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  1. 1. AUDITORS REPORT TO THE SHAREHOLDERS OF BANGLADESH GENERAL INSURANCE COMPANY LIMITEDWe have audited the accompanying Balance Sheet of the Bangladesh General Insurance Company Limited asat 31st December, 2009 and the related Revenue Accounts as well as the Profit and Loss Account, Profit andLoss Appropriation Account and Statement of cash flow for the year then ended. These financial statements arethe responsibility of the company’s management. Our responsibility is to express an opinion on these financialstatements based on our audit.We conducted our audit in accordance with BSA. Those standards require that we plan and perform the audit toobtain reasonable assurance about whether the financial statements are free of material misstatement. An auditincludes examining, on a test basis, evidence supporting the amounts and disclosures in the financialstatements. An audit also includes assessing the accounting principles used and significant estimates made bymanagement, as well as evaluating the overall financial statement presentation. We believe that our auditprovides a reasonable basis for our opinion.In our opinion, the financial statements, prepared in accordance with BAS, give a true and fair view of the stateof the company’s affairs as at 31st December, 2009 and of the results of its operations and its cash flow for theyear then ended and comply with the Insurance Act, 1938 the Insurance Rules, 1958 and other applicable lawsand regulations.We also report that:i) We have obtained all the information and explanations which to the best of our knowledge and beliefwere necessary for the purposes of our audit and made due verification thereof;ii) In our opinion, proper books of account as required by law have been kept by the company so far as it appeared from our examination of those books and proper returns adequate for the purposes of our audit have been received from branches not visited by us;iii) The company’s Balance Sheet and Profit and Loss Account and its Cash Flow dealt with by the report are in agreement with the books of account and returns;iv) The expenditure incurred was for the purposes of the company’s business;
  2. 2. v) As per section 40-C (2) of the Insurance Act, 1938 as amended, we certify that to the best of our knowledge and belief and according to the information and explanations given to us, all expenses of management wherever incurred and whether incurred directly or indirectly, in respect of Insurance business of the company transacted in Bangladesh during the year under report have been duly debited to the related Revenue Accounts and the Profit and Loss Account of the Company; andvi) As per regulation 11 of part 1 of the third schedule of the Insurance Act, 1938 as amended, we certify that to the best of our information and as shown by its books, the Company during the year under report has not paid any person any commission in any form, outside Bangladesh in respect of any of its business re-insured abroad. HOME Previous BANGLADESH GENERAL INSURANCE COMPANY LIMITED BALANCE SHEET AS AT 31ST DECEMBER - 2009 2009 2008 CAPITAL AND LIABILITIES NOTE PROPERTY AND TAKA TAKA AUTHORISED CAPITAL : 500,000,000 500,000,000 INVESTMENTS A 5,000,000 Ordinary Shares of Tk. 100/- each Shares & Deben
  3. 3. ISSUED, SUBSCRIBED AND PAID-UP CAPITAL : 2.00 417,650,400 176,970,500 Three Years Na41,76,504 Ordinary Share of Tk. 100 eachSHARE PREMIUM : 244,825,200 36,000,000The amount represents Premium received @ 100 per share against 36,000,000 36,000,000Right share issue of 3,60,000 Ordinery sahres in the year 2005Right share issue of 20,88,252 Ordinery sahres in the year 2009 208,825,200 -RESERVE OR CONTINGENCY ACCOUNTS : 134,908,999 134,408,999 INTEREST, DIVIDReserve for Exceptional Losses 10.00 130,708,999 130,208,999General Reserve 2,000,000 2,000,000Share Value Fluctuation Reserve 1,000,000 1,000,000Dividend Equalisation Reserve 1,200,000 1,200,000 AMOUNTS DUE CARRYING ON IPROPOSED DIVIDEND: 18.00 41,765,040 31,854,69010% Stock Dividend ( 1 Share for 10 Shares held ) 41,765,040 31,854,690 SUNDRY DEBTOPROFIT AND LOSS APPROPRIATION ACCOUNT 465,296 242,647TOTAL SHARE HOLDERS EQUITY 839,614,935 379,476,836 RIGHT SHARE ISBALANCE OF FUNDS & ACCOUNTS 11.00 76,283,409 54,044,237 CASH AND BAN Fixed Deposit APREMIUM DEPOSITS 12.00 8,744,462 6,907,941 STD & Current Cash & ChequeESTIMATED LIABILITY IN RESPECT OFOUTSTANDING CLAIMS WHETHER DUE OR INTIMATED 13.00 4,659,221 19,530,717AMOUNTS DUE TO OTHER PERSONS OR BODIES OTHER ACCOUNCARRYING ON INSURANCE BUSINESS 14.00 12,687,996 68,252,944 Tangible Fixed Land (Free holdLOAN FROM BANK (SECURED): 15.00 - 75,071,724 Stationery in haOverdraft From Uttara Bank Ltd. 15.01 - 51,214,780 Stamps in handLoan from BRAC Bank Ltd. 15.02 - 23,856,944SUNDRY CREDITORS 16.00 22,787,299 22,767,757PROVISION FOR TAXATION 17.00 23,057,877 16,461,628 TOTAL 987,835,199 642,513,784
  4. 4. HOME Previous BANGLADESH GENERAL INSURANCE COMPANY LIMITED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER, 2009 2009 2008 NOTE TAKA TAKA INTEREST, DIVIDEND & RENT:EXPENSES OF MANAGEMENT: (Not applicable to any Fund or Accou(Not applicable to any Fund or Account) # 18,587,542 17,824,938Advertisement & Publicity 2,377,852 1,884,096 Interest received & accruedDirectors Fees 64,000 108,000 Dividend & Debenture interestSubscriptions 608,838 685,822Audit Fees 210,000 210,000 PROFIT/(LOSS) TRANSFERRED FLegal & Professional Fees 494,277 195,800 Fire Revenue AccountDepreciation 9,562,950 10,401,517 Marine Revenue AccountInterest on Loans 4,232,888 3,773,112 Miscellaneous Revenue AccountRight Share Issue Expenses Written off 1,036,737 566,591 OTHER INCOME :BALANCE FOR THE YEAR CARRIED TO Trustee FeeAPPROPRIATION ACCOUNT 56,487,689 63,045,046 Profit on Sale of Shares Profit on Sale of Tangible Fixed Asse Rental Income BGIC Tower
  5. 5. # 75,075,231 80,869,984 PROFIT AND LOSS APPROPRIATION ACCOUNT FOR THE YEAR ENDED 31ST DERESERVE FOR EXCEPTIONAL LOSSES 10.00 500,000 13,430,923PROVISION FOR TAXATION 17.00 14,000,000 18,000,000 BALANCE BROUGHT FORWARD F PREVIOUS YEARPROPOSED DIVIDEND 18.00 41,765,040 31,854,690Stock Dividend @ 10% per Share 41,765,040 31,854,690BALANCE AT THE END OF THE YEAR AS BALANCE FOR THE YEAR BROUGSHOWN IN THE BALANCE SHEET 465,296 242,647 FROM PROFIT AND LOSS ACCOU TOTAL # 56,730,336 63,528,260 TOEARNINGS PER SHARE 21.00 20.20 27.50Note : All expenses of management wherever incurred, whether directly or indirectly, in respect of Fire, Marine and Miscellaneous Ins business transacted in Bangladesh have been fully debited in the respective revenue account as expenses. HOME Previous Next
  6. 6. BANGLADESH GENERAL INSURANCE COMPANY LIMITED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER, 2009 2009 2008 2009 2008 NOT NOT TAKA TAKA TAKA TAKA E EClaims under policies lessRe-insurance : 23,990,8 9,797,10 Balance of account at the 9,720,07 13,506,96Paid during the year 42 6 beginning of the Year 1 5Total estimated liability inrespect ofOutstanding claims at the endof the period 1,341,41 9,238,42 Premium Less Re- 59,694,6 24,300,17whether due or intimated 5 1 Insurance 01 7 25,332,2 19,035,5 57 27Less : Outstanding at the end 9,238,42 4,873,09 of previous year 1 7 16,093,8 14,162,4 36 30 34,218,7 35,258,2 Commission on Re- 36,770,0 60,378,23Agency Commission 41 90 Insurance ceded 99 7Commission on Re-InsuranceAccepted - 188,121
  7. 7. 41,579,8 51,763,7Expenses of Management 57 03Profit/(Loss) transferred to (9,585,5 (12,907,Profit and Loss Account 03) 236)Balance of account at the endof the yearas shown in the BalanceSheet : 11.0 23,877,8 9,720,07Reserve for unexpired risks 0 40 1 TOT 106,184, 98,185,3 TOT 106,184, 98,185,37 AL 771 79 AL 771 9 HOME Previous Next BANGLADESH GENERAL INSURANCE COMPANY LIMITED MARINE INSURANCE REVENUE ACCOUNT FOR THE YEAR
  8. 8. ENDED 31ST DECEMBER, 2009 2009 2008 2009 2008 NOT NOT E TAKA TAKA E TAKA TAKAClaims under policies lessRe-insurance : 9,896,02 Balance of account at the 23,939,5 25,215,5Paid during the year 0 5,921,446 beginning of the Year 31 26Total estimated liability inrespect ofOutstanding claims at theend of the year Premium Less Re- 65,671,9 59,047,4whether due or intimated 445,235 4,252,094 Insurance 21 72 10,341,2 10,173,54 55 0Less : Outstanding at the end 4,252,09 of previous year 4 1,970,138 6,089,16 1 8,203,402 11,622,9 11,577,57 Commission on Re- 6,942,55 7,777,59Agency Commission 86 2 Insurance ceded 2 0Commission on Re-InsuranceAccepted - - 18,729,0 22,568,30Expenses of Management 40 9Profit/(Loss) transferred to 33,350,6 25,751,77Profit and Loss Account 67 4Balance of account at theend of the yearas shown in the BalanceSheet :
  9. 9. 11.0 26,762,1 23,939,53 Reserve for unexpired risks 0 50 1 TOT 96,554,0 92,040,58 TOT 96,554,0 92,040,5 AL 04 8 AL 04 88 HOME Previous Next BANGLADESH GENERAL INSURANCE COMPANY LIMITED MISCELLANEOUS INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31ST DECEMBER, 2009 NO MOTO 2009 2008 NO MOTO 2009 2008 MISC. MISC TE R TAKA TAKA TE R TAKA TAKAClaims underpolicies less Re-Insurance : Balance ofPaid during the year 16,626, 4,187, 20,813 14,695 Account at the
  10. 10. 498 387 ,885 ,166 beginning of 17,541, 2,843, 20,384, 16,312 the year 424 211 635 ,960Total estimatedliability inrespect ofOutstanding claimsatthe end of the periodwhether due 1,620,7 1,251, 2,872, 6,040, Premium Less 45,867, 18,240 64,108, 50,961or intimated 35 836 571 202 Re-Insurance 995 ,552 547 ,588 18,247, 5,439, 23,686 20,735 233 223 ,456 ,368Less : Outstandingat the end of previous 4,669,7 1,370, 6,040, 6,752,year 65 437 202 880 13,577, 4,068, 17,646 13,982 468 786 ,254 ,488 10,485, 7,434, 17,919 14,429 Commission onAgency Commission 699 300 ,999 ,190 Re-Insurance 787,15 10,956 11,743, 12,103 ceded 5 ,543 698 ,988Commission on Re- 176,47Insurance Accepted - 88,362 88,362 7Expenses of 12,893, 9,028, 21,922 21,332Management 623 415 ,038 ,666Profit/(Loss)transferred to Profit 8,892,5 4,124, 13,016 9,073,and Loss Account 86 222 ,808 080Balance of accountat the end of yearas shown in theBalance Sheet :Reserve for
  11. 11. unexpired risks 11. 18,347, 7,296, 25,643 20,384 00 198 221 ,419 ,635 TO TO TA 64,196, 32,040 96,236 79,378 64,196, 32,040 96,236, 79,378 TAL L 574 ,306 ,880 ,536 574 ,306 880 ,536 HOME Previous Next BANGLADESH GENERAL INSURANCE COMPANY LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED DECEMBER 31, 2009 Share Reserve for Dividend Share General Value ProParticulars Share Capital Exceptional Equalization Premium Reserve Fluctuation Bonu Losses Fund ReserveBalance as on January 01, 2009 176,970,500 36,000,000 130,208,999 2,000,000 1,000,000 1,200,000 31,8Profit after Tax during the Year - - - - - -Bonus Share Distributed 31,854,700 - - - - - (31,8
  12. 12. Appropriation made during the - 500,000 - - - 41,7yearRight Share Issued 208,825,200 208,825,200 - - - -Balance as on December 417,650,400 244,825,200 130,708,999 2,000,000 1,000,000 1,200,000 41,731,2009 HOME Previous Next BANGLADESH GENERAL INSURANCE COMPANY LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER - 2009 2009 2008 Particulars TAKA TAKACASH FLOW FROM OPERATING ACTIVITIES:Collection from Premium & Other Income 386,668,017.00 468,199,174.00Payment for Management Expence,Re-insurance & Claims (385,770,065.00) (413,931,984.00)Income Tax Paid (7,403,751.00) (16,219,413.00)Net Cash flow from Operating Activities (6,505,799.00) 38,047,777.00CASH FLOW FROM INVESTING ACTIVITIES :Acquisition of Fixed Assets (1,366,401.00) (302,284.00)Disposal of Fixed Assets - 120,359.00
  13. 13. Disposal of Investment 100,541,112.00 (36,706,301.00)Redemption/ (Investment) in Debenture 1,828,880.00 785,008.00Investment Made (114,107,720.00) 36,739,636.00Net cash flow from Investing Activities (13,104,129.00) 636,418.00CASH FLOW FROM FINANCING ACTIVITIES:Issuance of Share Capital 208,825,210.00 26,357,300.00Share Premium Received 208,825,200.00 -Divided Paid - (26,357,310.00)Increase/(Decrease) in loan from Banks (Secured) (75,071,724.00) 3,154,691.00Net cash flow from Financing Activities 342,578,686.00 3,154,681.00Increase/(Decrease) in cash and Bank Balances (A+B+C) 322,968,758.00 41,838,876.00Cash and Bank Balances at 1 January, 2009 358,524,747.00 316,685,871.00Cash and Bank Balances at 31st December, 2009 681,493,505.00 358,524,747.00Net Operating Cash Flow per Share (NOCFPS) (3.09) 23.23Number of share used to compute NOCFPS 2,102,999 1,637,919 HOME Previous Next BANGLADESH GENERAL INSURANCE COMPANY LIMITED CLASSIFIED SUMMARY OF ASSETS AS AT 31ST DECEMBER - 2009FORM "A A"
  14. 14. Amount in Taka Book Value Book ValueSl. No. Class of Assets 2009 2008 1 National Investment Bonds 4,500,000 4,500,000 2 Debentures (Market Value Tk. 37,05,160.00) 3,705,160 5,534,032 3 Shares (Market value Tk. 10,86,42,7241.00) 87,836,790 62,716,254 4 Cash & Bank Balances 681,493,505 358,524,747 5 Stamps in hand 547,665 1,045,450 6 Accrued Interest 33,360,167 21,901,623 7 Sundry Debtors 9,268,329 10,947,710 8 Right Share Issue Expenses 4,146,948 - 9 Tangible Fixed Assets 6,509,530 6,306,927 10 Land at cost 27,590,217 27,590,217 11 Building at cost 75,592,365 83,991,517 12 Stationery in hand 1,180,695 579,434 13 Amounts due from other persons or bodies carrying on insurance business 52,103,828 58,875,873 Total 987,835,199 642,513,784 HOME Previous Next
  15. 15. BANGLADESH GENERAL INSURANCE COMPANY LIMITED CLASSIFIED SUMMARY OF ASSETS AS AT 31ST DECEMBER - 2009 BANGLADESH GENERAL INSURANCE COMPANY LTD. NOTES TO THE ACCOUNTS FOR THE YEAR ENDING DECEMBER 31, 2009 INTRODUCTI1.00 ON: "Bangladesh General Insurance Company Limited was incorporated as a public limited comapny in Bangladesh on November 01, 1984 under the Companies Act, 1913 and commenced its operation on July 29, 1985." The Company is listed in both Dhaka and Chittagong Stock Exchange as a Publicly Traded Company.1.01 NATURE OF BUSINESS: The main objectives of the company are to carry on all kinds of insurance, guarantee and indemnity business other than life insurance business.1.02 SIGNIFICANT ACCOUNTING POLICIES AND OTHER RELEVENT INFORMATION: "The Company has adopted relevent International Accounting Standards as were adopted in Bangladesh under the tittle Bangladesh Accounting Standards (BAS) with reference to1.03 disclosures of accounting policies notes to the financial statements, valuation of investment such as long term and current investments."1.04 Basis of Accounting: The accounts have been prepared on a going concern basis under Generally Accepted Accounting Principles (GAAP) in historical cost convention. Basis of Presentation:
  16. 16. 1.05 (a) The balance sheet has been prepared in accordance with the regulations as contained in part I of the First Schedule and as per Form ‘A’ as set forth in part II of that Schedule and the Revenue Account of each class of business has been prepared in accordance with the regulations as contained in part I of the Third Schedule and as per Form ‘F’ as set forth in part II of that Schedule of the Insurance Act, 1938. (b) Accounts have been prepared following consistant basis. (c) Figures have been rounded off to the nearest Taka. (d) Last year’s figures have been re-arranged wherever necessary to conform to current year’s presentation. Fixed Assets:1.06 Fixed Assets are stated at cost less accumulated depreciation. Fully depreciated assets are carried in the books at nominal value of Tk. 1.00 for the purpose of identification. Depreciation on Fixed Assets:1.07 Depreciation on Tangible Fixed Assets are charged on diminishing balance method at rates varying from 10% to 20% depending on the estimated useful life of the Assets. No depreciation has been charged on Land. Depreciation on additions to Fixed Assets are charged for the full year irrespective of the date of acquisition of Assets and no depreciation is charged in the year of disposal of assets. Public Sector1.08 Business: The Companys share of Public Sector business for the period from 1st July, 2008 to 30th June, 2009 received from Sadharan Bima Corporation has been incorporated in the Companys account for the year ended 31st December, 2009. This system of accounting of public sector business is being followed consistently. Premium1.09 Income: The total amount of premium earned on various classes of insurance business underwritten during the year, the gross amount of premium earned against various policies, the amount of re-insurance premium due to Sadharan Bima Corporation, the amount of re-insurance commission earned and the amount of claims less re-insurance settled during the year have all been duly accounted for in the books of account of the company and while preparing the final statements of accounts, the effect of re-insurance accepted and re-insurance ceded as well as the effect of total estimated liabilities in respect of outstanding claims at the end of the year whether due or intimated have also been duly reflected in the accounts in order to arrive at the net underwritting profit for the year. Interest on Statutory and Other1.10 Investments:
  17. 17. Interest accrued on statutory investment of Tk. 45.00 lacs lying with Bangladesh Bank in the form of National Investment Bond (NIB) and interest received from banks on STD and FDR accounts have been duly credited to the Profit and Loss Account. Loss or Gain on Sale of Shares1.11 and Debentures: Loss or Gain on sale of shares and debentures and dividend income during the year have been shown in the Profit and Loss Account and the tax relief as well as the concession rate of tax as availed under the existing income tax law have been given effect in the accounts. Management1.12 Expenses: Management expenses as charged to Revenue Accounts and amount of Tk. 82,230,935 is approximately 22.77% of gross premium of Tk. 361,188,348. The expenses have been apportioned 50.56% to Fire, 22.78% to Marine and 26.66% to Miscellaneous business as per management decision. Provision for1.13 Unexpired Risks: Before arriving at the surplus of each class of business necessary provision for un-expired risk have been created at the rate of 40% on all business except on Marine Hull business for which the provision was made @ 100% of the total for the year 2009. Reserve for1.14 Exceptional Loss: Reserve for Exceptional Losses as appropriated out of current years profit before tax amounts to Tk.5,00,000. Outstanding1.15 Premium: The outstanding premium appearing in the accounts represents only the amount which relates to the accounting period in the fprm of cash and cheques in hand in line with the system followed by the company. 1.16Going Concern: The financial statements of the entity have been prepared by the management considering the entity as a going concern and the entity is optimistic to continue its business operation for the foreseeable future. More so, the company has earned a good amount of profit and in line with that the company has proposed for payment of Stock dividend @ 10% during the year under audit in the form of bonus shares as against the payment of dividend @ 18% (bonus shares) in the last year. Use of1.17 Estimate:
  18. 18. Preparation of financial statements in conformity with International Accounting Standards (IAS) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contigent assets and liabilities if any at the date of the financial statements, and revenues and expenses during the year reported. Actual result could differ from those estimates. Estimates are used in accounting for certain items such as depreciation, outstanding claims, taxes reserves etc. Basis of recognition of Income in respect of Premium Deposits:1.18 Amounts received against Cover notes, which have not been converted into policy are recognised as Income at the earlier of Cover notes converted into policy or expiry of period not exceeding six months in accordance with the Controller of Insurance Circular. Loan from 1.19Banks: Bank loan has been fully repaid during the year. Investment in Shares1.20 and Debenture: The company has invested total amount of Tk. 96,041,950 in the share market which have been valued at cost and presented in the financial statements attatched to the report. Contingent1.21 Liabilities: The Company has a total amount of Tk. 21,467,182 towards contigent liabilities relates gurantee and other liabilities with the different bodies/parties as on the date of the Balance Sheet. General:1.22 (i). Provision for Income Tax has been made in accordance with the best estimate of the management based on the prevailing Income Tax Law. (ii). During the year interest on investment in FDR, National Investment Bonds (NIB) and Debentures have been accounted for as income on accrual basis. 2.00 ISSUED, SUBSCRIBED AND Tk. PAID UP CAPITAL : 417,650, 400 This is made up Amount in Taka as follows : 2009 2008 600,000 Ordinary shares of Tk. 100/- each called and paid up in full. 60,000,00 60,000,0
  19. 19. 0 00120,000 Ordinary shares of Tk. 100/- each fully paid up as bonus shares issued during theyear 1997. 12,000,00 12,000,0 0 00144,000 Ordinary shares of Tk. 100/- each fully paid up as bonus shares issued during theyear 2005. 14,400,00 14,400,0 0 00183,600 Ordinary shares of Tk. 100/- each fully paid up as bonus shares issued during theyear 2006. 18,360,00 18,360,0 0 0098,532 Ordinary shares of Tk. 100/- each fully paid up as bonus shares issued for the year2007. 9,853,20 9,853,200 0263,573 Ordinary shares of Tk. 100/- each fully paid up as bonus shares issued for the year2008. 26,357,30 26,357,3 0 00318,547 Ordinary shares of Tk. 100/- each fully paid up as bonus shares issued for the year2009. 31,854,70 - 0RIGHT SHARES :360,000 Ordinary Shares of Tk. 100/- each as Right Shares issued during the year 2005. 36,000,00 36,000,0 0 002,088,252 Ordinary Shares of Tk. 100/- each as Right Shares issued during the year 2009. 208,825,2 - 00 Total 417,650,4 176,970, 00 500(a) Category ofShare Holders :Category of Shareholders Number of Share Percentage of HoldingSponsorDirectors :Mr. Towhid 4.31%
  20. 20. Samad 179,812Mr. ASM 2.36%Shahidullah Khan 98,730Mr. SayeedHossain 2.99%Chowdhury 125,009Mr. Salim 3.34%Bhuiyan 139,544Mr. FMAB 1.68%Siddique 70,356Mr. Ragib Ali 1.88% 78,666Mr. Mosahid Ali 1.41% 58,890Mr. A Sattar 0.97% 40,682Mr. Salim Ahmed 0.83% 34,802Mr. A. Z 0.69%Humayun 29,018 Sub Total : 20.48% 855,509Public Directors:Mr. Saleh Ahmed 0.12% 4,914Mr. Aftab Alam 0.04% 1,856Mr. Mahmud 0.08%Hasan 3,322Mr. Noor Alam 0.45% 18,900Mr. Sohail 0.77%Humayun 31,962 Sub Total : 1.46% 60,954
  21. 21. IndependentDirector :Mr. Mozibar 0.00%Rahman - Sub Total : 0.00% -FinancialInstitutions:ICB 10.77% 449,909Financial 14.56%Institutions 608,134Foreign Investors 0.00% -General Public 52.72% 2,201,998 Sub Total : 78.06% 3,260,041GRAND TOTAL: 100.00% 4,176,504(b) Classification ofShareholders by holdings: NUMBER NUMBER OF Class interval OF SHARE PERCENTAGE OF TOTAL SHARE HOLDING SHARES HOLDERSLess than 500shares 870,484 11,261 20.84%501 - 5000 658,734 498 15.77%5001 - 10000 226,322 32 5.42%10001 - 20000 315,190 21 7.55%20001 - 40000 543,748 20 13.02%40001 - Above 1,562,026 20 37.40% TOTAL : 4,176,504 11,852 100.00%INVESTMENTSAT COST : Tk.
  22. 22. 3.00 96,041,95 0 This is made up as follows : 2009 2008 At cost At cost Shares & Market Price Market Price Amount Amount(T Amount( Debentures Amount (Tk.) (Tk.)3.01 k.) Tk.) Investment in 62,716,25 shares 108,642,241 87,836,797 82,188,537 4 Investment in debentures 3,705,160 3,705,153 5,534,040 5,534,032 68,250,28 112,347,401 91,541,950 87,722,577 6 National Investment3.02 Bonds(NIB) at cost 4,500,000 4,500,000 4,500,000 4,500,000 Total : 72,750,28 96,041,950 6 INTEREST, DIVIDEND & 33,360,164.00 RENT OUTSTANDING: Tk. 7 This is made up Amount in Taka as follows : 2009 2008 Accrued Interest 18,537,36 on FDRs 29,509,381 3 Accrued Interest on Debenture 3,085,786 2,981,760 Accrued Interest on NIB 765,000 382,500 21,901,62 Total : 33,360,167 3
  23. 23. AMOUNTS DUE FROM5.00 OTHER PERSONS OR BODIES CARRYING ON 52,103,82 INSURANCE BUSINESS: Tk. 8 These represent the amount receivable from insurance companies on account of co-insurance premium and claim at December 31, 2009. The balances remain unconfirmed. This is made up as follows : Amount in Taka 2009 2008 Amount due from SBC 5,977 5,548 Co-Insurance Premium 57,549,74 receivable 50,537,887 5 Co-Insurance Claim recoverable 1,559,964 1,320,580 58,875,87 Total : 52,103,828 3 SUNDRY6.00 DEBTORS : Tk.9,268,330 This is made up as follows: Amount in Taka 2009 2008 Advance Rent 4,091,183 3,941,261 Advances Salary 608,391 848,637 Advances for Car Lease 424,979 424,979 Other Advances 2,175,114 3,613,857 Security deposit 836,000 836,000 House Building 1,282,976
  24. 24. Loans to Staff 1,132,663 10,947,71 9,268,330 0 RIGHT SHARE ISSUE EXPENSES : 7.00 Tk. 4,146,948 Total Right Share Issue Expenses amounts to Tk. 5,183,685. This amount is being written off equally over five years. Amount in Taka 2009 2008 Total Right Share Issue Expenses. 5,183,685 566,591 Less: Written off in 2009 (1,036,737) (566,591) Balance Carried forward 4,146,948 - CASH AND BANK BALANCES : 681,493,5 8.00 Tk.05 This is made up as follows: Amount in Taka 2009 2008 Fixed Deposits 344,015,00 191,190,08.01 with Banks 0 00 STD & Current Accounts with 292,551,49 133,150,28.02 Banks 4 31 Cash & Cheques 34,184,518.03 in hand 44,927,011 6 681,493,50 358,524,7 5 47 TANGIBLE FIXED ASSETS (AT COST Tk. LESS DEPRECIATION) : 82,101,8 9.00 95
  25. 25. Amount in Taka Particulars Furniture, Electric Motor & Other Office Fixture & Sundry Assets Building Total Equipments Vehicles Equipments Fittings Cost: Balance as on 01.01.2009 93,323,90 122,181, 7,841,412 5,230,225 6,822,165 5,065,687 3,897,918 8 315 Additions during the year 1,366,40 303,724 280,997 119,500 662,180 - - 1 Disposal during - the year - - - - - - Balance as on 31.12.2009 8,145,136 5,511,222 3,897,918 93,323,90 123,547, 6,941,665 5,727,867 8 716 Depreciation: Balance as on 01.01.2009 31,882,8 5,914,387 4,228,391 5,170,478 4,054,810 3,550,295 8,964,510 71 Charge during the 9,562,95 year 223,075 192,425 427,814 250,959 69,525 8,399,152 0 Disposal during the year - - - Balance as on 17,363,66 41,445,8 31.12.09 6,137,462 4,420,816 5,598,292 4,305,769 3,619,820 2 21 Written down value as at December 31, 75,960,24 82,101,8 2009 2,007,674 1,090,406 1,343,373 1,422,098 278,098 6 95 Balance as on 84,359,39 90,298,4 31.12.2008 1,927,025 1,001,834 1,651,687 1,010,877 347,623 8 44 LAND (FREE Tk. HOLD) AT COST 27,590,29.01 : 17
  26. 26. The above amount represents the value of the remaining 7.5875 kathas of land valued at cost amounting to Tk. 27,590,217 in the name of the Company. RESERVE FOR 130,708,10.00 EXCEPTIONAL LOSSES : Tk. 999 This is made up as follows : Amount in Taka 2009 2008 116,778, Opening balance 130,208,999 076 Addition during 13,430,9 the year 500,000 23 130,208, Closing balance 130,708,999 999 An amount of Tk.5,00,000 has been set aside during the year to meet exceptional losses as per rules for computation of profits and gains as prescribed in the 4th schedule of the Income Tax ordinance,1984. BALANCE OF FUNDS & 76,283,411.00 ACCOUNTS : Tk. 09 This amount is made up as follows : Amount in Taka 2009 2008 Fire Insurance 9,720,07 Fund Account 23,877,840 1 Marine Insurance 23,939,5 Fund Account 26,762,150 31 Miscellaneous Insurance 20,384,6 Fund Account 25,643,419 35 54,044,2 76,283,409 37
  27. 27. Balance of fund and accounts / Reserve for unexpired risks has been made on premium income at the following rates: Fire 40% Marine Cargo 40% Marine Hull & Aviation Hull 100% Motor & Miscellaneous 40% PREMIUM 8,744,4612.00 DEPOSITS: Tk. 2 Balance on this account represents premium received against cover notes for which risks had not been initiated within December 31, 2009. ESTIMATED LIABILITY IN RESPECT OF OUTSTANDING CLAIMS13.00 WHETHER DUE OR INTIMATED : 4,659,22 Tk. 1 This amount is made up as follows : Amount in Taka 2009 2008 9,238,42 Fire 1,341,415 1 4,252,09 Marine 445,235 4 6,040,20 Miscellaneous 2,872,571 2 19,530,7 4,659,221 17 All the claims of which the management is aware of as per intimation up to the year end have been taken into consideration while estimating this net liability in respect of outstanding claims. AMOUNTS DUE TO OTHER PERSONS OR BODIES CARRYING ON INSURANCE BUSINESS: Tk.
  28. 28. 14.00 12,687,9 96 This represents the amount payable to Sadharan Bima Corporation and other re-insurer and private sector insurance companies on account of re-insurance and co-insurance premium at December 31, 2009. This is made up as follows : Amount in Taka Re-insurance payable to Sadharan Bima Corporation 2009 2008 Co-insurance premium payable 58,372,8 4,700,915 34 9,880,11 Total 7,987,081 0 68,252,9 12,687,996 44 LOAN FROM BANKS (SECURED):15.00 Tk. - This is made up as follows : Amount in Taka 2009 2008 OVERDRAFT FROM15.01 UTTARA BANK LTD. : 51,214,7 - 80 The overdraft from Uttara Bank Ltd. Banijya Shakaha, Dilkusha, Dhaka carries interest @ 11% per annum secured against Lien of FDRs. Bank loan has been fully repaid during the year. LOAN FROM BRAC BANK15.02 23,856,9 LTD. : - 44 The loan from BRAC Bank Ltd. Gulshan Branch, Dhaka carries interest @ 12.50% per annum secured against lien of FDRs. Bank loan has been fully repaid during the year - 75,071,7 24
  29. 29. 16.00 SUNDRY 22,787,2 CREDITORS: Tk. 99 This is made up as follows : Amount in Taka 2009 2008 Creditors for 1,505,62 Expenses 14,411,132 6 2,895,61 Unpaid Dividend 3,351,883 8 Trade & Other 18,366,5 Creditors 5,024,284 13 22,767,7 22,787,299 5717.00 PROVISION FOR 23,057,8 TAXATION: Tk. 77 This is made up as follows : Amount in Taka 2009 2008 14,681,0 Opening Balance 16,461,628 41 Add : Provision 18,000,0 for the year 14,000,000 00 32,681,0 30,461,628 41 Less: Payments/adjustment (3,378,1 during the year (2,175,114) 17) Less: Previous years Tax Paid (5,228,637) (12,841,
  30. 30. 296) 16,461,6 Closing Balance 23,057,877 2818.00 PROPOSED 41,765,0 DIVIDEND : Tk. 40 The Board of Directors has recommend Stock Dividend @ 10% per ordinary share (10 shares for 100 shares held) on the paid up capital of Tk. 417,650,400.00 The rate of dividend in the last year was Stock Dividend @18% per ordinary share (18 shares for 100 shares held) on the paid of capital of Tk. 176,970,500.00. INTEREST RECEIVED & 22,968,119.00 ACCRUED: Tk. 15 This is made up as follows: Amount in Taka 2009 2008 Interest on National Investment Bonds & Others 551,330 382,500 16,721,9 Interest on FDRs 19,634,886 64 Interest on STD 1,309,59 Accounts 2,781,899 5 18,414,0 Total : 22,968,115 5920.00 DIVIDEND & DEBENTURE INTEREST: Tk. 890,942 This is made up as follows: Amount in Taka 2009 2008 Dividend on Shares (Gross) 485,116 677,852 Interest on Debentures 405,826
  31. 31. (Gross) 400,000 1,077,85 890,942 2 EARNING PER Tk. SHARE:21.00 20.20 Earnings per share as shown in the face of the Profit and Loss Account is calculated in accordinace with Bangladesh Accounting Standard 33: "Earning Per Share". This is made up as follows: Amount in Taka 2009 2008 Net Profit Before 63,045,0 Tax 56,487,689 46 Number of Share (Weighted 1,637,91 Average Number) 2,102,999 9 Earning Per Share Before Tax 26.86 38.49 Net Profit After 45,045,0 Tax 42,487,689 46 Number of Share (Weighted 1,637,91 Average Number) 2,102,999 9 Earning Per Share After Tax 20.20 27.50 NUMBER OF EMPLOYEES DRAWING ANNUAL REMUNERATION BELOW AND ABOVE TK. 36,000.0022.00 The number of permanent employees engaged for the whole year who received total annual remuneration of Tk. 36,000.00 and above was 320 and below 36,000 p.a. is none. CONTINGENT LIABILITIES23.00 There are contingent liabilities aggregating to Tk. 21,467,182 for Guarantees and Other liabilities. EXPENSES INCURRED / EARNED IN FOREIGN CURRENCY :
  32. 32. 24.00 The Company did not incur any expenses nor earned any income in foreign currency on account of royalty, technical expert, professional Advisory fee and interest, etc.25.00 COMMITMENT ON CAPITAL EXPENDITURE : There is no Capital Expenditure commitment entered into by the Company during the year under audit. NET ASSETS VALUE:26.00 The offer price of the common stock of BGIC has been determined on the basis of net assets value, the break up is given below: Amount in Taka 2009 2008 A. Assets: Investments at Cost 96,041,950 72,750,2 86 Interest, Dividend & Rent 33,360,167 21,901,6 Outstanding 23 Amount due from Other Persons or Bodies Carrying on Insurance Business 52,103,828 58,875,8 73 Sundry Debtors 9,268,329 10,947,7 10 Right Share Issue Expense 4,146,948 - Cash and Bank Balance 681,493,505 358,524, 747 Other Accounts 111,420,472 119,513, 545 Total Assets 987,835,199 642,513, 784 B. Liabilities:
  33. 33. Balance of Funds & Accounts 76,283,409 54,044,2 37 Premium Deposits 8,744,462 6,907,94 1 Estimated Liabilities in Respect of Outstanding 4,763,221 19,530,7 Claims 17 Whether Due or Intimated Amount due to Other Persons or Bodies Carrying on Insurance Business 12,687,996 68,252,9 44 Loan from Banks (secured) - 75,071,7 24 Sundry Creditors 22,683,299 22,767,7 57 Provision for Taxation 23,057,877 16,461,6 28 Total Liabilities 263,036, 148,220,264 948 Net Assets (A-B) 839,614,935 379,476, 836 Number of Weighted Average Shares Outstanding During the Year 2,102,999 1,769,70 5 Book Value Per Share 399.25 214.4327.00 RELATED PARTY TRANSACTIONS : There is no related party transaction during the year.
  34. 34. HOME PreviousABOUT BGICEstablished in 1985 as the first general insurance company in private sector, BGIC has sincedeveloped substantially with all the strengths and details prudently essential of an insurancecompany.
  35. 35. FOUNDER
  36. 36. Late Mr. M. A. Samad founded BGIC in 1984 soon after he retired as Managing Director ofJiban Bima Corporation. more details CHAIRMANThe Chairman of BGIC, Mr. Towhid Samad, a well-known businessman and social personality isan Economics (Hons.) graduate of Dhaka University and a Master’s degree holder in Economicsfrom Karachi University.An innovative industrialist in the hosiery sector, he is a founder director of BGIC. He is also thefounder trustee and currently the chairman of the Education, Scientific Technology and culturalDevelopment Trust, which is the founder of the Independent University, Bangladesh. Mr. Samadwas also elected and had served as the President of Dhaka Club Ltd.
  37. 37. MANAGEMENT
  38. 38. Managing Director:Mr. A. K. Azizul Huq Chaudhuri is a widely recognised insurance expert at both home & abroad.He obtained Fellowship (FCII) from the world famous Chartered Insurance Institute of Londonand also did his Diploma in Office Management from Glasgow University.Apart from this hewas trained on insurance and reinsurance for long three years in Europe under the “OverseasStudents Training Scholarship” of the Chartered Insurance Institute of London. During the activeprofessional career in insurance for over 3 decades, Mr. Chaudhuri was General Manager andManaging Director of Sadharan Bima Corporation and Director of the Bangladesh InsuranceAcademy. He is also a Fellow of the Federation of the Insurance Institute of India (FFII) and anoverseas Fellow of the Economic Development Institute of the World Bank, Washington. A
  39. 39. distinguished insurance expert of international repute Mr. Chaudhuri represented Bangladesh invarious international insurance forums. He is a prolific writer and the author of an insurance textbook. Mr. Chaudhuri is a recognised insurance expert under UNDP.Additional Managing Directors (Operations):Additional Managing Directors (Operations) Mr. Ahmed Saifuddin Chowdhury started his careerwith BGIC from 1986 just immediately after completing his post graduate studies. He joinedBGIC as a junior officer at Head Office, Dhaka in 1987. By dint of his merit, talent andefficiency he has gathered vast knowledge and experience on Underwriting, Accounts &Finance, Administration, Branch Control, Re-insurance, Claim and Marketing. He has excellentsocial affiliation. Before joining as Additional Managing Director (Operations), he was workingin BGICs Zonal Office, Chittagong as Deputy Managing Director. He is an M.Com inManagement with Honours from Chittagong University and MBA from Southern University,Bangladesh.Additional Managing Director (Marketing):BGIC’s Addtitional Managing Director (Marketing) Mr. Kazi Mokaddas Masum joined theCompany as a Junior Development Officer way back in 1986 around the same time when BGICstarted operating as the first General Insurance Company in the private sector. By dint of his ownmerit he has risen to such a coveted position of the Company.He is an M. Sc. in Physics with Honours from Rajshahi University.MANAGEMENTConsultants:BGICs Management has been enriched with the association of two highly acclaimed experts.They are Mr. Anisuz Zaman Chowdhury and Mr. Khorshed Alam. . Mr. Anisuz ZamanChowdhury had his C.A. degree from London in 1964 and is admitted as an Associate Member(ACA) of the Institute of Chartered Accountants in England & Wales. He is also admitted asF.C.A., a Fellow of the Institute of Chartered Accountants in England & Wales in 1975. He hasserved a number of internationally reputed Chartered Accounts Firms and is widely experiencedin investments and in share market. Mr. Khorshed Alam is a retired Senior Civil Servant and aformer Governor of Bangladesh Bank. He was also Finance Secretary, Govt. of the PeoplesRepublic of Bangladesh. Mr. Khorshed Alam is widely known in the business circle andrespected.Auditors:M/s. Habib Sarwar & Co.Chartered AccountantsEastern Commercial Complex73, Kakrail, Dhaka-1000MANAGEMENTChairman Mr. Towhid Samad
  40. 40. Managing Director Mr. A. K. Azizul Haq chaudhuri, FCII ( London)Additional Managing Director ( Operations) & Mr. Ahmed Saifuddin ChowdhuryCompany SecretaryAdditional Managing Director ( Marketing) Mr. K. M. MasumPrincipal Adviser Mr. Khorsed AlamFinancial Consultant Mr. Anisuzzaman Chowdhury, FCAGeneral Manager & CFO Mr. Chowdhury Md. Abu SayeadGeneral Manager ( Underwriting) Mr. Md. Imral RoufGeneral Manager ( Claims & Re-Insurance) Ms. Rashida Banu.General Manager ( Admin & Personnel) Mr. Tapan MahmudDeputy General Manager( Share & Investment): Mr. Md. MustafaDeputy General Manager ( Development & Co- Mr. Md. Eqbal AliOrdination)Deputy General Manager ( Lagal Affairs & Mr. K. M. AzimullahEstate)Deputy General Manager ( Internal Audit) Mr. Md. Manik MiahDeputy General Manager ( Re-Insurance) Ms. Nagma HossainDeputy General Manager ( Branch Control) Mr. Md. Abdul Mazid Khan FOUNDERLate Mr. M. A. Samad founded BGIC in 1984 soon after he retired as Managing Director of Jiban Bima Corporation. He became BGICs first Managing Director. In addition to this, in 1990, he was elected theChairman of the Board of Directors of BGIC. He servedthe Company as Chairman cum Managing Director until July 2003 when he voluntarily retired as Managing Director and continued as the Chairman until his death in 2005.Mr. Samad was born in an distinguished family of Sylhet in 1923. He had an exceptionalacademic career which culminated at his graduation with honors from the renowned PresidencyCollege, Kolkata, India.During his illustrious career in insurance stretching into six decades, Mr. M A Samad workedas the Chief Agent and Manager for East Pakistan for Commercial Union Insurance CompanyUnited Kingdom, as Life Manager, Great Eastern Insurance Company, General Manager,Federal Life General Insurance Company, Chairman, Surma Jiban Bima Corporation, and
  41. 41. Managing Director, Jiban Bima Corporation.Mr. Samads dedication to Insurance perhaps mostly reflected in his never-ending desire toimpart Insurance education. In this regard, he attended Chartered Insurance Institute TrainingCourses in London; visited many important Insurance Training Institutions and InsuranceDepartments of different Universities in UK and USA under UNDP Fellowship Program;attended Seminar on Insurance Administration at Manila under UNCTAD/UNDP Project,attended many Annual Conference of the Federation of Insurance Institutes of India. next page
  42. 42. BGICs BackgroundBangladesh general insurance company Ltd. or"BGIC Ltd". is the first general insurancecompany in Bangladesh in the private sector.BGIC was incorporated as a public limitedcompany and started business on 29 july, 1985with an authorised capital of Tk. 100 milliondivided into 1,000,000 ordinary shares of Tk. 100each. The company runs the business operationunder the supervision of board of Director andlegal frame work of the insurance Act, 1938 andthe insurance rules,1958 as a amended from timeto time. Its initial paid up capital was Tk 30million. In May 1989, the companys paid upcapital was increased to Tk. 60 million byoffering Tk.30 million worth of share for publicsubscription, the paidup capital was increased toTk. 72 million in 1998, and by December 2008,BGICs paid up capital stood at Tk. 176.97million. BGIC is listed with both Dhaka andchittagong stock exchanges. In december 2008,the numbers of shareholders of the company was7,708, who held 1,769,705 shares. BGIC hassince developed sbustantially with all thestrengths and details prudently essential of aninsurance company. It is primarily sraffed withprofessionals of longest experience, qualifiedinsurance technocrats of highest order ofinternational repute and a team of highlyeducated and skilled personnel of commendablestatus. The equity structure of the company wascarefully selected, not only for the financialbenefit, but to support the growth of a dynamiccompany with the goal a major player both in thedomestic and international insurance markets.The company ownership is prudently distributedto sponsor Director 22.94%, public Director1.64%, Institutions 14.67% and 60.75% Generalpublic shareholders.BGICs VisionTo transform the company into an idealinsurance company, with larger growing equity
  43. 43. base, that will provide more opprotunities andoptions for utilization of funds in a prudentmanner and help to increase profitability througheconomy of scale, better resource mobilizationand reduction in operational costs, to providebetter services to our clients and policy holdersand to promote the confidence of bothshareholders and policy holders. next pageBGICs Mission To provide excellent services, best risk management, prompt settlement of claims. To expand nation wide branch network of the company, induct and build,
  44. 44. a sound and dynamic team. To ensure good governance, for sustainable and equitalbe and equitable growth and prosperity of the company. To provide more benefits to staffs, share holders and policy holders.BGICs Objectives Make affordable insurance accessible to all Keep customer as focal point for all operations Adopt best inernational practices in claims, underwriting and policy servicing Be the most innovative in product development Establish pan bangladesh presenceBGICs Value propositionsRisk Evaluation: Provide expertise in riskevaluation and risk mitigation leading to the mostappropriate risk transfer solution.Post Sales services: Differentiate on serviceparameters by ensuring prompt and correctdocumentation and fair, transparent and speedyclaims settlement.New Products: Introduce innovative productssuited to specific market segments.BGICs Value propositionsTraining: Extensive teaining to the employeesinvolved in underwriting and claims to ensure
  45. 45. availability if a varied experienced and competent team to cater to the customer needs. Technology: Use IT as a means to provide for a far superior customer experience in terms of access, speed and simplicity. Reinsurance Banking: Apart from using capacity of the national reinsurer, establish relationships with the best reinsurers across the world. BGICs Foundation: We Believe in..... Principles: To guide and counsel us in everything we do through knowledge management Trust: To forge stronger, longer-lasting relationships with the customers Integrity: In our dealings with customers and business partners Excellence: In everything we do for the betterment of our customers and business partners Professionalism: In serving customers and working with business partners Innovativeness: To continually provide relevant products and services with changing business environmentINSURANCE SERVICES
  48. 48. Dhaka Zonal Office 42, Dilkusha C/A, Dhaka-1000, Bangladesh. Phone: 9564213, 9550379, 9564731, 9555073-74, 9563056, 9566125.Mohakhali Branch 94, Mohakhali C/A, dhaka. Tel: 02-9886883 Cell: 01818012416.Uttara Branch House# 2A, Rd# 2B, Sonargaon Janapath, Uttara, dhaka - 1230. Phone: 02-7911772.Chittagong Zonal Office Jiban Bima Bhaban, 56, Agrabad C/A, Chittagong, Phone: 721527, 714853, Bgic@spctnet.comKhatungonj Branch Ambia Plaza, 11, Bandel Road, Bakshir Hat, Ctg, Phone:
  49. 49. 619807Jubilee Road Branch Khawja Tools Market, 188/A, Jubilee Road, Chittagong, Phone: 616034, Bgic_cjr@spctnet.comKhulna Zonal Office 6, P. C. Roy Road, Khulna, Phone: 724853Kushtia Branch Lovely Tower, 55/1, Serajuddoula Rd, Khushia, Phone: 62077Jessore Branch 36, M. K. Road, Jessore, Phone: 66495Imamgonj Branch 38, Mitford Road, Dhaka, Phone: 7319723Narayangonj Branch 16/2, S. M. Maleh Road, Tanbazar, Narayangonj, Phone: 7632544Sylhet Branch Modhu Ban Super Market (4th Floor), Bandar Bazar, Sylhet, Phone: 714513Bogra Branch Jautala Pukur Par, Bogra, Phone: 66460, 51364Rangpur Branch Chowdhury Mansion, 22, Central Road, Rangpur, Phone: 63725Feni Branch Trunk Road, Feni, Phone: 74767Rajshahi Branch Saheb Bazar, Sonar Patty, Rajshahi, Phone: 774367Mymensingh Branch B.M.A. Bhaban, Abul Monsur Road, Mymensingh, Phone: 54092Barisal Branch Air Arked Bhaban, 95, Sadar Road, Barisal, Phone: 52917Sreemangal Branch Masjid Building, College Road, Sreemangal, Phone: 71089, 71090Dinajpur Branch Lok Bhaban, Munshi Para, Dinajpur, Phone: 63480Naogaon Branch Chakdev, Sadar Road, Naogaon, Phone: 62650Narsingdi Branch Madhabdi Bazar, Narsingdi, Phone: 01199088922, 01199004339Saidpur Branch Amin Plaza (1st Floor), Shid Dr. Zikrul Huq Rd, Saidpur, Phone: 2822Comilla Branch Suravi Mansion, Nazrul Islam Road, Kandirpar, Comilla, Phone: 62859, 01711113737Chandpur Branch Sheikh Mansion, Comilla Road, Chandpur, Phone: 65635
  50. 50. BGIC Major Client List
  51. 51. National OrganizationsAbul Khair Group Meridion GroupBRAC Bank Ltd. Monno Group of Industries.B. R. B. Group. Mohamodi GroupDoreen Power Generation of Systems Mongla Cement FactoryLtd.East West Industrial Park Nassa GroupEnvoy Group Nasir Group of Industries Ltd.Energypac Confidence Power Venture One BankLtd.Elite Chemical Industries PHP Group
  52. 52. Evince Group Rahimafrooz (BD) Ltd.Far Ciramic Indts Ltd. Robin Tex Ltd.Globe Janakantha Shipa Paribar Standard Chartered BankHaque & Company Ltd. Shanta GroupH.R.C. Group Southeast BankHSBC Bank Uttara Group Indt.Jaya Group Urmi Group Multi-NationalsAsia Plastic Bangladesh Ltd. Organon Bangladesh Ltd.Bloosm Textile mills Ltd. Pacific Telecom Bangladesh Ltd.British American Tobacco (BD) Ltd. Renata International Ltd.BSRM Ltd. Shine Fashion Ltd.Cellular Mobile (Pvt.) Ltd. Singer Bangladesh Ltd.GEC(BD) Ltd. Sonargaon & Sheraton Hotel InternationalHomebound Ltd. TM International Ltd.L.M. Ericsson BD. Ltd. (Sonny) Unilever (BD) Ltd.M. Z. Mobile Zone Woori Bank Ltd. More Client List BGIC Major Client List
  53. 53. Multi-NationalsBerger Paints Ltd. Reckitt Benckiser (Bangladesh) Ltd.Fu-Wang Ceramic Industry Sgwicus (Bangladesh) Ltd.Mitsubishi Corporation. Shimizu Corporation. Foreign MissionsEmbassy of the USSR, International Monetary FundEmbassy of the Peoples Republic of The Consulate of the Republic ofChina, Singapore.
  54. 54. Embassy of the Republic of Korea, The Polish Peoples Republic of Poland Embassy of the Federal Republic of World Bank Germany Embassy of the Royal Kingdom of Saudi Arabia Sadharan Bima Sadan 33, Dilkusha C/A Dhaka Bangladesh. - Sadharan Bima Tel: 9566108-9, 9566105-6 Corporation Website : Sadharan Bima Corporation Agrani Insurance Company Ltd. Head Office Moon Mension (6th floor) - Agrani Insurance 12 Dilkusha C/A, Company Limited. Dhaka - 1000, Bangladesh. Head Office Green White Bhaban, 28, BB Avenue, Asia Pacific General Dhaka-1000 , Bangladesh. Tel: 88-02-9551388, 9555338, 7160745Insurance Company Ltd. Fax: +88-02-9558125 E-mail: apgic@ Website : www.apgicl.comBangladesh Co-operative - - General Insurance Ltd. Head Office : Bangladesh General Insurance Bangladesh General Insurance Co. Ltd. Co. Ltd. Established in 1985 as 42, Dilkusha C/A Motijheel the first general insurance Dhaka - 1000, Bangladesh. company in private sector. BGIC Tel. : 9555073-4, 9563056-8 has dedicated professional Fax. : +88-02-9564212 management team supported by Bangladesh General Email : highly trained staff who can offer Insurance Co. Ltd. sound and reliable advice on risk management Web page : INSURANCE SERVICES :
  55. 55.  Fire and Allied Insurance.  Industrial all risk, including business interruption Insurance. Read more Insurance services of Bangladesh general insurance company. Bangladesh National - - Insurance Co. Ltd.Central Insurance Co. Ltd. - -City General Insurance Co. - - LtdEastern Insurance Co. Ltd - -Federal Insurance Co. Ltd - - Head Office: Hadi Mansion (4th floor) 2, Dilkusha C/A,Dhaka-1000Green Delta Insurance Co. Bangladesh. PABX: 9560005,9567760-62 - Ltd FAX: 9562345 Email: Website : Green Delta Insurance Co. LtdJanata Insurance Co. Ltd - -Karnafully Insurance Co. - - LtdMeghna Insurance Co. Ltd - -Mercantile Insurance Co. - - Ltd Nitol Insurance Co. Ltd. is a Corporate Office : Public Limited General Nitol Insurance Co. Ltd. Insurance Company established Nitol Centre (5th Floor) in the year 1999 to transact 71, Mohakhali C/A, General Insurance Business in Dhaka-1212. Nitol Insurance Co. Ltd. Tel. : 8857247-8, 8853084, 8834321 the private sector. Fax. : 8802-8826184 Email : nitolins[at], info[at]  Fire Insurance ( damage Web page : of properties , machineries etc. )