Janata Insurance Company Limited (Bangladesh)

Janata Insurance Company Limited (JICL) is a first-generation Non-Life Insurance Company located in Dhaka, Bangladesh. It was incorporated on September 23, 1986, under the Companies Act 1994. JICL operates in the private insurance sector and offers various types of insurance services, excluding life insurance, in accordance with the Insurance Act, 1938 (repealed by the Insurance Act 2010). The company commenced its business operations on November 6, 1986, after obtaining a registration certificate from the Chief Controller of Insurance. JICL started with a paid-up capital of Taka 30.00 million and authorized capital of Taka 100.00 million, sponsored by leading entrepreneurs and industrialists in Bangladesh. Over time, the authorized and paid-up capital of the company has increased to Taka 1000 million and Taka 466.18 million, respectively, as of December 31, 2022. In 1994, JICL offered 50% of its paid-up capital through an Initial Public Offer (IPO) to the general public and further increased its paid-up capital by issuing rights shares in 2011. The company's ownership is distributed among its sponsors, directors, institutions, and the general public. As of December 31, 2022, the ownership structure is as follows: Sponsor & Directors - 37.05%, Government - 0%, Institute - 10.68%, Foreign - 0%, and General Public - 52.27%. JICL has a board of directors consisting of prominent entrepreneurs and personalities in Bangladesh. The management team comprises highly qualified professionals. Mr. Zafrul Islam Chowdhury chairs the board, and Mr. Mohammad Abu Bakkar Siddique serves as the Chief Executive Officer (CEO) of the company. The company's future plans include expanding its business volume by opening new branches, hiring skilled personnel with technical expertise in the non-life insurance sector, implementing effective marketing strategies, and providing quality services.