Welcome

To our Presentation

Prepared For:
Md. Mahmudul Huq

Prepared By:
Foysal Ahmed
Md. Mehedi Hassan

071-12-107 071-12-122

Insurance:
Insurance is a cooperative device to spread the loss caused by a particular risk over a number of person who are exposed to it and who agree to ensure themselves against the risk. So we can say about insurance that
Co-operative Device Reduction of Risk Diversification of risk Distribution of Risk

Development of Insurance sector in Bangladesh:

Since 1947 until 1971 insurance business gained momentum in this part of what was then known as East Pakistan. There were about 49 companies transacting both life and general insurance business. After the emergence of the Peoples Republic of Bangladesh in 1971, the government, in order to make available the fruit of liberation to the general mass, nationalized the insurance industry along with the banks in 1972 by Presidential Order No. 95.

At the same time, five insurance corporations were initially established

1. 2. 3. 4. 5.

Jatiya Bima Corporation Teesta Bima Corporation Karnaphuli Bima Corporation Rupsa Jiban Bima Corporation Surma Jiban Bima Corporation
On 14th May, 1973 the Insurance Corporation Act VI, 1973 was enacted under which the previous five corporations were abolished and the following two corporations emerged:

1) Sadharan Bima Corporation for General Insurance and, 2) Jiban Bima Corporation for Life Insurance in Bangladesh.

Present Situation
The nationalized state of Bangladesh insurance market

continued until 1985 when the government had change in policy and allowed setting up of insurance company by private sector. Over the year, a good number of life and general insurance were in phases. Currently, in addition to the two government corporations, 17 life insurance and 43 general insurance companies are operating in the country. Total Insurance market premium of Bangladesh in 2003 was Tk. 5878.18 or US$ 100.39 million and Tk. 1,252.82 or US$ 21.39 million approximately on general i.e. nonlife and life insurance respectively.

Reliance Insurance Ltd.

RELIANCE INSURANCE LIMITED was the fourteenth in line to start general insurance business in the private sector. The Company was incorporated on 20th March 1988 and was allowed to commence business by virtue of the Certificate of Commencement of Business issued by the Registrar of Joint Stock Companies on 22nd March 1988. The Company obtained Certificate of Registration issued by the Controller of Insurance on 7th April 1988. The Company carries on the business of all types of insurance except life assurance. It has now 30 branches, one local office with the Head Office at Dhaka

Company's main Goal

Reduce cost of reaching and serving

supplier and customers. Expand global network. Increase sales cycle. The browser based, point and click system is easy to use and understand. Growth in the overseas markets.

Company's main business operations

Underwriting of Fire Insurance Underwriting of Marine (Cargo & Hull) Insurance Underwriting of Miscellaneous Insurance Underwriting of Industrial All Risks Insurance Underwriting of Public Issue of Shares &

Debentures Investment in Shares & Debentures of Public Limited Companies Risk Assessment Service

Services to the customers

always attend to walk-in customers with regards to

enquiries purchasing new classes of insurance renewal of insurance and issuing cover notes and receipts; to guide customers on claims procedures to provide complete product information to customers for their better understanding make recommendations to customers in order for them to make an informed choice.

Products & Services

ALL RISKS POLICY CYCLONE INSURANCE POLICY DETERIORATION OF STOCK IN COLD STORAGE INSURANCE POLICY DREAD DISEASE INSURANCE EMPLOYERS LIABILITY POLICY ERECTION ALL RISKS POLICY FIDELITY GUARANTEE POLICY FIRE POLICY FLOOD INSURANCE POLICY

Investigation (CSR)
Community:
Customers: Environment:

Health & Safety:

Human Rights: Standards of Business Conduct:

Suppliers:
Workforce:

Conclusion
In the last part we say that an insurance company is very important for the society and for the country. It is very helpful for a person when the person die and he has an insurance policy, that time his family take a big support from the insurance company. If any region affected by cyclone or flood that time insurance company is very helpful for the persons and those areas. Like Reliance Insurance Limited has 20 types of policies, these policies are very helpful to the person and society. It is also creates a lot job for the jobless people. So, we can say that insurance is very important for the society and Bangladesh.

Thank you All For Join With Us