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COMPANY PROFILE
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We
like to take the privilege to introduce our Company , Pioneer Insurance Company Limited
, sponsored & founded in 1996 by a group of entrepreneurs of Bangladesh who had earlier established themselves as leading industrialists and business magnates of the country. Pioneer Insurance Company Limited is a publicly traded company by shares and enlisted with Dhaka Stock Exchange and Chittagong Stock Exchange. The Company is financially sound and has been declaring dividend since inception.
The Company has been assigned “AA2” rated General Insurance Company . “AA2” rating stands for high claim paying ability, good protection factors and an exception of variability in risk over time due to economic and/or underwriting conditions
Current Chairman Mr.Anis Ud Dowla Chairman, ACI
Ltd. Ex-Chairman Syed Manzur Elahi , Chairman
of Apex Group & former Adviser of the Care Taker Government of People's Republic of Bangladesh, Ex-Chairman
Mr.A.K.M. Rahmatullah, Member of the Parliament & Managing
Director of Apex Tannery Ltd., Ex-Chairman Mr.Tapan Chowdhury, Managing Director, Square Group & former Adviser of the Care Taker Government 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 Managing Director 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 his joining the company he was Deputy Managing Director of Pragati Insurance Ltd. and Deputy General Manager of Sadharan Bima Corporation. Deputy Managing Director Mr. Al-Moeiz Laiwala MBA (IBA-DU), Deputy Managing Director Mr.Mizanur Rahman and Executive Director Mr.A.K.M.Jashimuddin Ahmed ABIA have also long experience in Insurance and Reinsurance.
The company has been honored to provide insurance protection for the most reputed business houses of its Sponsor Directors.
± Apex Tannery Group of Industries.
± Advanced Chemical Industries Ltd.
± Abeeco Industries Ltd.
± Bashundhara Group of Industries.
± Square group of Industries.
± Palmal Group of Industries.
± Brustoff Group of Industries.
± Shamsul Alamin Group of Industries.
± Rumki Industries Ltd.
Apart from sponsors, we have been enlisted with all the major Local and Foreign Banks Operating in Bangladesh to Underwrite their clients' Insurance business as under:
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Foreign |
Local |
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Commercial Bank of Ceylone
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All Nationalised Banks, such as
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Citibank
N.A. |
Sonali Bank Ltd, Janata Bank Ltd, Agrani Bank
Ltd., Rupali
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Hong Kong & Shanghai Banking
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Bank Ltd., Bangladesh
Development Bank, Bangladesh Krishi Bank & Bangladesh Shilpa Rin
Sangstha.
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Corporation Ltd. |
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Standard Chartered Bank
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Hanil Bank |
Private Banks, such as
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Habib Bank Ltd. |
Arab Bangladesh Bank Ltd. |
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South East Bank Ltd.
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Al-Arafah Islami Bank Bangladesh Ltd. |
National Bank of Pakistan
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Bangladesh Commerce Bank Ltd., |
State Bank of India
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Basic Bank Ltd. / Bank Asia Ltd. |
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Dutch Bangla Bank Ltd., / Dhaka Bank
Ltd. |
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Eastern Bank Ltd. / Exim Bank Ltd. |
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I.F.I.C. Bank Ltd., ICB Islami
Bank Ltd. |
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Islami Bank Bangladesh Ltd. |
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Mutual Trust Bank Ltd. |
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Mercantile Bank Ltd. |
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National Bank Ltd. |
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National Credit & Commerce Bank |
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One Bank Ltd. |
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Prime Bank Ltd. / Pubali Bank Ltd. |
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Premier Bank Ltd. |
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Rajshahi Krishi Unnayan Bank |
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Socail Islami Bank Ltd. |
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Pioneer
Insurance Company Limited.
| Established |
1996 |
| Registered Office |
Symphony (5th Floor), Plot # SE(F),9 Road # 142, South Avenue,Gulshan-1, Dhaka-1212 , Bangladesh., Tel: 8817512(Hunting),Fax:+88-02-8817234, 8817264. Email
:
piclho@pioneerinsurance.com.bd |
| Number of Branches |
29 |
| Number of Employees |
415 |
| Authorized Capital |
500.00 million |
| Paid up Capital |
180.75 million. |
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Premium Income :
Since inception of our company in 1996, we have progressed tremendously in the field of Insurance business. This is evident from the fact that we have earned for ourselves a premium to the tune of as follows which would give you an idea of the steady progress that has been made by the Company.
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Year |
Figures in Million (BDT)
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| 1996 |
23.14 |
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1997 |
85.47 |
| 1998 |
105.33 |
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1999 |
131.99 |
| 2000 |
141.48 |
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2001 |
144.58 |
| 2002 |
136.27 |
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2003 |
147.09 |
| 2004 |
178.34 |
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2005 |
245.41 |
| 2006 |
301.16 |
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2007 |
385.20 |
| 2008 |
665.50 |
| 2009 |
859.45
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CLAIMS PAYMENT :
Clients service and prompt settlement of claims are the key to the success and growth of the company. Claims are settled immediately on completion of the required formalities by the insured and the surveyors.
Claim
Statement From 2005 to 2009.
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2005
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2006
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2007
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2008
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2009
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Fire |
26,237,805
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129,179,450
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111,974,255
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31,226,959
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77,306,422
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Marine |
1,672,517
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3,053,741
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36,141,341
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10,883,626
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5,570,595
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Motor |
8,166,258
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16,215,633
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29,135,180
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48,697,458
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25,879,177
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Misc. & Accident
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1,304,188
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1,564,973
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6,213,021
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1,493,976
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249,399
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Total Tk. =
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37,380,768
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150,013,797
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183,463,797
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92,302,019
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109,005,593
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No.of Claims Settled
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176
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239
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379
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642
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408
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Claims Outstanding
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NIL
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NIL
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NIL
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NIL
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33
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Few
Settled Claims above 50 Lacs .
S/N.
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Class of Loss
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Name of Insured
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Settled Amount
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1. |
Fire |
Matin Spinning Mills Ltd. |
9,29,44,709 |
2. |
Fire |
Square Consumer Products
Ltd. |
7,51,72,582 |
| 3. |
Fire |
Vidyut Bangladesh (Pvt.) Ltd. |
69,836,293 |
4. |
Fire |
Apex Footwear Ltd. |
4,68,17,019 |
5. |
Fire |
Sun Gravures Ltd. |
4,55,97,518 |
| 6.
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Fire
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Pioneer Apparels Ltd.
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4,04,09,331
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7. |
Marine Cargo
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GBB Power Ltd. |
2,68,17,138 |
8. |
Fire (Flood)
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Dai-Ichi-Pex Leather
Industries Ltd.
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1,08,94,774
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9. |
Marine Cargo |
Square
Pharmaceuticals Ltd. |
99,63,650 |
| 10.
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Marine Cargo
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Shahjalal Newsprint Ltd.
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79,70,196
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11. |
Marine Hull |
Kazi Brothers |
71,15,000 |
12. |
Fire |
BRAC Bank Ltd. |
62,89,832 |
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RE- INSURANCE ARRANGEMENTS :
For handling
insurance of technological and multi-dimensional projects, and for
Reinsurance placement in the world market we have good working
relation with TYSERS, London, Re-insurance broker of the SBC, the state
owned corporation on insurance & re-insurance. Besides, we have good
relationship with the world renowned R/I brokers . Here is a list
for some of our Reinsurers.
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Reinsurers : |
Brokers : |
| Sadharan Bima
Corporation |
Tysers & Co. Ltd.
London |
| GIC, India |
J.B Boda, Mumbai,
Malaysia |
| Best Re, Malaysia |
M.B. Boda, Mumbai |
| Labuan Re, Malaysia |
Heritage, Kolkata |
| Asian Retakaful,
Malaysia |
Birla Ins. Broker,
Mumbai |
| ACR Retakaful,
Malaysia |
Protection, Bahrain |
| Trust Re, Bahrain |
Interlink, Mumbai |
| African Re, Mauritius |
K.M. Dastar, Mumbai |
| Kenya Re, Kenya |
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We have now confidence in our technical and financial ability to underwrite big industrial or infrastructure projects. |
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Company Profile 
