Assignment on Insurance (part 3)

Government
S/L
Client's Name
1
Jibon Bima Corporation
Non Government
S/L
Client's Name
1
National Life Insurance Company Ltd
2
Bangladesh Gen. Ins. Co. Ltd
3
Peoples Insurance Co. Ltd.
4
United Insurance Co. Ltd.
5
Green Delta Ins. Co. Ltd.
6
Progati Insurance Limited
7
Eastern Insurance Co. Ltd.
8
Eastland Insurance Co. Ltd.
9
Karnaphuli Insurance Co. Ltd.
10
Delta Life Insurance Co. Ltd.
11
Janata Insurance Co. Ltd
12
Phoenix Insurance Co. Ltd
13
American Life Insurance Co.
14
Federal Insurance Co. Ltd
15
Reliance Insurance Ltd.
16
Rupali Insurance Co. Ltd.
17
Purabi Gen. Insurance Co. Ltd.
18
Sandhani Life Ins. Co. Ltd.
19
Bangladesh Co-operative Ins. Ltd.
20
City Gen. Insurance Co. Ltd.
21
Provati Insurance Co. Ltd
22
Prime Insurance Co. Ltd
23
Meghna Insurance Co. Ltd.
24
Meghna Life Insurance Co. Ltd
25
Pioneer Insurance Co. Ltd
26
Mercantile Insurance Co. Ltd
27
Bangladesh National Ins. Co. Ltd.
28
Northern Gen. Ins. Co. Ltd.
29
Homeland Life Ins. Co. Ltd.
30
Golden Life Insurance Ltd.
31
Nitol Insurance Co. Ltd
32
Standard Insurance Ltd.
33
South Asia Ins. Co. Ltd.
34
Paramount Insurance Co. Ltd
35
Cotinental Insurance Limited
36
Agrani Insurance Co. Ltd
37
Islami Insurance Bangladesh Ltd
38
Islami Commercial Ins. Co. Ltd.
39
Global Insurance Ltd.
40
Sonar Bangla Insurance Ltd
41
Express Insurance Limited
42
Asia Insurance Ltd.
43
Republic Insurance Company Ltd.
44
Crystal Insurance Company Ltd.
45
The Loyeds Insurance Co. Ltd
46
Sunflower Insurance Co. Ltd.
47
Union Insurance Co. Ltd.
48
Asia Pacific Gen. Ins. Co. Ltd.
49
Progressive Life Ins. Co. Ltd.
50
Desh Gen. Ins. Co. Ltd.
51
Takaful Islami Insurance Ltd.
52
Fareast Islami Life Ins. Co. Ltd
53
Prime Islami life Insurance Co. Ltd
54
Popular Life Insurance Co. Ltd.
55
Padma Islami Life Insurance Ltd.
56
Pragati Life Insurance Ltd.
57
Rupali Life Insurance Co. Ltd.
58
Sun Life Insurance Co. Ltd.
59
Baira Life Insurance Co. Ltd.

Bangladesh Insurance Association
Bangladesh Insurance Association was formed on 25 May 1988 under the Companies Act 1913. It is registered with the Registrar of Joint Stock Companies and has 30 members. It aims at promoting, supporting and protecting the interests and welfare of the member companies.Surveyors and insurance agents occupy a prominent position in the insurance market of Bangladesh. The surveyors are mainly responsible for surveying and assessing general insurance losses and occasionally, for valuation of insurance properties, while the agents work to procure both life and general insurance business against commission. The system of professional brokers has not yet developed in Bangladesh. However, it is a common practice of the insurers to engage salaried development officers for promotion of their insurance business.

Bangladesh Insurance Academy
Bangladesh Insurance Academy (BIA) established in 1973 in Dhaka by the government of Bangladesh to impart training to insurance professionals and others taking up insurance as a career. It is an autonomous body attached to the ministry of commerce. The management of the academy is vested in a board of governors formed by the government. The academy conducts various training programmes for personnel in the insurance industry, arranges seminars, symposiums and conferences on issues relating to the insurance business. The academy started functioning in early 1974 with 12 employees.
TOP INSURANCE COMPANIES IN BANGLADESH
Sadharan Bima CorporationSadharan Bima Corporation emerged on 14th May, 1973 under the Insurance Corporation Act. (Act. No.VI) of 1973 as the single state owned organization to deal with all classes of General Insurance & Re-insurance business emanating in Bangladesh.In the pre-liberation days there were as many as 49 privately owned insurance companies underwriting general insurance business along with one central Govt. run-organization, namely, Pakistan Insurance Corporation. After liberation the insurance industry was nationalized vide P.O.No. 95 of 1972.Jiban Bima Corporation (JBC)Jiban Bima Corporation established on 14 May 1973 under the Insurance Corporation Act 1973 with an authorized capital of Tk 200 million divided into 2 million ordinary shares of Tk 100 each. The paid up capital of the corporation is Tk 50 million fully subscribed by the government. The corporation is engaged in life insurance business under the provisions of the Insurance Act 1938, Insurance Rules 1958, Insurance Corporation's Rules 1977, and related other laws enforceable in Bangladesh. JBC is working among the people of Bangladesh with two basic objectives: firstly, to cover the risks and raise savings habits among the people and secondly, create funds for the country’s economic development through innovative life insurance schemes.American Life Insurance Company Alico Bangladesh started full service branch operations in Bangladesh on 15 January 1974 and has since then been marketing individual and group life insurance products under the Insurance Act 1938, Insurance Rules 1958, and other applicable laws. American Life Insurance Company Bangladesh runs its business through its agency offices scattered mostly in big cities such as Dhaka, Chittagong and Khulna. Over 2700 career agents are working for the company. The company has a trained and dedicated work force of 223 employees in Bangladesh.