BGIC Ltd. is the first general insurance company in Bangladesh, established in 1984. It is headquartered in Dhaka with a branch in Sylhet. BGIC offers various insurance policies including fire, marine cargo and hull, motor vehicle, and liability. Premium rates vary based on property value and risk level. In the event of a loss, BGIC conducts surveys to determine compensation. However, BGIC faces challenges like a lack of trained staff and low public awareness of insurance. Steps are needed to address these issues in order to strengthen the insurance sector in Bangladesh.

2. BANGLADESH GENERAL
INSURANCE COMPANY
LTD. (BGIC)

3. Mr. M. Shahansha Molla
Assistant Professor
Department of Business Administration
Leading University, Sylhet.

5. BANGLADESH GENERAL
INSURANCE COMPANY
LTD. (BGIC)

6. Today we discus about the....

7. Location
Board of Directors
BGIC's History
Head Office:
Founder:
 BGIC Ltd."Branch:
Sylhet is the first general insurance company in Bangladesh.
Bangladesh General Insurance Company
 Ltd.was established A.1984 asInsurance company.
Late Mr. M. in Samad
Bangladesh General private limited Company
BGIC
Ltd.
 42,founded by LateC/AM. A. Samad.
It is Dilkusha Mr. Motijheel Dhaka.
Modhuban Super Market (4th Floor),
Contact:
Chairman:
 It exposed as public limited company in July 29, 1985.
Phone:9555073-4, 9563056-8
Bandar Bazar, Samad
Mr. Towhid Sylhet.
Fax: +88-02-9564212
E-mail: bgicinsurance@yahoo.com
Web address: www.bgicinsure.com

8.  BGIC is re-insured to Lloyd’s
international insurance ..company.
 30% of collected premium is given
to Lloyd’s as ..premium.

10. Fire and Allied Insurance
It includes...
• Fire in Houses, Markets, Shops, Store,
Garments, factory etc.
•It covers the losses created by fire.

11. Marine Cargo
It covers goods , if it lost /damaged during
transit in ship through sea.
Marine Hull
•It covers liability risk & damages of
assets of ship.
•It also covers damages of whole ship.

12. Motor Vehicle Insurance
It covers damages / missing of motor
vehicle
Liability Insurance
•It covers any liability related to license &
Administration.
• Covers liability to injure 3 rd party by
vehicles.

13. •Premium should be paid early.
•Premium is selected by considering asset
value.
A simple premium chart is given below
Policies Coverage Premium rate Total
(Per premium per
Thousand) year
Fire Insurance Tk. Tk. 23 Tk. 23,000
10,00,000
Motor Vehicle Ins. Tk. Tk. 10 Tk. 15,000
15,00,000
Marine Insurance Tk. Tk. 13 Tk. 130,000
( Hull) 100,00,000
Burglary Tk. Tk. 10 Tk. 10,000
Insurance 10,00,000

14. To make insurance policy, BGIC
evaluates ...
• Types of property
• Value of property
• Possibility of damages
• Types of probable liabilities
• Area of insured assets

15. Loss compensation depends on
survey report. For loss
compensation...
• Company send a govt. surveyor to
spot
• Loss is compensated at that amount,
how much damages/lost according to
survey report.
•Re-survey or join survey is applied if

16. Name of the insured: Kaiser Ahmed Chowdhury
Age: 45 years old
Occupation: Business
Insured Property: Toyota X Corolla 1800 CC
Value of the Property: Tk. 3000000 lack (Thirty
Lacks)
Amount of premium: Tk. 30,000 per year
Condition of the Property after risk: Totally
Damaged
Place where risk occurred: Dhaka-Sylhet highway
near Moulovibazar

18. Lack of trained people: There are not
enough trained people in the BGIC. This hampers
regular works of BGIC.
Less attraction by Govt.: Govt. doesn’t pay
enough attention in insurance sector. This is
slowing down works of insurance.
Lack of awareness among people: People
aren’t enough aware about insuring themselves.
Most of people in Bangladesh have misconception
about insurance company, that is why many
people remains unaware about insurance.

19.  This situation can be reduced by
assigning trained people in BGIC.
 Govt. should increase paying attention in
insurance companies.
 Govt. including Insurance companies
should increase awareness among people
about risk of uninsured life.

20. • The employees should have good at technical hand.
• The employees should have more motivational ability
and marketing skills.
• The govt. subsidiaries should be provided.
• The company should promote their company more
through mass media and advertising.
• The importance of insurance should be increased in
the route level.