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| Express Insurance Limited Business Review |
Express Insurance Limited Business Review. I already write Express Insurance Limited Review In my insurance door blog spot blog site. Now I provide Express Insurance Limited All Business Review Step By Step that can help you to know the Express Insurance Limited Bangladesh Full Business Profile, Like to read just scroll down.
Fire Insurance Business:
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| Fire-Insurance-Business |
As Underwriting performance of Express Insurance Fire business significantly increased in terms of underwriting profit during 2011 compared to the previous year. Underwriting profit of the company increased to Tk.12.61 million in 2011 from Tk. 0.05 million in 2010. Fire Insurance In Bangladesh. Underwriting profit in this segment increased due to increase of net premium and decrease of net claims paid. The total sum insured in this business segment stood at Tk.20.53 billion in 2011 from Tk. 25.27 billion in 2010 against reinsurance coverage of Tk.12.64 billion indicating 61.54% reinsurance coverage. The gross premium of fire business increased to Tk. 111.53 million in 2011 from Tk. 99.60 million in 2010 registering an increase of 1198% compared to previous year. Net premium of the segment increased to TK.76.62 million in 2011 from TK. 66.41 million in 2010. The retention ratio of the company slightly increased and stood at 68.70% in 2011 from 66.68% in 2010 which flourished the basic earning power of the company. Claim ratio in this segment decreased to 17.82% in 2011 from 23.94% in 2010 due to decrease of claim expense during 2011. Management expenses to adjusted net premium ratio of the company increased 37.28% in 2011 against 36.85% in 2010, due to increase of management expenses during the period (16.27%). While agency commission to adjusted net premium ratio of the company slightly decreased to 25.38% in 2011 against 25.99% in 2010. However, expense ratio of the company marginally decreased to 62.66% in 2011 from 62.84 in 2010.
Marine Insurance Business:
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| Marine-Insurance-Business |
Marine Insurance In Bangladesh. As Underwriting performance of Express Insurance Marine business was found to be good among the other business segments in terms of underwriting profit in 2011. Underwriting profit of the company increased to Tk. 53.20 million in 2011 compared to Tk. 33.42 million in 2010. Increase in underwriting profit in this segment was due to increase of adjusted net premium earnings (48.84%). Bangladesh Marine Insurance. The total sum insured in this business segment during 2011 was Tk.19.12 billion while it was Tk. 18.21 billion in 2010 against reinsurance coverage of Tk.4.93 billion in 2011 indicating 25.78% re-insurance coverage. The gross premium earning from this segment increased to TK.128.39 million in 2011 from TK. 93.1 million in 2010 representing 37.90% increase from the previous year; while net premium is increased to TK.100.02 million in 2011 from TK. 70.59 million in 2010. Retention ratio of the company is slightly increased to 77.90% in 2011 from 75.82% in 2010. Claim ratio in the segment decreased to -5.91% in 2011 from 0.41% in 2010 due to decrease of net claim expenses. Management expenses to adjusted net premium ratio of the company decreased to 31.49% in 2011 against 32.88% in 2010 while agency commission to adjusted net premium ratio of the company is decreased to 15.78% in 2011 against 16.98% in 2010. Expense ratio of the company is decreased to 47.27% in 2011 from 49.86% in 2010.
Motor Insurance Business:
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| Motor-Insurance-Business |
The overall underwriting performance of motor business of Express Insurance Limited has been found to be good in terms of underwriting profit in 2011 compared to previous year. Underwriting profit of the company stood at TK. 14.70 million in 2011 from 0.20 million in 2010, due to decrease in net claim paid and expenses during the period. Car Insurance In Bangladesh. Total sum insured in the segment decreased to TK.3.20 billion during 2011 while it was TK. 6.85 billion in 2010 against reinsurance coverage of Tk.0.08 billion. The gross premium earning from this segment decreased to Tk.66.48 million in 2011 from TK. 92.89 million in 2010. Net premium earnings in this segment also decreased to Tk.65.05 million in 2011 from TK. 91.16 million in 2010. Retention ratio slightly decreased to 97.85% in 2011 from 98.14% in 2010. Net claims of the company was paid at Tk..28.78 million in 2011 from Tk. 43.57 million in 2010 which decreased the claim ratio to 44.13% in 2011 from 47.66% in 2010. Management expenses to adjusted net premium ratio of the company increased to 29.28% in 2011 against 27.95% in 2010 while agency commission to adjusted net premium ratio of the company is slightly reduced to 20.07% in 2011 against 20.14% in 2010. Expense ratio of the company iS increased to 49.53% in 2011 from 48.53% in 2010 due to comparative higher decrease in adjusted net premium.
Miscellaneous Insurance Business:
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| Miscellaneous-Insurance-Business |
Miscellaneous Insurance In Bangladesh. The underwriting performance of Express Insurance Limited in miscellaneous business has been found to be good in terms of underwriting profit during the period compared to previous year. Express Insurance Limited underwriting profit is increased to Tk.5.46 million in 2011 from Tk. 2.32 million in 2010 indicating 139.89% growth. Underwriting profit in this segment was caused by mainly decrease of net claims paid, agency commission and management expenses. The total sum insured in the segment increased to TK.2.99 billion during 2011 from TK 2.85 billion during 2010 against reinsurance coverage of Tk.2.16 billion indicating 38.43% reinsurance coverage. The gross premium earning from this segment decreased to Tk.18.60 million in 2011.