Peoples Insurance Company Limited provides insurance solutions in Bangladesh. The company offers fire, industrial risk, marine cargo, marine hull, motor, contractor’s risk, erection risk, machinery breakdown, deterioration of stock, boiler and pressure vessel, and burglary and housebreaking insurance solutions. It also provides cash-in-transit, cash-in-safe, cash-on-counter, public liability, personal accident, workmen’s compensation, goods-in-transit, comprehensive travel, overseas medi-claim, fidelity guarantee, and bank lockers insurance solutions. The company was incorporated in 1985 and is based in Dhaka, Bangladesh.
The Peoples Insurance Company Limited is very proud to stand beside its customer and general people of Bangladesh when they are in disaster. The company is always a friend of it’s valued customer through its business responsibilities and of general people of Bangladesh through its corporate social responsibilities. Our board of directors leading both types of responsibilities includes veteran insurance personalities, industrialists, doctors, chartered accountant, and business professions. The human resource team is educated in developed countries like USA, UK, Australia, and Germany. The board of directors is chaired by Mr. Abul Basher Mukul, who is always dedicated to the company.
Our vision Our mission is to reach at zenith point of providing quality service and hence achieving highest corporate goal and customer satisfaction. Our slogan is “manush manusher Janna”
Our mission Our assignment is to produce value for shareholders all the way through customer, employee and general people satisfaction
First private insurance company in Bangladesh
A reliable insurance company in the insurance landscape in Bangladesh.
Customers’ satisfaction is our main concern.
We value our customer, we protect our customer.
We provide the protection you need.
Care for you forever
To get you set soon again.
Marches with time
Celebrating 30 years of time
Future Plans
The Company has undertaken various realistic future plans which amongst others include the following:-
To computerize the entire operation system within the shortest possible time
To impart extensive training for the employees at home and abroad. Field force (100%) has to be properly groomed up.
To expand Company's operations to all commercially important places of the country gradually.
To introduce new products depending on the demand of the market.
To observing March as the "Client Service Month" in every year.
To follow "Service First than Business "by expeditious and judicious settlement of claim.
Capital Structure
Date of Incorporation
31 March 1985
Obtained Certificate for Commencement of Business
31 March 1985
Registered with the Department of Insurance
31 July 1985
Authorised Capital
Tk. 50.00 Crore
Issued, Subscribed and Paid up Capital
Tk.15.00 Crore
Listing in Dhaka Stock Exchange
29 July 1990
Listing in Chittagong Stock Exchange
10 October 1995
Prospectus Issued for Floatation of Public Shares
16 August 1990
Amount of Public Subscription
Tk. 3.00 Crore
Registration of Land at 36, Dilkusha C/A,Dhaka-1000.(Measuring 16.85 Katha)
05 March 1998
Inaguration of 22 storied Building Construction work at 36, Dilkusha C/A, Dhaka-1000
09 June 1999
Bonus Share Issued @ 25%
In 2004
Bonus Share Issued @ 100%
In 2005
Listed with CDBL
4th July 2005
Rated by CRISL
CPA-BBB
Corporate Social Responsibility (CSR)
Peoples Insurance Company Ltd has been participating in Corporate Social Responsibility (CSR) continuously since its inception in various ways. As for instance, the company has developed a unique culture to help distressed peoples, environment, heritage, sports, education, employment and much more. A few of the corporate social responsibilities are as follows:
After the natural disasters, we participate in various types of the activities for the reconstruction of the damaged infra-structures. Moreover, when the calamity is over, we try to take care of those who have lost their lives and their valued properties.
We are always in favor of protecting our tradition and heritage. For example, our company always sponsors not only the sports which are our own, for example, Kabadi, Bali Khela, Lathi Khela etc. but also our non-traditional sports like football and cricket.
Our company created a significant number of employment opportunities for the unemployment human resources since its inception. The effort for job creation will continue in future too.
The company has a plan to provide scholarships for the needy brilliant students who want to make a career in the fields of technology and digital sciences.
We have a plan to help the sick-aged people so that they do not consider themselves as a burden of our society.
Finally, the company focuses on the welfare of the employees so that they can have the necessary skills and opportunities to face the challenges.
Head Office Executives
S. N.
Name
Designation
1.
M. H. Khaled
Managing Director & CEO
2.
Nizam Mohammed Uddin
Additional Managing Director
3.
Mezbahul Karim
Deputy Managing Director
4.
Abdullah-Al-Mamoon
Deputy Managing Director
5.
M. Abu Bakar Siddique
Deputy Managing Director
6.
Sib Sankar Saha
Deputy Managing Director & CFO
7.
Md. Shamsul Haque Khan
General Manager-II
8.
Md. Abdul Wohab Khan
General Manager-II
9.
Md. Iqbal Hussain
General Manager-II
10.
Md. Shafrinoor Rahman
General Manager-II
11.
Md.Delower Hossain Chowdhury
Deputy General Manager
12.
Chowdhury Hamid Gaffar
Deputy General Manager
13.
S. M. Nasim
Deputy General Manager
14.
Md. Jahangir Alam
Deputy General Manager
15.
Md. Abdullah-Al-Mobin
Deputy General Manager
16.
Ashique-Ur-Rahim
Deputy General Manager
17.
Mir Zulfequr Rahman
Deputy General Manager
18.
Md. Sharifuddin
Deputy General Manager
19.
Asif Nur
Deputy General Manager
20.
Md. Azizul Haque Talukder
Asstt. General Manager
21.
Md. Kamaluddin Akunjee
Asstt. General Manager
22.
Anisul Mowla Ratan
Asstt. General Manager
23.
Md. Nurul Huda
Adviser(Marketing)
Valued Customers
LIST OF SOME OF OUR VALUED CLIENTS IN THE LAST 5 YEARS.
1.
The ACME Laboratories Limited
2.
Apex Foods Limited
3.
Apex Weaving & Finishing Limited
4.
Bashundhara Group
5.
BOC Bangladesh Limited
6.
Abul Khair Group
7.
DADA Corporation (Korean Enterprise)
8.
Echo Cotton Mills Limited
9.
Erba Group
10.
Fison's (Bangladesh) Limited
11.
Glaxo Smith Kline Bangladesh Limited
12.
Hotel Sarina, Banani, Dhaka
13.
Kader Synthetic Fibers Limited
14.
M.M. Ispahani Group
15.
MSA Spinning Limited
16.
Opex Group
17.
PHP Group
18.
Paxar Bangladesh Limited, EPZ, Savar, Dhaka
19.
Prime Group of Industries
20.
R.M. Group
21.
RAK Ceramic Industries Pvt. Limited
22.
Scholastica Group
23.
Sena Kalyan Sangstha
24.
Shinepukur Holding Co. Limited
25.
Shanta Group, EPZ, Savar, Dhaka
26.
Siemens Bangladesh Limited
27.
Sinha Textile Group
28.
STS Holding (including Apollo Hospitals, Dhaka)
29.
Techno Textile Mills Limited
30.
Youngone Bangladesh Limited, EPZ, Savar, Dhaka & Patenga, Chittagong
31.
AA Synthetic Fibres Limited.
32.
Royal Thai Embassy
33.
Nandan Group
Snapshot of PEOPLES INSURANCE CO LTD (PEOPLE)
OPEN
$56.00
PREVIOUS CLOSE
$55.80
DAY HIGH
$56.90
DAY LOW
$54.70
52 WEEK HIGH
12/6/10 - $115.24
52 WEEK LOW
05/25/11 - $41.50
MARKET CAP
--
AVERAGE VOLUME 10 D
516.4K
EPS TTM
--
SHARES OUTSTANDING
0.0
EX-DATE
04/12/11
P/E TTM
--
DIVIDEND
$0.48
DIVIDEND YIELD
0.86%
K = Thousands M = Millions B = Billions
INCLUDEPICTURE "http://www.bloomberg.com/apps/chart?timeout=10&h=225&w=220&type=gp_line2&range=1y&ticks=PEOPLE:BD&cfg=ChartBuilderVol_bw.xml&img=png" \* MERGEFORMATINET
Our Services Name of the Services
1.
Fire Insurance
2.
Industrial "All Risks" Insurance
3.
Marine Cargo Insurance
4.
Marine Hull Insurance
5.
Motor Insurance
6.
Contractor's "All Risks" Insurance
7.
Erection"All Risks" Insurance
8.
Machinery Breakdown Insurance
9.
Deterioration of Stock Insurance
10.
Boiler & Pressure Vessel Insurance
11.
Burglary & Housebreaking Insurance
12.
Cash-in-transit Insurance
13.
Cash-in-safe Insurance
14.
Cash-on-counter Insurance
15.
Public Liability Insurance
16.
Personal Accident Insurance
17.
Peoples's Personal Accident Insurance
18.
Workmen's Compensation Insurance
19.
Goods-in-transit Insurance
20.
Comprehensive Travel Insurance
21.
Over-seas Medi-claim Insurance
22.
"All Risks" Insurance
23.
Fidelity Guarantee Insurance
24.
Bank Lockers Insurance
AchievementsBusiness & Statistical Information Since 2001 (Figures in Million Taka)
Particulars
2001
2002
2003
2004
2005
2006
2007
Financial Performance
Gross Premium
195.50
212.55
256.43
261.37
259.66
238.68
257.18
Net Premium
135.81
139.60
150.61
145.93
111.62
137.62
163.30
Gross Claim
24.45
23.62
49.80
104.29
55.33
423.24
38.18
Net Claim
19.84
22.11
29.44
37.49
24.50
120.38
23.35
Underwriting Profit / (Loss)
24.46
32.95
33.07
31.88
31.22
(127.54)
0.32
Investment & Other Income
13.55
12.35
12.48
16.86
15.11
21.89
217.39
Net Profit /Loss) befor Tax
36.50
43.92
44.20
47.05
3.27
(144.83)
193.00
Net profit / (Loss) after Tax
29.28
30.02
31.62
32.44
3.27
(141.49)
177.97
Share Capital & Reserve
Paid up Capital
60.00
60.00
60.00
60.00
75.00
150.00
150.00
Shareholders Equity
185.01
198.76
213.82
228.42
204.56
279.58
295.91
Reserve
124.80
138.76
153.82
168.42
129.56
129.58
145.91
Assets
Investment in Shares & Securities
17.41
17.41
18.1
17.83
25.73
25.25
27.62
Cash, FDR & Bank Balance
154.75
163.96
178.53
179.24
121.42
100.28
128.83
Land & Building
174.12
238.83
343.54
496.9
643.49
629.99
490.06
Other Assets
152.45
152.40
127.41
138.20
94.72
103.84
148.69
Total Assets
498.73
572.57
667.58
832.17
885.36
859.36
795.20
Financial Analysis
Dividend in Percentage
26%
27%
25%
25%(stock)
100%(stock)
No Dividend
10%
Earning per share(EPS)
48.8
50.03
52.70
54.07
4.36
-96.55
118.64
Highest/Lowest Market
Price of Share
690/540
675/540
1850/800
800/673
673/270
548/180
Office and Location of Peoples Insurance Company Limited.
Head Office
Peoples Insurance Bhaban (15th Floor), 36, Dilkusha C/A Dhaka-1000, Bangladesh. Phone: 9564166, 7174203-4 Fax: 88-02-9564795 Email: HYPERLINK "mailto:peoples@telnet-bd.com" peoples@telnet-bd.com
ELEPHANT ROAD BRANCH
91, New Elephant Road Dhaka Md. Alauddin Dulal General Manager -II
KAWRAN BAZAR BRANCH
41/1, Kazi Nazrul Islam Avenue (Floor No. 3) Kawran Bazar, Dhaka-1215. Md. Shahnewaz Khan General Manager
Recommendation:
Chapter # 05
5.1 Recommendation
There must be scope for further developments:
Introducing flexible working hours for the workers as that they can look after their personal problem during these flexible hours.
Building a team of committed workers who strongly believe in the organizational goal.
Designing insurance policies that include strict disciplinary action against all bad activities.
Making the planning process more clear of the strategies, goals, action and operational plans in Peoples Insurance Company Limited.
Scanning the national and international environmental for the competitive edge and technological advance in Peoples Insurance Company Limited.
Conclusion
Peoples Insurance Company Limited is one of the leading insurance institutions in Bangladesh. Day by day Peoples Insurance Company is going upward. Peoples Insurance Company Limited is established in 1985.
When we were doing this assignment, we got so much practical knowledge. This practical knowledge helps us lot to know about overall insurance company activities.
Bibliography
The information and data provided by the Peoples Insurance Company Limited is mainly used for this assignment. Basically Bibliography means to write down some book’s, web-sites & other name that help for doing this report but here we tried to write down our theoretical and practical knowledge along with the information of provided by Peoples Insurance Company Limited. The references which are used for prepare the report is given below:
Books
• M. N. Mishra (Insurance Principles and Practice)
• Banglapedia
• Peoples Insurance Company Limited Annual Report 2010
Internet Sources
• HYPERLINK "http://www.Scribd.com" www.Scribd.com
• HYPERLINK "http://www.peoplesinsurancebd.com" www.peoplesinsurancebd.com
• HYPERLINK "http://www.investing.businessweek.com" www.investing.businessweek.com
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