Prime Insurance Company Limited

Mr. Md. Zakiullah Shahid, Chairman

Mohammodi Khanam, Managing Director & CEO

 

Corporate Information :

Entity Name : Prime Insurance Company Limited.

Business Address :  Unique Heights (9th Floor)

117, Kazi Nazrul Islam Avenue, Dhaka-1000.

Phone : (+88-02) 55138659-62

IP-Phone : 09613262100, 09613262188

E-mail : info@prime-insurance.net

Website : www.prime-insurance.net

Number of Branches : 18

Starting Date : 21 March 1996

Listed with stock exchange : Yes

Auditors : M/s. Rahman Mostafa Alam & Co.

Certification and Awards :
* ISO 9001: 2008 certifications in 2011
* Winner of South Asian Federation of Accountants (SAFA) award for Best Presented Annual reports for the year 2016.
* First Prize from 17th ICAB National Award for best presented Annual Report 2016 and Third (3rd) Prize from 16th, 14th & 13th ICAB National Award for Best Presented Annual Report for the years 2015, 2013 & 2012 respectively.
* Silver Award for Corporate Governance Excellence from ICSB National Award for the year 2016, 2014 & 2013.
* Certificate of Merit Award from South Asian Federation of Accountants (SAFA) for the year 2012, 2013 & 2015 and
* Certificate of Merit-2012 as the Best Corporate in General Insurance Sector by the Institute of Cost and Management Accountants of Bangladesh (ICMAB).

Business Information :
Business Operation : Non-Life Insurance Business
Major Customer Types : General Public, Foreign and Local Private Organizations, Government Organizations, Manufacturing and Service Industries, Pharmaceuticals, Leather, Garments, power plants.

Employee range : 180-200

Key Management :

Founding Managing Director : Aftab Uddin Shah
Managing Director & CEO : Mohammodi Khanam
DMD : Syed Monirul Huq
CFO : Badal Chandra RAjbangshi FCS, FCA
Company Secretary : Enamul Haque Khan

 

 

Registration Number : C-30448 (1664)/96
Date of Registration : 21 March 1996 

Profile of the Company

Prime Insurance Company Limited is one of the leading non-life insurance companies in Bangladesh with specialized and significant expertise both in traditional and non-traditional insurance businesses. It is established on 1996 under the purview of Companies Act 1994 and listed with Dhaka Stock Exchange Ltd. on 2001. We are currently regulated by Insurance Development and Regulatory Authority (IDRA) to operate insurance business in Bangladesh. We are also regulated by Bangladesh Securities and Exchange Commission because we are a Public listed Company.

We have 20 reputed Board of Directors including two independent Directors in the Company almost all of them are elite class business personalities of Bangladesh. Board members of the Company always support and encourage the Management to comply the rules and regulations.

Management of the Company entrusted to comply with the corporate governance guideline of the regulators. Further, Management proactively approached for business growth using fully automated IT enables services, skilled manpower and business ethics.

Prime Insurance achieved the ISO 9001:2008 certifications in 2011 which is rare in insurance sector in Bangladesh. The Company has also been rated A+ (A Plus) by the Credit Rating Information & Services Limited (CRISL).

The company has a very good reputation due to its re-insurance protection through re-insurance home and abroad and prompt claims settlement services. It has unveiled three exclusive innovative products: Hajj & Umrah Insurance, which is first of its kind in Bangladesh and also Health Insurance Product "Prime Health Plan" in non-life insurance category i.e. hospitalization coverage including critical illness and maternity benefit includes treatment facilities at home and abroad. Further, the company has launched Bankers Blanker Bond (BBB) with wider coverage in exchange of fewer premiums for the protection of Banks from their financial losses.

Prime Insurance Company continues to expand and explore new horizons of success with a vision to be a trusted and one of the leading non-life insurance Companies of the country through providing transparent and quality services. Consequently, the company has been awarded with a number of awards and recognition due to its continuous struggling and development.

Prime Insurance operates its CSR activities in a diverse way like creating awareness on different social issues, growing consciousness on various risks, safety & security matters through arrangement of training, seminars, workshops, organizing rallies, unveiling and distributing publications (Fire Guide Book, Traffic Guide Book, Health Guide Book, Hajj & Umrah Guidebook) and also conducting free consultation services on insurance for the clients. Moreover, Prime Insurance has become a part of different social and cultural activities through promoting and donating to the distressed people and also by donating towareds Government Funds. The Company continues to extend its hands towards the underprivileged people and meritorious students providing them with fixed financial supports.

Under the environmental CSR activities, Prime Insurance Company has organized tree distribution campaign named "Plan for the future" around the country to promote the importance of environment. By distributing trees Prime is encouraging people to reforest their land, to preserve existing forest cover and generally to emphasize the importance of plants & forests.

Under this novel initiative the company has distributed shade and fruit trees for the workers of the factories. So that they can take rest under the shade, while they can east seasonal fruits as well. The Company has also supported "One Student One Tree" campaign of treeism Foundation at New Model Multi Lateral High School, Dhaka. The main objective of this campaign was to raise interest among the school students about environment and bring all the school going children of Bangladesh under one green-umbrella. Recently the Company supported "Shilpir Chokhe Shobuj Dhaka" campaign of Shobuj Dhaka (an environmental organization) with an aim to create social awareness of tree plantation. The company also distributed many indoor plans to the valuable clients.

Prime Insurance Company is very much optimistic to serve quality product and service to its business partner and clients and developing innovative products.

Products :
Fire Insurance, Marine Insurance, Motor Insurance, Engineering Insurance, Cash In Transit Insurance, Bank Lockers Insurance, Fidelity Guarantee Insurance, Bankers Blanket Bond Insurance, Money Insurance including Cyber Crime Insurance, Hajj & Umrah Insurance, Crop Insurance, Health Insurance, Shipbuilders liability coverage, power plant & miscellaneous insurance.