Post on 09-Apr-2018
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8/8/2019 Green Delta Insurance Company Limited
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An Appraisal of Green Delta Insurance
Company Limited
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COMPANY BACKGROUND
Started their journey in 1st January 1986
Incorporated as public limited company on 14 December1985 under the companys act 1913 with a paid up capital
of BDT 30.00 million.
After 23 years GDIC became a big family of
20 respected board members
12 dedicated senior management members
500+ committed staff
Numerous valued clients
Thousands of esteemed shareholders with a paid up capital of BDT204.12 million as on 31st December 2008
Established a strong network of 34 branches in six different zonesacross the country
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PRINCIPAL ACTIVITIES OF GREEN DELTAINSURANCE COMPANY LIMITED
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PRODUCT & SERVICES
Corporate
Financial
Traditional
Conventional
Takaful (Islamic)
Investment & Portfolio Management
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CORPORATE
Risk Management
Industrial All Risk Insurance including Machinery Insurance
and Business Interruption
Property All Risks Insurance including Business interruption
Electronic Equipments and Computer insurance
Professional Indemnity Insurance
Corporate Hospitalization cover
Corporate Overseas Health policy
Comprehensive Machinery Insurance
Product Liability Insurance
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FINANCIAL
Portfolio cover
Credit card Protection Insurance
Bankers Blanket Insurance
Money Insurance
A.T.M. Booth Insurance
CASH-IN-SAFE, CASH-IN-TRANSIT &
CASH-ON-COUNTER Insurance
Ideality Bond
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TRADITIONAL
Fire and Allied Perils Insurance
Marine Cargo and Hull Insurance
Aviation Insurance
Automobile Insurance
Personal Accident, Miscellaneous Insurance
Engineering Insurance (Erection all Risk, Contractors all Risk,
Deterioration of Stock & Boiler & Pressure Vessel Insurance)
Health (Hospitalization) Insurance
Overseas Mediclaim Insurance
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CONVENTIONAL
Fire & Allied Perils Insurance
Marine Cargo & Hull Insurance
All types of Aviation Insurance
All types of Automobile Insurance
All types of Accident, Miscellaneous & Liability Insurance
All types of Engineering Insurance
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TAKAFUL (ISLAMIC):
All types of (non life) Takaful Products
INVESTMENT & PORTFOLIO MANAGEMENT
Underwriting
Pre-IPO placement Syndicate
Trusteeship
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FIXED PROPERTY
Fire & Allied.
Burglary & House Breaking.
Industrial all risk.
Machinery Breakdown.
Contractors all risk
Erection all risk.
Deterioration all risk.
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MOVEABLE PROPERTY
Marine Hull.
Marine Cargo.
Vehicle.
Aviations.
Cash in Transit.
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PERSONAL
Health.
Personal Accident.
Hospitalization.
Dread disease.
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LIABILITY
Fidelity.
Workers compensation.
Public Liability.
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ANALYSIS OF THE FINANCIAL
PERFORMANCE GDIC
Total capital structure
(GDIC) started its journey almost two and half decades agowith a paid up capital of BDT 30.00 million
GDIC followed a consistent approach in terms of raising the
capital base and lately declared 100% stock dividend mark
in the year 2008.
GDICL is the first ever insurance company in the country to
raise it's paid up capital to BDT. 400.00 million
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PAID UP CAPITAL
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SHAREHOLDING STRUCTURE
(CONTD.)
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PREMIUM RECEIVED
Source: Annual report (2008) of Green Delta Insurance CompanyLimited
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GROSS PREMIUM RECEIVED
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SETTLEMENT OF CLAIM
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TOTAL RESERVE
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NET INCOME
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BOOK VALUE PER VALUE
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DIVIDEND
Year Dividend in Taka% of Cash
Dividend
2004 24.0010%
2005 43.200%
2006 45.4030%
2007 75.6015%
2008 204.12
0%
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CREDIT RATING:
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PROBLEMS OF GDIC
Insurance company default risk and state guaranty
associations
Insurance insulates too much
Religious concerns
Poor financial position of the insurance companies
Complexity of insurance policy contracts
Higher cost of business
Lack of supervision from the government
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SUGGESTION FOR THE
DEVELOPMENT OF GDIC
Government has some rules and regulation regarding the
policies of insurance companies.
Green Delta should keep their promises to their customer andensure the facilities of the customer.
Government should have a regulatory body for the surveillance
on insurance companies
Green Delta should make the people aware of the utility and
prospects of buying insurance.
Green Delta should ensure the standard quality services to
satisfy the customer demand and need.