History of Bangladesh Insurance Business. Insurance Business in Bangladesh is one of the common phenomenon traditional businesses. This business has a long history. Insurance business in Bangladesh started almost century back for the during the British regime in India, some insurance companies began business operation , both life and general.
Bangladesh Insurance business increased for the duration of 1947-1971, when there are 49 insurance companies operate their business both life and general insurance. In that time Twenty seven Insurance company head office in Bangladesh former West Pakistan and Ten Insurance company head office in East Pakistan.
After liberation war in 1972 The People's Republic Government of Bangladesh nationalized the insurance industry along with the banks in 1972 by Presidential Order No. 95. By virtue of this order, all insurance company in Bangladesh operate they are businesses under this nationalization order. This was observed by formation of 5 insurance companies in the life and non-life sector. Further changes were added on 14th May,1973. These Five Insurance Company insurance corporations were given below-
People's Republic Government of Bangladesh permitted the private sector in 1984 to perform the business in insurance. Ordinance (LI of 1984) after private sector promptly and came forward to establish private insurance companies. Now Total 47 General insurance company in Bangladesh with two state-owned corporations. These 47 Insurance General Insurance Company list given below-
Bangladesh Insurance business increased for the duration of 1947-1971, when there are 49 insurance companies operate their business both life and general insurance. In that time Twenty seven Insurance company head office in Bangladesh former West Pakistan and Ten Insurance company head office in East Pakistan.
After liberation war in 1972 The People's Republic Government of Bangladesh nationalized the insurance industry along with the banks in 1972 by Presidential Order No. 95. By virtue of this order, all insurance company in Bangladesh operate they are businesses under this nationalization order. This was observed by formation of 5 insurance companies in the life and non-life sector. Further changes were added on 14th May,1973. These Five Insurance Company insurance corporations were given below-
- Jatiya Bima Corporation.
- Tista Bima Corporation.
- Karnafuli Bima Corporation.
- Rupsa Jiban Bima Corporation.
- Surma Jiban Bima Corporation.
People's Republic Government of Bangladesh permitted the private sector in 1984 to perform the business in insurance. Ordinance (LI of 1984) after private sector promptly and came forward to establish private insurance companies. Now Total 47 General insurance company in Bangladesh with two state-owned corporations. These 47 Insurance General Insurance Company list given below-
- Sadharan Bima Corporation.
- Express Insurance Co. Ltd.
- Green Delta Insurance Co. Ltd.
- Global Insurance Co. Ltd.
- Bangladesh National Insurance Co. Ltd.
- Bangladesh General Insurance Co. Ltd.
- Reliance Insurance Com.
- Peoples Insurance Com.
- Rupali Insurance Com. Ltd.
- Baira Life Insurance Com. Ltd.
- Sonar Bangla Insurance Com. Ltd.
- United Insurance Com. Ltd.
- Continental Insurance Com. Ltd.
- Purabi General Insurance Com. Ltd.
- Nitol Insurance Com. Ltd.
- Bangladesh Co-operative Insurance Ltd.
- Prime Insurance Com. Ltd.
- Standard Insurance Com. Ltd.
- Paramount Insurance Com. Ltd.
- Pragati Insurance Ltd.
- Provati Insurance Co. Ltd.
- Islami Insurance Bangladesh Ltd.
- Federal Insurance Co. Ltd.
- Eastern Insurance Co. Ltd.
- Islami Commercial Insurance Co. Ltd.
- Meghna Insurance Co. Ltd.
- Eastland Insurance CoM. Ltd.
- The Loyeds Insurance Co. Ltd.
- City General InsuranceCo. Ltd.
- Karnaphuli Insurance Co. Ltd.
- Republic Insurance Co. Ltd.
- Pioneer Insurance Co. Ltd.
- Central Insurance Co. Ltd.
- Crystal Insurance Co. Ltd.
- Mercantile Insurance Co. Ltd.
- Desh General Insurance Co. Ltd.
- Union Insurance Co. Ltd.
- Northern General Insurance Co. Ltd.
- Janata Insurance Co. Ltd.
- Agrani Insurance Co. Ltd.
- Asia Insurance Co. Ltd.
- Phoenix Insurance Co. Ltd.
- Asia Pacific General Insurance Co. Ltd.