Welcome to Central Insurance Company Limited | Hotline : 09613 878787 |

Company Profile

 

Background

 

Central Insurance Company Limited being incorporated on the 12th November, 1987, starts operation by virtue of the Certificate of Commencement of Business” issued by Registrar of Joint Stock Companies on the 10th December, 1987. It obtains Certificate of Registration from Controller of Insurance on the 30th of November, 1987. Currently the Company is regulated by Insurance Development and Regulatory Authority (IDRA). Central Insurance Company Limited is one of the leading non-life insurance company in Bangladesh with specialized and significant expertise both in traditional and non-traditional insurance businesses ethically with its dynamic leadership in management. Central Insurance always works hard for all clients to deliver innovative products and services while maintaining a commitment to safety, security and sustainability.

 

Board and Sub-Committees:

 

The Company has an experienced and renowned Board of Directors including two Independent Directors. All of them comprise a good number of eminent entrepreneurs and business personalities of the Country. Board members of the Company always support and encourage the Management to comply with the rules and regulations of the land.

 

Mr. Mohammed Musa, Chairperson, is a veteran business executive. The board has delegated authority towards 3 sub-committees namely Executive Committee (EC), Audit Committee (AC) and Nomination & Remuneration Committee (NRC). The Board has delegated sufficient power to the management of the Company for accomplishment of the day to day work.

 

Chief Executive Officer (CEO):

 

Mr. Md. Zahid Anwar Khan, the Chief Executive Officer (CEO) of the Central Insurance Company Limited, is a 33 years’ experienced and outstanding insurance professional. He has long versatile and outstanding carrier in the field of Insurance sector from joining inception of the CICL. Mr. Khan, being the Chief Executive Officer with his most updated knowledge in all the departments of insurance, outstanding professional leadership and excellent managerial charisma, is commanding the Company to place itself to the unique height in the insurance industry of Bangladesh.

 

Head of Departments:

 

Central Insurance has appointed experienced and qualified professional persons as head of the department those who are performing with Finance & Accounts, Sales & Developments, Claims & Re-Insurance, Underwriting & BCD, Share & Establishment, Information Technology, Internal Audit and Board & Administration.

 

Credit Ratings:

 

Central Insurance Company Limited is rated AA- by Credit Rating Information & Services (CRISL), which indicates its high claims paying ability, good protection ability and expectation of variability in risk over time due to economic and or underwriting conditions.

 

Goals

  • Our goal is to be the top insurer in the Non-life Insurance sector of the Country.
  • To achieve the goal we aim at:
  • Maximizing Insurance Coverage at a Minimum Cost.
  • Establishing a long term relationship with our clients and Business partners built on professional service and trust.
  • Responding quickly to new opportunities.
  • Maintaining strong relationships with a wide variety of Partners, like re-insurers, insurance brokers and so on.
  • Assessing and managing our business risks carefully.
  • Striving for continuous improvement developing Performance excellence at all levels

 

Objectives

The Central focuses of our strategic objectives are as follows in brief:

  • To carry on in Bangladesh or any part of the world all kinds of Insurance Business like Fire, Lightening, Explosion, Earth Quake, hail, Air Marine, Transit Accident, Employers Liability, Women’s Compensation, Disease, Sickness Survivorship, Failure of Issue, Burglary, Robbery, Theft, Fidelity, Motor Car, Livestock, Crops, Glass, Third Party Risk and every kind of Guarantee and Indemnity and generally every kind of insurance and re-insurance business whether now known or hereafter to be devised.
  • Provide our Clients and Business partners with the best quality of faster service.
  • Speedy and hassle free settlement of claims
  • Maximize insurance coverage at a minimum cost
  • Improve organizational structure.
  • Ensure administrative transparency.
  • Strengthen Corporate Governance practices.
  • Enhance mass awareness abound General Insurance in Bangladesh.

 

HISTORY OF THE COMPANY

Date of incorporation                                                                       : 12th November, 1987

Obtained certificate for commencement of business                      : 12th November, 1987

Registered with the IDRA                                                                : 30th November, 1987

Commencement of Business                                                          : 10th December, 1987

First Board Meeting                                                                         : 18th March, 1988

First Dividend Declared                                                                   : 1992

Prospectus issued for public subscription                                       : 22nd September, 1994

Subscription Opened                                                                      : 19th December, 1994

Subscription Closed                                                                        : 28th December, 1994

Listing on Dhaka Stock Exchange Ltd.                                            : 20th March, 1995

Listing on Chittagong Stock Exchange Ltd.                                     : 22nd October, 1995

Public Subscription                                                                         : Tk. 3.00 core

Amount over subscription                                                               : Tk. 32,38,24,500.00

First Trading of shares on Dhaka Stock Exchange Ltd.                  : 20th March, 1995

1ST AGM in participation of public shareholders                            : 7th August, 1995

First Trading of shares on Chittagong Stock Exchange Ltd.          : 22nd October, 1995

Market Price of each share as introduce in DSE                            : 177.17

First election of Public Directors                                                     : 26th November, 1997

Issuance of 1st Bonus share                                                          : 11th September, 2004

Agreement Sign with CDBL                                                            : 23rd July, 2005

Issuance of 1st Right Share                                                           : 24th April, 2006

 

Capital structure & share Value

Authorized Capital

Tk.100.00 core

Issued, Subscribed & Paid-up Capital

Tk.53,14,48,233.75.00

Number of shares issued

5,31,44,823 nos.

Face value per share

Tk.10.00

Number of shareholders as on 30th June, 2021 

4333 Nos.

Book value per share

Tk.25.02

Market price- DSE in 2020

(High) Tk.62.40 (Low) Tk.20.00

Market price- CSE in 2020

(High) Tk.61.00 (Low) Tk.24

 

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