Global Insurance Ltd
	SYMBOL OF SECURITY AND PEACE

ABOUT US

Preamble:

 In consonance with globalization and free market economy, the Global Insurance Limited was launched early 2000 by a cross section of entrepreneurs encompassing engineers, doctors, real state developers, businessmen and industrialists. In launching the Company the entrepreneurs were inspired by the vision of a company of substance and quality, capable of playing a major role n the insurance industry of the country. With this end in view the sponsors formed the Board of Directors and a number of sub-committees designed to render prompt and efficient service to the valued clients. After seven years of operation, the Company is well set and has acquired wide range of clients, sound assets and a reserve base. Widely appreciated for being run on time-honored ethics and basics of insurance the Company has earned wide reputation and respectability within such a short time. The Directors are determined to continue with the good works done by the Company with a view to making it a household name in the country and truly synonymous with its promotional slogan “Symbol of security and peace”.

Capital Structure :

The Company is one of the few insurance Companies of the country to go for Initial Public Offering (IPO) in March, 2005 and offered 60% public shares i.e. Tk. 9,00,00,000/- (Ninety Million) only. This offer has been oversubscribed by 8 times showing enough public confidence in the performance of the company. Our company is already listed with Dhaka Stock Exchange (DSE). Capital structure is as follows :-

Authorized Capital     :     300 million

Paid up Capital           :     a) Sponsor        : 60 million

   b) Public           : 90 million

      Total                : 150 million

The capital base of the Company is very strong having a sizable amount as security deposit with Bangladesh Bank as required under the provision of the Insurance Act, 1938.

Management :

The Company is staffed by very experienced and technically qualified personnel poised to offer best of protection and services to our valued clients. Our former Chief Advisor Mr. R.A. Howlader, a veteran banker of the country was Managing Director of National Bank Ltd. and presently Chairman of Delta Millers Ltd. and Consultant to Premier Leasing International, who is associated with our company since inception. His rich experience and professional acumen is a valuable asset for the company.

Our Managing Director Mr. A.B.M. Nurul Haq is a veteran insurance personality of the country and has got more than 40 years of experience including extensive study tours and training abroad. He is the writer of two very popular books on insurance.

Re-insurance protection:

We have obtained adequate re-insurance cover from the state owned Sadharan Bima Corporation through a surplus treaty agreement. Besides, we are in close liaison with foreign insurance technical experts and can obtain any expert opinion within a very short period of time. We are, therefore, in a position to underwrite any amount of risk in view of the above arrangement.

Settlement of Claims

Settlement of claims is the sine qua non for an insurance company. Prompt settlement of claims is our avowed motto which we deem to be the prime service rendered to the insured. We normally settle claims within shortest possible time subject to receipt of required documents and assessment from the surveyors.

This will be evident from the undernoted statistics of claims paid during the last six years of company’s operation :

Net Claim paid during the Year 2000-2006

Year-wise financial performance :

 Human Resource Development :

Service is our business. The Company being a service provider, operates on the basis of professional expertise relevant to insurance industry. Its product is service and its raw materials are human resources. The General Insurance industry has since developed and expanded fast in order to meet the growing need of the economy. The company has procured the services of experienced professional personnel from the existing insurance operators including Sadharan Bima Corporation. The company also organizes training programs regularly for training fresh graduates as well as existing manpower for development of their faculties and thus to meet the growing need of human resources.

 Promotional Activities :

GIL always practices a policy of undertaking promotional activities while doing business in order to enhance the image of the Company as well as a part of its obligation to fulfill Corporate Social Responsibility. (CSR)

 With that aim in view, our company sponsored couple of Golf Tournament: (“1^st Global Insurance Cup Golf Tournament-2004”, held on 27^th March 2004 at Army Golf Club,” 2^nd Global Insurance Cup Golf Tournament-2005”, held on 17^th December 2005, at the Army Golf Club). Not only Golf tournament the Company took initiative in sponsoring couple of Table Tennis Tournament also from its inception (“Global Insurance Open Table Tennis Tournament”, held at 29^th July to 31^st July 2003 & “2^nd Global Insurance Open Table Tennis Tournament” held on 31^st August to 2^nd September 2004). These events served to give a good boost to the company’s publicity and image exposures.

Besides, as a part of Corporate Social Responsibility, company always stands by the side of the victims during natural calamities. During the flood disaster of 2004 the Company distributed cash money to its flood victim employee & relief materials (rice, dal and other food materials) to the flood affected people of Shajadpur and Badda areas of Dhaka City.

To create awareness among the general public about the fire hazards, GIL organized a Seminar jointly with fire service & civil defense on “The Role of Insurance, Fire Service and Public awareness for preventing Fire” on 14^th July 2007 at hotel Sheraton. Mr. A B M Nurul Haq Managing Director of Global Insurance Limited and Mr. Md. Abdus Salam, Principal of Civil Defense Training College, Dhaka presented keynote papers highlighting the role of Insurance Companies and the importance of taking preventive measures to mitigate the incidence of fire loss. A good number of people comprising valued clients, senior insurance executives, Journalists etc. participated in the seminar and made valuable contribution in this regard . They stressed upon the need of creating public awareness for preventing fire exposure and also emphasized the need for insurance coverage against all properties which could minimize the loss caused by fire.

 Recent cyclone “SIDR” has caused great loss of life, property etc. to the southern part of the country. The Management as a  part of its motto opted for post cyclone rehabilitation program and donated about one lac Taka to its SIDR-hit employees of the southern districts.

 Objectives :

We are quite aware that the major function of an insurance company should be its ability to provide security to members of the public so as to perform their tasks more efficiently. In order to achieve this goal, the company has set up the following objectives:

a)     To extend the horizon of Insurance protection to industry, commerce and agriculture through introduction of traditional as well as non-traditional products;

b)     To maintain a high ethical standard in all our dealings;

c)     To devise ways and means to render top class customer service;

d)     To invest its fund in secured sectors and to ensure better return on the same;

e)     To build up a professional Institution of high standard.

f)       To practice good corporate governance in all sphere of its activities.

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