Asia Insurance Limited (Bangladesh)

Asia Insurance Limited (AiL) is a non-life insurance company located in Dhaka, Bangladesh. It was incorporated as a Public Limited Company on April 30, 2000, under the Company Act, 1994. The company obtained registration from the former Chief Controller of Insurance, Government of Bangladesh on May 30, 2000. Asia Insurance obtained a renewal license from the Insurance Development & Regulatory Authority (IDRA) in 2011. It was listed with the Dhaka and Chittagong Stock Exchange on June 25, 2009. The company operates through its Head Office and 22 branches across the country. Asia Insurance Limited has an Authorized Capital of Tk. 1000 million and a Paid-up Capital of Tk. 470.70 million. Its shares are traded in both the Dhaka and Chittagong Stock Exchange as 'A' category. The company has achieved a AA+ credit rating from Alpha Credit Rating Limited, valid until June 2024, indicating its strong financial footing and high claim paying ability. Asia Insurance Limited focuses on providing professional services to its clientele, which includes reputed national and multinational conglomerates. It has established a track record as a sound and dependable insurer over the past 22 years. The Board of Directors is led by Mr. Yussuf Abdullah Harun, FCA, Member of Parliament and former president of the FBCCI. The company is headed by Mr. Md. Imam Shaheen, who has over 29 years of practical working experience in the insurance industry. He is the Secretary General of the Bangladesh Insurance Forum and an Executive Committee member of the Bangladesh Insurance Association. The management team is highly qualified and experienced. Asia Insurance Limited has consistently delivered positive financial performance, generating underwriting and investment income. It maintains a strong corporate culture, corporate governance, ethical standards, corporate social responsibilities, superior underwriting skills, and dynamic investment management. The company charges competitive premium rates within the existing tariff, ensuring maximum security at minimum cost. It has reinsurance arrangements both domestically and internationally, allowing it to underwrite risks of any value. Asia Insurance Limited prioritizes prompt handling and settlement of claims to provide timely indemnity to its clients. The future prospects of Asia Insurance Limited include increasing business volume and upgrading the ranking and service quality of the company. The company emphasizes internal and external training for the development of its human resources.