Company Profile

Profile of Crystal Insurence Company Limited

 

Introduction:

Crystal Insurance Company Limited is a fastest General Insurance in the Privae Insurance sector of Bangladesh. The Company started it's business operation in June, 2000. The authorized capital of the Company is Tk. 100,00,00,000.00 and Paid-up Capital is Tk. 40,00,00,000.00 out of which Tk. 6,00,00,000.00 already have paid by the Sponsor Shareholders of the Company and the remaining will be raised as soon as possible by floating initial Public Offering (IPO) by Sponsor Shareholders (60% i.e. Tk. 18.00 crore) and Public (40% Tk. 16.00 crore). At Present the Company has network of 31 branches all over the Country covering commercially important & significant places.

Historical Background:

After independence of Bangladesh in 1971, the Banks, Insurance Companies and other sectors like Jute and Textile made nationalized to give a socialistic flavors to the economy of the newly emerged nation, until 1986, 02(two) State owned Corporation namely, Sadharan Bima Corporation (SBC) and Jibon Bima Corporation(JBC) were operated business in the market as general & life insurers respectively in Bangladesh. Due to changing of global economic situation, Bangladesh Government decided to follow an open market economy. So the Government allowed licenses in 1986 to some General and Life Insurance Companies. Thereafter, observing extensive market of business possibilites and with a view to make employment opportunities, the Government in 1996, 1999 & 2013 gave licenses to some more General & Life Insurance Companies to operate general and life insurance business in private sector of the country. At present 45 General Insurance Companies and 32 Life Insurance Companies are operating business in the private sector. Since started business in June, 2000 under the license from the Controller of insurance, personalized & prompt customer services and expedites claims settlement. The experience gathered during the period of 17 years of its operation and reputation earned gives a new dimension to its services rendered to its customer.

 

The board of directors:

Sl

Name

Position

1

Mr. Abdullah Al-Mahmud

Chairman

2

Mr. Abdullah Hasan

Director

3

Mr. A.H.M. Mozammel Hoque

Director

4

Mr. Md. Tajul Islam

Director

5

Mr. Asoke Ranjan Kapuria

Director

6

Mrs. Shahzadi Begum

Director

7

Mrs. Farhana Danesh

Director

8

Mr. Abdullah Al-Mamun

Director

9

Ms. Soera Zahir

Director

10

Mr. Arafat Rashid

Director

11

Mrs. Nusrat Mahmud

Director

12

Ms. Nabila Mahmud

Director

13

Dr. M. Waliuzzaman

Independent Director

14

Mr. Kazi Nasim Uddin Ahmed

Independent Director

 

Some of specialities of the Company:

  • To Provide the customer services of highest standard and to become thereby, a role model for others in terms of security,Relaiability and Professionalism in general insurance industry.

  • To remain innovative and flexible in our services at all time .

  • To remain at the top in terms of knowledgeable resource persons by updating insurance policy changes, if any.

 

Principal products or services:

Principal products or services of the Issuer and markets for such products or services. Past trends and future prospects regarding exports (if applicable) and local market, demand and supply forecasts for the sector in which the product is included with source of data

The company is carrying out following types of insurance businesses:

Fire Insurance

Fire & Allied Perils Insurance

Industrial All Risks Insurance

Marine Insurance

Marine Cargo Insurance

Marine Hull

Motor Insurance

Motor Vehicle Insurance (Private)

Motor Vehicle Insurance (Commercial)

Miscellaneous Insurance

Burglary Insurance (BUG)

Cash-in Safe Insurance (CIS)

Cash-in Transit Insurance (CIT)

Cash-on-Counter Insurance (COC)

Personal Accident Insurance (PA)

Workman’s Compensation Insurance (WC)

Liability Insurance

Employers’ Liability Insurance (EL)

Product Liability Insurance (PDL)

Public Liability Insurance (PL)

Engineering Insurance

Contractors’ All Risks Insurance (CAR)

Erection All Risks Insurance (EAR)

Machinery Break-down Insurance (MBD)

Deterioration of Stock Insurance (DOS)

Boiler & Pressure Vessel Insurance (BPV)

Contractors’ Plant & machinery Insurance (CPM)

 

Markets for such products

The company is selling its products and services to the individuals, institutions directly and through its agents.