Jiban Bima Corporation Emerges as a Leading Insurance Provider

Jiban Bima Corporation has made a name for itself in the insurance industry. Founded in 1983, the company has been providing insurance services for over three decades.

Jiban Bima Corporation has established itself as a leading insurance provider in Bangladesh. Its extensive network of agents and branches across the country has enabled it to reach a large number of customers.

The company offers a wide range of insurance products, including life insurance, general insurance, and health insurance.

The Jiban Bima Corporation has a remarkable history of growth and expansion. The corporation earned gross premiums of Tk. 1,402.8 million in 1998, which comprised first-year premiums (Tk. 401.2 million), renewal premiums (Tk. 913.0 million), and group insurance premiums (Tk. 88.6 million).

The corporation's life fund has seen a significant increase over the years, reaching Tk. 13.15 billion in 2011, up from Tk. 218.3 million in 1973. This growth is a testament to the corporation's sound financial management and investment strategies.

The Jiban Bima Corporation has paid out Tk. 15.81 billion against various claims, the highest such payments in the country's life insurance business.

The emergence of private companies in Bangladesh's insurance sector was a significant milestone. In 1984, the government passed the Insurance (Amendment) Ordinance 1984 and the Insurance Corporations (Amendment) Ordinance 1984, paving the way for private sector companies to enter the market.

This marked a major shift from the JBC's monopoly on life insurance business, which had existed since 1985. The new ordinances allowed private companies to operate, and by December 2000, at least 17 private sector insurance companies had been established.

The competition brought about by these new players made the life insurance business more competitive. By 2015, the number of private life insurance companies in Bangladesh had grown to 30.

The Jiban Bima Corporation's growth was impressive from 1998 to 2011. In 1998, the corporation earned gross premiums of Tk. 1,402.8 million.

The corporation's premium income was Tk. 2,447 million in 2007, marking a significant 63% increase over premium income in 2001. This growth was a testament to the corporation's expanding reach and services.

The life fund of the JBC increased to Tk. 13.15 billion by 2011, up from Tk. 218.3 million in 1973. This substantial growth was a result of the corporation's steady financial performance.

The corporation's investment also saw a remarkable increase, reaching Tk. 11.99 billion from just Tk. 197 million in 1973. This investment growth was a crucial factor in the corporation's overall financial health.

The JBC's extensive network of offices was a key factor in its success, with 7 regional, 9 zonal, 68 sales, and 343 branch offices across the country.

Jiban Bima Corporation is a pioneer in the insurance industry in Bangladesh. It was established in 1975.

The company started its operation with a capital of Tk. 1 crore, which is approximately $125,000 USD.

Jiban Bima Corporation offers a wide range of insurance products, including life insurance, health insurance, and general insurance.

The company has a strong presence in the Bangladeshi market, with a network of agents and branches across the country.

At Jiban Bima Corporation, insurance services are designed to provide financial protection to individuals and businesses in Bangladesh. They offer a range of insurance products that cater to different needs and risks.

Their life insurance policies, for instance, provide a guaranteed sum to the policyholder's beneficiaries in the event of their death. This ensures that the family is financially secure even in the face of unexpected loss.

Jiban Bima Corporation's general insurance policies, on the other hand, protect against unforeseen events such as accidents, theft, and natural disasters. They offer a range of coverage options to suit different needs and budgets.

Their insurance services are also designed to be affordable and accessible to people from all walks of life. They offer flexible payment plans and discounts to policyholders who pay their premiums on time.

The corporation's experienced team of insurance professionals is always available to provide guidance and support to policyholders. They can help with policy selection, premium calculation, and claim settlement.

UCB Signs Bancassurance Deal with Jiban Bima Corporation, a leading insurance company in Bangladesh.

UCB has a long history of innovation and forward thinking, which is evident in its decision to partner with Jiban Bima Corporation.

The bancassurance deal will allow UCB to sell insurance products to its customers, expanding its services beyond banking.

This partnership is a significant development for the insurance industry in Bangladesh, as it brings together two major players in the market.

UCB's customers will now have access to a wider range of insurance products, making it easier for them to protect their assets and secure their future.

Jiban Bima Corporation is a state-owned insurance company that has been operating in Bangladesh for over 30 years.

The company has a strong reputation for providing reliable and affordable insurance solutions to its customers.

With this partnership, UCB's customers will be able to purchase insurance products online, through the bank's website or mobile app.

The bancassurance deal is expected to increase financial inclusion in Bangladesh by providing more people with access to insurance products.

UCB's partnership with Jiban Bima Corporation is a strategic move to expand its services and increase its market share in the banking and insurance sector.