Asia insurance Limited (AiL) is one of the leading non-life insurance Company in Bangladesh and was incorporated as Public Limited Company on 30 April 2000 under the Company Act, 1994 and obtained registration from the former Chief Controller of Insurance, Government of Bangladesh on 30 May 2000. Asia Insurance obtains renewal license from the Insurance Development & Regulatory Authority (IDRA) in 2011. Asia Insurance was listed with Dhaka and Chittagong Stock Exchange on 25 June 2009. The Company carries its insurance activities through Head Office along with 22 (twenty two) Branches under online support all over the country.
Asia Insurance Limited has an Authorized Capital of Tk. 1000 million and Paid up Capital of Tk. 470.70 million. Share of the Company are traded in both Dhaka and Chittagong Stock Exchange as ‘A’ category.
Asia Insurance Limited further achieved AA- (Double A Minus) credit rating in 2019 on obtaining A+ (A Plus) credit rating for 6 (six) years consecutively since 2012 as rated by the Credit Rating Information and Service Limited (CRISL) which indicated good financial performance and sound solvency position of the Company having a strong Financial backup to meet with high claim paying ability.
Asia Insurance Limited is focused on providing professional services of the highest quality to its clientele which include many reputed large national and multinational conglomerates. Over the 19 (Nineteen) years, Asia Insurance Limited has established its track record as a sound and dependable insurer, consistently able to meet its commitments and by providing insurance solution to the individual needs of its clients.
The Board of Directors of Asia Insurance Limited are exceptionally qualified and well reputed business leader of the country. Mr. Yussuf Abdullah Harun, FCA, Member of the parliament and former president of the FBCCI is leading the Company as Chairman of the Board of Directors.
The qualified and experienced management team is headed by Mr. Md. Imam Shaheen, who has long 29 years of versatile working experience and well reputation in the Insurance industry. Mr. Md. Imam Shaheen has been elected as the Secretary General of the Bangladesh Insurance Forum (only MD`s organization) and EC member of the Bangladesh Insurance Association, an apex body of the insurance industry in Bangladesh.
Financial performance of the Company has been consistently positive, delivering both underwriting and investment income and by giving attractive returns to its shareholders from inception. The Company is maintaining strong corporate culture, corporate governance, ethical standards, corporate social responsibilities, superior underwriting skills and abilities and dynamic investment management.
Within the framework of existing tariff, this Company charges the most economic and competitive premium rates ensuring maximum security at minimum cost. The Company has got necessary Re-insurance arrangement both at home and abroad under which it can underwrite any risk of any value.
This Company takes utmost care in handling and settling claims with due promptitude with a view to giving timely indemnity to the members of the clientele.
The future prospect of Asia Insurance Limited is not only to increase business volume but also to upgrade the ranking and service quality of the Company. Asia Insurance emphasize on internal and external training in different subject area for the human resource development of the Company.
- To be one of the leading Insurance Company in the country.
- Providing integrated insurance service in the non-life sector.
- Having special track record of prompt customer service and speedy claim settlement.
- To enhance profitability through customer’s satisfaction.
- To create shareholders value.
- To continue commitment to excellence.
- Meet customers demand with utmost effort.
- To ensure maximum protection of shareholders’ investment.
- To provide secured employment environment.
- To develop corporate culture and promote good governance.
- To maintain transparency in disclosures.