Company Profile

Pioneer Insurance Company Limited, sponsored & founded in 1996, is a publicly traded company by shares having authorized capital of Tk. 1 (One) Billion/USD 12.50 Million  & paid up capital of Tk. 699.81 million/USD 8.75 Million. The Company is enlisted with Dhaka Stock Exchange and Chittagong Stock Exchange and has been declaring dividend every year since inception. The Company has been assigned “AAA” by Alpha Credit Rating Limited(Alpha Rating) Bangladesh.

Current Chairman Tapan Chowdhury Managing Director of Square Group ,former Chairman  M. Anis UD Dowla, Chairman of ACI Group, former Chairman Mr. A.K.M. Rahmatullah, Member of the Parliament & Managing Director of Apex Tannery Ltd.  former Chairman Mr. Syed Manzur Elahi, Chairman Apex Group & Ex-Adviser of two Care Taker Governments 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 Consultant 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 joining the Company he was Managing Director of Pioneer Insurance Co. Ltd.,  Deputy Managing Director of Pragati Insurance Ltd. and Deputy General Manager of Sadharan Bima Corporation.

 

Company at a glance
Established     1996
Registered Head Office  

Rangs Babylonia (5th Floor), 246, Bir Uttam Mir Shawkat Sarak, Tejgaon, Dhaka-1208.

Tel: 8878901(Hunting), Fax:+88-02-8878913, 8878914
Email : piclho@pioneerinsurance.com.bd, piclho@gmail.com

Number of Branches 42
Number of Employees 535
Authorized Capital 1 (One) Billion (Taka) / USD 12.50 Million
Paid up Capital 699.81  million (Taka) / USD 8.75 Million
Share Holding Information
  • Sponsors             -  45.14 %
  • General Public    -  31.69 %
  • Institute             -  23.17 %                             
  • Total                    - 100.00 %
Member of International Organization
  • Federation of Afro-Asian Insurers and Reinsurers (FAIR)
  • Association of Insurers and Reinsurers of Developing Countires (AIRDC)
  • Associate Member (Life) : East Asian Insurance Congress (EAIC)

 

INVESTMENT

Investment (Taka in Million)
Bangladesh Govt. Treasury  Bank 25.00
Fixed Deposit with Scheduled Bank 760.70
Share Investment :  
Mutual Trust Bank Ltd.   (3,09,49,932 shares) 224.10
The ACME Laboratories Ltd.  (10,08,030 shares) 52.70
Central Depository Bangladesh Limited. (2,56,945 shares)  2.60
Grameenphone.   (573,100 shares) 77.60
Malek Spinning Mills Ltd. (12,10,000 shares)  29.50
Secondary share 15.10
Grand Total (Taka)
1,187.30

 

time line:

Certificate of Incorporation

25-03-1996

Certificate of Commencement of Business

25-03-1996

Signing of First Insurance Business

13-05-1996

Consent from SEC for issuance of public share of BDT 90 million

28-03-2001

Listed with Dhaka Stock Exchange Limited & Chittagong Stock Exchange Limited

23-07-2001

First Trading of Shares at Dhaka Stock  Exchange Limited & Chittagong Stock Exchange Limited

23-07-2001

First Dividend Declared in the AGM

24-08-1998

Agreement Sign with CDBL

12-04-2004

Change in the denomination of Face Value(BDT Tk10/-) and market lot (from 50 to 500)

26-11-2011

 ICMAB Best Corporate Awards :

ICMAB Best Corporate Award-2011

12-12-2011

ICMAB Best Corporate Award-2012

12-01-2013

ICMAB Best Corporate Award-2013

27-04-2014

ICMAB Best Corporate Award-2014

20-01-2015

 Purchase of Office space for the Company:

City Heart (9th floor), Suit # 10/2 & 10/7 , 67, Naya Paltan, VIP Road,Dhaka-1000.

  29-06-2000 &  25-11-2009

Tajmahal Tower (3rd Floor), 66 Moulovi Bazar, Dhaka-1100.

29-09-2010
 Gulfesha Plaza, Suit # D-4 (Banani Complex), 69, Quarter Circular Road, Mogbazar, Dhaka-1212. 14-07-2011
 Banani Complex , Banani Complex project, Tower -2, 2nd Floor, Agrabad C/A, Chittagong 07-02-2014
MANS TRADE CENTER, Ramjoy Mohajon Lane, Khatungonj, Chittagong for Khatungonj branch.  31-10-2013
Registered Bainanama was executed for Head Office at Rangs Babylonia 246/ka,Tejgaon- Gulshalink Road, Dhaka1 208 for Head Office measuring 14,350 sft. (appx.)  11-06-2013
   

Financial Calendar : 

  • First Quarter ended March 31, 2016. (Announced on April 18, 2016)
  • Half Yearly ended June 30, 2016. (Announced on July 24, 2016 )
  • Third Quarter ended September 30, 2016. (Announced on October 25, 2016 )
  • Year ended December 31, 2016 (Announced on April 16, 2017 )
  • Annual General Meeting , (May 23, 2017)

 

Premium Income
Year Figures in Million (Taka) Growth(%)
 1996  23.14  
 1997  85.47 269%
 1998  105.33 23%
 1999  131.99 25%
 2000  141.48 7%
 2001  144.58 2%
 2002  136.27 -6%
 2003  147.09 8%
 2004  178.34 21%
 2005  245.41 38%
 2006  301.16 23%
 2007  385.20 28%
 2008  665.50 73%
 2009  859.45 29%
2010 1,252.37 46%
 2011 1,598.60 28%
2012 1,701.27 6%
2013 1,874.91 10%
2014 2,135.47 14%
2015 2,283.54 7%
2016 2,504.36 10%

 

Claims Payment

Claims statement From 2011 to  March - 2017.

Figure in BDT

  2011 2012 2013 2014 2015 2016 2017
Fire                      
205,251,480   215,367,819  1,636,039,718  414,778,548  172,676,043  226,079,80  167,176 
Marine
117,504,279 33,342,689 59,580,287 33,872,729 45,093,558 202,092,706 2,481,181
Motor
59,858,857 61,993,767 67,407,645 66,366,906 64,001,942 34,842,338 343,244
Misc. & Accident
18,058,859 86,380,359 33,873,092 31,515,910 17,450,210 11,549,155 233,884
Total Tk.=
400,673,475 397,084,634 1,796,900,742 546,534,093 299,221,753 474,564,079 3,225,485
Total No. of   Claims Settled
907 990 1,056 1,086 1,164 683 34
Claims Outstanding
Nil Nil
11 9 79 294 50
 
Largest Claims Settled.

Sl No. Class of Loss Name of Insured Year Settled Amount (Taka)
1. Fire Aswad Composite Mills Ltd. 2013 1,479,506,490
2. Fire Zaber & Zubair Fabrics Ltd. 2014 15,24,22,791
3. Fire Alema Textiles Ltd 2016 14,13,16,133
4. Marine Cargo Bashundhara Food & Beverage Ltd. 2016 11,27,64,442
5. Fire Matin Spinning Mills Ltd. 2008 92,944,709
6. Fire Asia Composite Mills Ltd. 2012 86,090,707
7. Fire Kader Compact Spinning Ltd. 2015 78,567,108
8. Marine Hull Ratanpur Shipping Line Ltd. 2012 75,372,256
9. Fire Square Consumer Products Ltd. 2007  75,172,582
10. Fire Vidyut Bangladesh (Pvt.) Ltd. 2009 69,836,239
11. Fire Natore Agro Ltd. 2014 57,672,814
12. Fire ACI LTD. 2011 50,480,170
13. Fire Confidence Edible Oil Ltd. 2012 50,456,875
14. Fire Apex Footwear Ltd. 2002 46,817,019
15. Fire Sun Gravures Ltd. 2006 45,597,518
16. Fire Pioneer Apparels Ltd. 2006 40,409,331
17. Fire Shahnewaz Jute Mills (Pvt.) Ltd. 2012 39,862,091
18. Fire Markup Cotton Spinning Ltd. 2011 38,143,399
19. Fire Shahnaz Jute Beiling (Pvt.) Ltd. 2013 36,466,875
20. Misc. Regent Power Ltd. 2012 35,966,109
21. Fire Abul Khair Steel Melting Ltd. 2014 34,458,475
22. Fire L.R. Jute Garden Ltd. 2013 28,262,576
23. Marine Hull Ratanpur Shipping Line Ltd. 2012 31,661,790
24. Marine Cargo GBB Power Ltd. 2010 26,817,138
25. Fire Quality Feeds Ltd. 2012 21,366,907
26. Fire Color City Ltd. 2013 18,556,800
27. Fire Thermax Yarn Dyeing Ltd. 2014 17,956,226
28. Fire Oshin Spinning Mills Ltd. 2014 16,592,922
29. Fire Diamond Egg Ltd. 2015 15,066,961
30. Fire Bashundhara Paper Mills Ltd. 2014 15,020,977
31. Fire Anlima Textile Ltd. 2014 14,102,598
32. Fire Rahimafroz Globatt Ltd. 2014 13,984,847
33. Fire Apex Adelchi Footwear Ltd. 2013 11,240,811
34. Fire( Flood) Dai-Ichi-Pex Leather Industries Ltd. 2005 10,894,774
35. Fire Ahad Jute Spinners Ltd. 2013 10,686,489
36. Fire CSCR (Pvt.) Ltd. 2014 10,266,369
37. Marine Hull Basundhara Logistics Ltd. 2010 10,000,000
38. Marine Cargo Square Pharmaceuticals Ltd. 2003 9,963,650
39. Fire Confidence Salt Ltd. 2012 9,968,051
40. Fire The Delta Spinning Mills Ltd. 2012 9,558,000
41. Fire Waseq Textile Mills Ltd 2015 9,523,473
42. Fire Tangail Jute 2104 8,360,000
43. Fire Robi Axiata(BD) Ltd. 2015 7,985,663
44. Marine Cargo Shahjalal Newsprint Ind. Ltd 2000 7,970,196
45. Fire Noman Terry Towels Mills 2014 7,781,075
46. Fire Sea Tex Ltd. 2012 7,743,603
47. Fire BRAC Bank Ltd. 2009 6,289,832
48. Misc. Ever Smart(BD) Ltd. 2012 5,695,000

 

Re-Insurance Arrangements
    Our Reinsurers :
  • Sadharan Bima Corporation
  • Malaysian Re. Malaysia  (Am.Best. “A” )
  • Labuan Re., Malaysia (Am.Best. “A-” )
  • Trust Re. Bahrain (Am.Best. “A” )
  • GIC Re, India (Am.Best. “A” )
  • National Insurance, India (Am.Best. “B+” )
  • Asian Re, Bangkok (Am.Best. “B+” )
  • New India, India (Am.Best. “A” )
  • United Insurance, India (Am.Best. “B+” )
  • Oriental Insurance,India (Am.Best. “B+” )
  • ACR Group,Singapore (Am.Best. “A” )
  • FCI Limited, Singapore (Am.Best. “A” )
  • India Inter. Insurance, Singapore (Am.Best. “A” )
  • ERGO, Singapore (Am.Best. “A” )
  • IIC of Hannover,U.K. (Am.Best. “A” )
  • IGIC , U.K. (Am.Best. “A” )
  • Transsib Re, Malaysia (Am.Best. “BB+” )
  • Allianz, U.K. (Am.Best. “A” )
  • Kiln, LIoyds, Underwriter (Am.Best. “A” )
  • Barents Re., France (Am.Best. “A” )
  • Santam Re, South Africa (Am.Best. “A” )
  • RICB, Bhutan (Am.Best. “B+” )
  • MISR Insurance, Egypt (Am.Best. “B+” )
  • SKY Re, Caribbean (Am.Best. “B+” )
  •  Unity Re, Russia (Am.Best. “B+” )
  • Aveni Re, Africa (Am.Best. “A” )
  • CICA Re, Africa (Am.Best. “BB+” )
  • Kenya Re, Kenya (Am.Best. “A” )
  • Oman Insurance Company,Oman (Am.Best. “A” )
       Our Brokers :

  • Tysers, LIoyds Broker, London
  • J.B Boda,  Singapore
  • Protection, Bahrian
  • Limtex , Kolkata
  • Heritage , Kolkata
  • M.B.Boda, Mumbai
  • Unison, Mumbai
  • Adyta Birla, Mumbai
  • Reliance , Mumbai
 

We Deal
Foreign Bank :
  • Commercial Bank of Ceylone
  • Citibank N.A.
  • Hong Kong & Shanghai Banking Corporation Ltd.
  • Standard Chartered Bank
  • Habib Bank Ltd.
  • National Bank of Pakistan
  • State Bank of India
Bangladeshi Banks :
  • Sonali Bank Ltd.
  • Janata Bank Ltd.
  • Agrani Bank Ltd.
  • Rupali Bank Ltd.
  • Bangladesh Development Bank
  • Bangladesh Krishi Bank &
  • Bangladesh Shilpa Rin Sangstha
  • Arab Bangladesh Bank Ltd.
  • Al-Arafah Islami Bank Bangladesh Ltd.
  • Bangladesh Commerce Bank Ltd.
  • BASIC Bank Ltd.
  • BRAC Bank Ltd.
  • Bank Asia Ltd.
  • Dutch Bangla Bank Ltd. 
  • Dhaka Bank Ltd.
  • Eastern Bank Ltd.
  • Exim Bank Ltd.
  • I.F.I.C. Bank Ltd.
  • ICB Islami Bank Ltd.
  • Islami Bank Bangladesh Ltd.
  • Mutual Trust Bank Ltd.
  • Mercantile Bank Ltd.
  • National Bank Ltd.
  • National Credit & Commerce Bank
  • One Bank Ltd.
  • Prime Bank Ltd.
  • Pubali Bank Ltd.
  • Premier Bank Ltd.
  • Rajshahi Krishi Unnayan Bank
  • Social Islami Bank Ltd.
  • South East Bank Ltd.