Reliance Insurance Limited Information and Company Profile

Reliance Insurance Limited is a well-established company in the insurance industry. It was founded in 1996 by a group of entrepreneurs who saw an opportunity to provide innovative insurance solutions to the market.

The company's mission is to provide reliable and affordable insurance products to its customers. This mission is reflected in its commitment to excellent customer service and timely claims settlement.

Reliance Insurance Limited offers a wide range of insurance products, including life insurance, general insurance, and health insurance. Its products are designed to meet the diverse needs of its customers, from protecting their assets to providing financial security for their loved ones.

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

Explore further: Reliance Standard Insurance Co

Reliance Insurance Limited is a leading insurance company in the region. It was established in 1962.

The company has a long history of providing insurance services to individuals and businesses. Its expertise spans a wide range of insurance products.

Reliance Insurance Limited is a subsidiary of Reliance Group, a well-established conglomerate in the region.

A fresh viewpoint: European Reliance

Reliance Insurance Limited has its roots in Bangladesh's nationalized insurance sector, which was established in 1972 just after independence.

The government then established two insurance corporations: Bangladesh Sadharan Bima Corporation for non-life insurance business and Bangladesh Jiban Bima Corporation for life insurance business.

The door was opened for private insurance companies through the Insurance (Amendment) Ordinance 1984, allowing Reliance Insurance Limited to start its operation.

Reliance Insurance Limited began its operation by virtue of the Certificate of Commencement of Business issued on 22 March 1988 by Registrar of Joint Stock Companies of Bangladesh.

The company celebrated its 25th anniversary in 2014, marking a significant milestone in its history.

On a similar theme: Reliance Insurance Company

Bangladesh is a key market for Reliance Insurance Limited, with a significant presence in the country's insurance industry.

Reliance Insurance Limited has been operating in Bangladesh since 1985, making it one of the oldest insurance companies in the country.

The company offers a range of insurance products to Bangladeshi customers, including life insurance, general insurance, and takafla (Islamic insurance).

Readers also liked: Bangladesh Insurance Academy

Reliance Insurance Limited has a strong distribution network in Bangladesh, with over 100 branches and a large number of agents and brokers.

The company has a significant market share in the Bangladeshi insurance market, with a large customer base and a reputation for providing reliable and efficient services.

Reliance Insurance Limited has a strong commitment to corporate social responsibility in Bangladesh, with a focus on community development and disaster risk reduction.

The company has implemented various initiatives in Bangladesh to promote financial inclusion and economic development, including microinsurance and disaster risk management programs.

Reliance Insurance Limited has received numerous awards and recognition for its contributions to the Bangladeshi insurance industry, including the "Best Insurance Company in Bangladesh" award.

A different take: Investment Firm Specialising in Managing Risk

Reliance Insurance Limited has a strong leadership team in place. The company's CEO is Mohammad Khaled Mamun, who has been in the role since 2014.

Mohammad Sajedul Haque and Badal Rajbangshi have also held the position of Director of Finance/CFO, with Haque serving from 2016 to 2021 and Rajbangshi taking over in 2021.

Mohammad Mahbubur Rahman has been the Chief Tech/Sci/R&D Officer since 2004, making him a long-standing member of the leadership team. Mohammad Mamunur Rashid has been the Corporate Secretary since 2013.

Here is a list of the company's key directors:

The board members of Reliance Insurance Limited are responsible for making key decisions that shape the company's future. Shamsur Rahman has been the Chairman since 2017, and at 32 years old, he's one of the youngest members of the board.

The longest-serving member is Shahnaz Rahman, who has been a Director/Board Member since 2000. Her dedication and experience are invaluable to the company's success.

Rajiv Prasad Shaha is another Chairman, but his tenure is unknown. This highlights the importance of transparency in leadership roles.

Here are some key facts about the board members:

Imran Faiz Rahman and Mohammad Khaled Mamun are both Directors/Board Members, but their ages are unknown. This lack of information raises questions about the company's commitment to transparency.

Mohammad Abdullah, Iftekharul Huq, Srimati Shaha, Shahzreh Huq, and Amiran Hossain are all Directors/Board Members, but their ages and tenure are also unknown. This highlights the importance of clear communication and accountability in leadership roles.

Leadership in action is all about the right people in the right roles. Mohammad Khaled Mamun has been the CEO of Reliance Insurance Limited since 2014.

Effective leadership requires a strong team, and Reliance Insurance Limited has a diverse group of directors. Mohammad Sajedul Haque was appointed as Director of Finance/CFO in 2016, bringing his expertise to the role.

Having the right people in key positions is crucial for a company's success. Badal Rajbangshi took over as Director of Finance/CFO in 2021, bringing new perspectives to the table.

Long-term vision is essential for a company's growth. Mohammad Mahbubur Rahman has been the Chief Tech/Sci/R&D Officer since 2004, overseeing the company's technological advancements.

A well-organized team is a happy team. Mohammad Mamunur Rashid has been the Corporate Secretary since 2013, ensuring the company's compliance with regulations.

Here's a brief overview of the directors at Reliance Insurance Limited:

Sakhawat Hossain is the Deputy Vice President of Reliance Insurance Ltd. His role is a great example of leadership in action.

Leadership is not just about being in a high position, it's about taking on responsibilities and making decisions that impact others. Sakhawat Hossain's position at Reliance Insurance Ltd shows that leadership can take many forms.

Having a Deputy Vice President like Sakhawat Hossain can be beneficial for a company, as it provides an additional layer of support and guidance for the team. This can help to ensure that the company's goals are met.

Sakhawat Hossain's role at Reliance Insurance Ltd is a testament to the importance of having a strong leadership team in place.

Reliance Insurance Limited's financial performance was significantly impacted by the Covid-19 pandemic, resulting in a gross premium of BDT 2,937.12 million in 2020, down from BDT 3,004.15 million in 2019.

The company made an underwriting profit of BDT 470.98 million in 2020, a substantial amount considering the challenging market conditions.

A cash dividend of 25% was distributed to shareholders for the year 2020, demonstrating the company's commitment to rewarding its investors.

CRISL awarded Reliance Insurance Limited an "AAA" (Triple A) surveillance rating for 2020, a testament to the company's strong financial stability and performance.

Reliance Insurance Limited has a strong brand presence in the market, with a long history dating back to 1930.

The company has a reputation for providing reliable insurance services to its customers, with a wide range of products that cater to different needs.

Reliance Insurance Limited is a well-established player in the insurance industry, with a strong network of agents and brokers across the country.

The company's commitment to customer satisfaction is evident in its high claim settlement ratio, which is a testament to its reliability and efficiency.

Reliance Insurance Limited has a robust risk management system in place, which enables it to minimize risks and provide secure insurance solutions to its customers.

The company's reputation is further enhanced by its compliance with international standards and best practices in the insurance industry.