companies for making reinsurance cessions with Foreign Reinsures up to their 50% portfolios. The Company is now capable to underwrite any high valued risk with the assistance of our local and overseas Re-Insurers. Business Diversification: The Company has also diversified its business with a view to ensure participation in other field of national economy besides insurance business. It has become a member of Chittagong Stock Exchange in the year 1996 and as per BSEC’s notification has formed a Subsidiary Company namely EIC Securities Ltd. to deal share trading related business. The Company has invested a substantial amount of its fund in land and share market. It is also a sponsor shareholder of National Housing Finance and Investment Ltd. It has a plan for a both long and short term investment in other sectors of business and industry. Credit Rating: The Company has been rated as grade-AA (pronounced as Double “A”) by the Government approved Credit Rating Agency (CRISL) based on its premium collection, core services, financial strength and expeditious settlement of claims.
Eastland Insurance Company Limited
Address:13, Dilkusha C/A Dhaka-1000
Mr. Md. Abdul Haque, FCA
Managing Director & CEO
Eastland Insurance Co., Ltd. started its journey as one of the first generation General Insurance Companies in the private sector from 05 November 1986. Eastland was listed as a public company with Dhaka Stock Exchange (DSE) in 1994 and its Tk. 30 million shares with 40% premium were over-subscribed by more than 12 times! Ever since, its performance remained steady with continuous growth. The total asset of the Company is over Tk. 1900 million having a reserve base of about Tk. 760 million and investment portfolio of Tk. 803 million. The company has so far settled claims amounting to Tk. 1879 million and has been paying ‘double digit’ dividends to its shareholders ever since its inception plus stock bonus from time to time. The fundamental principle followed by the company from the very inception was to maintain the dynamism in its business policy as well as a competitive edge in the market through service innovation and obtaining best bargain from the global market of re-insurance. Eastland has been offering a comprehensive range of insurance packages from its 25 branches throughout Bangladesh, which includes Fire, Marine, Hull, Motor, Industrial All Risk, Engineering, Aviation, Contractor’s All Risks (CAR), Overseas Mediclaim Scheme and Miscellaneous Risks. Eastland has the credit of being insurer to a host of clients ranging from distinguished individuals to big trading firms, Corporate, Banks and Financial Institutions as well as large national and multi national companies. Eastland Insurance has always been quite conscious in its Corporate Social Responsibility (CSR). Apart from several contributions to social cause, it has provided educational scholarships to the needy & deserving students, provided Medical Equipments to Hospitals, extended donations to the Prime Minister’s Relief Fund and contributed towards the victims of RANA PLAZA disaster. Eastland also provided support to the local burn victims of Nimtoli fire and Earthquake victims of the Republic of Nepal. The Credit Rating Information and Services Limited (CRISL) have affirmed “AA” Credit Rating to Eastland for three consecutive years. The Institute of Cost and Management Accountants of Bangladesh (ICMAB) awarded Eastland with the “Best Corporate Award” in the General Insurance sector for last three consecutive years. Eastland was also awarded “Certificate of Merit” by the Institute of Chartered Accountants of Bangladesh (ICAB) for the “Best presented Annual Report 2013” as a mark of recognition of Excellence in the General Insurance Sector. The company stepped into 30 years of its successful operation on the 5th of November, 2015 and has by now attained the height of sound financial strength and enviable goodwill, thus being categorized among the ‘Top-ten’ in the general insurance sector. The management of the company is a combination of astute executives with wealth of experience as well as young and dynamic leaders of today; to meet the challenges of tomorrow. The company is living up to its promised slogan: The name you have learnt to Trust by upholding its personalized services in both Sunny & Rainy days! As such, Eastland’s name has been embedded in the hearts of thousands of its clients. Trade Organizations Banks Leasing & Investment Insurance Law Firms National Companies Multinational Companies
Green Delta Insurance Co. Ltd.
Address:Green Delta Aims Tower, 51/52 Mohakhali, Dhaka-1212
Telephone :+880 9613444888
Ms. Farzana Chowdhury
Managing Director and CEO
Green Delta Insurance Company Limited (GDIC) is one of the leading private non life insurance companies in Bangladesh. GDIC was incorporated in December 14, 1985 as a public limited company, under the Companies’ Act 1913 and its operation started on 1st January 1986, with a paid up capital of BDT 30.00 million. Now, Green Delta Insurance Company Ltd. is amassed more than BDT 807 million with a credit rating of AAA and ST1 as the first Insurance Company in Bangladesh. Green Delta is also the 1st Insurance Company in Bangladesh to have equity partnership with International Finance Corporation (IFC) of World Bank Group. With a presence in the strategically important parts of the country, which includes 39 branches, Green Delta Insurance Company has established its prominent presence with equity participation in Delta BRAC Housing Ltd., Progressive Life Insurance Co Ltd, United Hospital Ltd. FinExcel Ltd. and BD Venture Ltd. Green Delta Capital Ltd., Green Delta Securities Ltd., Professional Advancement Bangladesh Limited and GD Assist Limited are four of the direct subsidiaries. GDIC provides stock brokerage services through Green Delta Securities Ltd. (GDSL) and Investment Banking services through Green Delta Capital Ltd. (GDCL). Professional Advancement Bangladesh Limited provides international standard professional trainings, in collaboration with CII, UK and GD Assist Limited is the Official Representative of Malaysia Healthcare Travel Council in Bangladesh promoting Malaysia Healthcare Tourism. Under the charismatic leadership of Mr. Nasir A Choudhury, Advisor and Ms. Farzana Chowdhury, Managing Director and CEO, Green Delta Insurance Company Ltd. has been leading the winds of change in the insurance industry of the country in terms of service standard, innovative products and legislative restructuring. After a glorious journey of 3 decades in the Insurance sector, Green Delta Insurance Company Limited has now become a big family of visionary board members, 600+ committed staff, numerous valued clients and thousands of esteemed shareholders. By now, Green Delta has been able to uphold the brand image as a prompt claim settler, superior service provider, and diversified product supplier – almost like a one stop solution provider in the non life insurance sector in the country. Green Delta Insurance is the first non-life Insurance Company from Bangladesh to introduce the retail insurance department. The department was created with the motto ‘Insurance for Everyone’. The main products that the retail insurance department sells are Motor Insurance, Overseas Mediclaim Insurance, Personal accident insurance, People’s personal accident policy, Health Insurance, All risk insurance and Nibedita- Comprehensive Insurance scheme for women. There are few other projects under Retail and SME, they are Niramoy-micro insurance for rural people, Shudin- micro insurance for garments workers, Weather index based Crop Insurance and Probashi- Comprehensive Insurance Scheme for Migrant workers. Bangladesh Government has taken up a timely initiative to provide health insurance to the people who are living below the poverty line. ‘Shashtha Suroksha Karmashuchi’ (SSK) is a project of Health Economics Unit under Ministry of Health & Family Welfare. Green Delta Insurance is the scheme operator for the whole project. Green Delta is eyeing the scope of digital insurance and has initiated online payments services to make the payment methods easier and have built up a strong IT infrastructure to be aligned with government’s recent approaches towards a more digitalized and greener future. As a part of the recognition for the contribution in the development of the insurance industry and for maintaining thestandardofservice, thecompanyhasbeenconsidered as one of the top 500 companies according to the renowned Rating Agency, Dun Bradstreet Rate Agency of Bangladesh. The company has also been awarded with many national and international awards like – “ICAB National Awards” for Best Published Accounts, ICMAB Best Corporate Award in Insurance category, ICSB Corporate Governance Excellence Award, “Winner” for the Best Presented Accounts Award in the category ‘Insurance Sector’ by the South Asian Federation of Accounts (SAFA), “International Quality Crown Award” by BID International in London, The BIZZ Award by World Business confederation of Business, USA for leadership, Excellence in a management, Quality and Marketing, “The Diamond Eye Award For Quality & Excellence” by BID OTHER WAYS, The Platinum Technology Award for Quality & Best trade name by Association Other Ways in Berlin, International Star Award for Leadership in quality in the Gold, Platinum and Diamond categories, World Finance Award for Best Non-Life Insurance Company in Bangladesh, IFM Award for Best Non-Life Insurance Company Bangladesh, International ARC Award and many more. With the slogan “Marches with time” – during the last 3 decades – GDIC has been helping people in their time of need; pulling out all the steps when needed, and has been proud to be a partner in progress.
Pioneer Insurance Company Limited
Address:Rangs Babylonia (5th Floor), 246, BirUttam Mir Shawkat Sarak, Tejgaon, Dhaka-1208
Telephone :+8802-8878901(Hunt), 8878910
Mr. S. M. Mizanur Rahman
Managing Director & CEO
Pioneer Insurance Company Limited, sponsored & founded in 1996, is a publicly traded company by shares having authorized capital of Tk. 1 (One) Billion/USD 12.50 Million & paid up capital of Tk. 699.81 million/USD 8.75 Million. The Company is enlisted with Dhaka Stock Exchange and Chittagong Stock Exchange and has been declaring dividend every year since inception. The Company has been assigned “AAA” by Alpha Credit Rating Limited(Alpha Rating) Bangladesh. Current Chairman Tapan Chowdhury Managing Director of Square Group ,former Chairman M. Anis UD Dowla, Chairman of ACI Group, former Chairman Mr. A.K.M. Rahmatullah, Member of the Parliament & Managing Director of Apex Tannery Ltd. former Chairman Mr. Syed Manzur Elahi, Chairman Apex Group & Ex-Adviser of two Care Taker Governments of People’s Republic of Bangladesh are the most successful business entrepreneurs of the country. The company has a good number of dedicated and highly professional employees supported by qualified, experienced & technically sound executives. The Consultant of the company, Mr. Q.A.F.M. Serajul Islam who is a holder of Diploma in General Insurance from Bangladesh Insurance Academy, has long experience in Insurance and Reinsurance. Prior to joining the Company he was Managing Director of Pioneer Insurance Co. Ltd., Deputy Managing Director of Pragati Insurance Ltd. and Deputy General Manager of Sadharan Bima Corporation.
Pragati Insurance Limited
Address:PragatiBhaban (16th Floor) 20-21, Kawran Bazar Dhaka – 1215
Syed Sehab Ullah Al-Manjur
Managing Director& Chief Executive Officer
Reliance Insurance Limited
Address:Shanta Western Tower (Level-5) 186, Tejgaon I/A, Dhaka-1208
Telephone : 8878836-44
Fax:7635024 MD- 8878831
Mr. Md. Khaled Mamun
Managing Director & CEO
United Insurance Company Limited
Address:Camelia House, 22, Kazi Nazrul Islam Ave. Dhaka-1000
Khawza Manzer Nadeem
United Insurance Company Limited (UICL) is a publicly listed non-life insurance company maintaining the traditional values of insurance business since commencement in 1985. The Company transacts a wide range of non-life (general) insurance business in Bangladesh including Health and Overseas Mediclaim insurance and has a goodwill and expertise in the field of insurance with sound and stable financial position. The Company has a small Board of Directors having wide range of experience in different professional fields. UICL is the only insurance company in Bangladesh having linkage with Duncan Brothers (Bangladesh) Ltd. an associates of a multinational company i.e. Camellia Plc UK.,(www.camellia.plc.uk). Duncan Brothers (Bangladesh) Ltd. is one of the sponsors of UICL where United Finance Ltd. a leading non-banking financial institution is an associate company of UICL.
Nitol Insurance Company Limited
Address:Police Plaza Concord,Tower-2 (6th floor), Plot-2, Road-144, Gulshan-1,Dhaka-1212
Mr. A K M Monirul Hoque