Nitol

Reliance
& Islamic insurance company

insurance & Risk

Mustangs
management
 Outline
– Insurance and the
history.
– Insurance background in
Bangladesh
– Current scenario of
insurance industry in
Bangladesh
– Nitol insurance
• Company study
• Types of services
• Fund management
Mustangs
 – Reliance insurance
company
• Company study – Comparison
• Types of services between three
• Fund insurance company
management – How insurance
• CSR companies can be
• Future way out flourished
– Islamic insurance – Recent recession
company and world insurance
• Company study business.
• Types of services – World ranking
• Fund

Mustangs
 ü Health and life insurance,
Introduced by Greeks and
Romans, in 600 AD
ü Nicholas Barbon In 1680,
established England's first fire
insurance company, "The Fire
Office,“.
ü Insurance company walked into
US was in 1732, formed in
Mustangs Charles Town (modern-day
Insurance background in Bangladesh
ü Triton insurance ,Calcutta pioneer in general insurance
,established in 1850
ü Oriental life assurance company, the first life
insurance company, established in 1818
ü Were generally limited to the British people working in
India
ü Insurance business exclusively operated by private
sector In Pakistani period
ü On 14th May, 1973 the Insurance Corporation Act VI,
1973 was enacted and five corporations were
abolished into the following two corporations
1) Sadharan Bima Corporation for General Insurance
Mustangs
 Current scenario of insurance
industry in Bangladesh
ü 62 insurance companies.
• 2 state-owned corporations
• 43 general & insurance companies
• 17 life insurance companies
ü SBC was acting as the sole insurer of general
Insurance till 1984
ü Bangladesh Government allowed the private
sector to conduct business in all areas of
insurance for the first time in 1984
ü At present, nearly all the companies place

Mustangs
 Nitol insurance
ü Company study
– Sponsored & founded in 1996 by a group of
entrepreneurs of Bangladesh
– Emerged from Nitol Niloy group.
– Has been assigned “AA3” rated General
Insurance Company
ü Types of services
– Fire
– Marine
– Motor
– Engineering
– Miscellaneous Insurance
– Aviation Insurance
Mustangs
 Nitol insurance
Fund management
– Authorized Capital is Tk.200 Million
– Tk.150 Million ( Sponsor- 60 Million &
Public 90 Million) is Issued
– Total investment Tk.471.05 million
CSR
– No CSR activities
Future way out
– Spread allover Bangladesh in response
to the claim as early as possible.

Mustangs
 Reliance insurance
Company study
– Was incorporated on 20th March 1988
– was subsequently listed in the stock
Exchanges of Bangladesh in 1995
üTypes of services
– Fire Insurances
– Marine Cargo Insurances
– Marine Hull Insurance(TLO & ITC)
– Engineering Insurances
– Motor Insurances
– Miscellaneous

Mustangs
Reliance insurance
• Fund management
– Paid –up Capital 150.00
– Total Reserves 505.40
– Total Assets 1065.80
• CSR
– participated while the nation was in natural
disaster
• Future way out
– Reaching all over Bangladesh.
– Is trying to invest heavily in human resource
– Focusing to attain re-insurance to be competitive in this
Mustangs
 Islamic insurance
company
Company study
– Incorporated on may 09,1998
– Market category “a”
– Initiative was taken from Khulna region
• Types of services
– Fire
– Marine
– Motor
– Engineering
– Miscellaneous Insurance
– Cyclone insurance

Mustangs
 Islamic insurance
• Fund managementcompany
– Authorized capital 30.00 crore
– Paid up capital 13.00 crore
– Total investment Tk.70 crore
• CSR
– No specific CSR activities
• Future way out
– Spread allover Bangladesh
– Diversification in investment

Mustangs
 How insurance companies can
flourish
ü Declaring insurance as a thrust sector
ü Initiating micro insurance
ü Establishing a regulatory body with
adequate knowledge in insurance
business
ü Rule out the compulsory provision of re
insurance with Shadharan Bima
Corporation
ü Both innovation and creativity can be

Mustangs
 Recent recession and world insurance
business.
ü All the companies are affected
ü Dropped its auto insurance rates in
Georgia by an average of 1.5%
ü The current premiums are 12% lower than
five years ago

Mustangs
 World ranking

Mustangs
 Mustangs

Mustangs
 Thank You

Mustangs