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PRESENTED BY MEHEDI HASAN CLASS ID 1114 GROUP NAME - KEEN ORBIT 7TH SEMESTER 01/10/15 [email protected] M 1
| Date post: | 15-Jul-2015 |
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PRESENTED BY
MEHEDI HASANCLASS ID 1114
GROUP NAME - KEEN ORBIT7TH SEMESTER
01/10/[email protected]
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OBJECTIVES OF THE STUDY
To gather comprehensive knowledge on insurance activities.
To identify the problem and Prospects of Prime Insurance in Bangladesh
To analyse the business performance of Prime Insurance Company Lemited.
01/10/[email protected]
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INSURANCE
What is Insurance?
Insurance is a contract to pay compensation in certain eventualities (e.g., death, fire, theft, motor accident) in return for a premium.
The premiums are so calculated that on average, in total, they are sufficient to pay compensation for policy holders who will make a claim, together with a margin to cover administration costs and profit.
- ECONOMIST” DICTIONARY OF BUSINESS01/10/[email protected]
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BACKGROUND
Prime Insurance Company Limited is a second generation private sector Non-life Insurance Company. It is a well-known, trusted and leading name in the general Insurance sector of the country. Prime insurance Company was incorporate as public limited company on 21 March 1996 under Companies Act 1994. The Company is listed with Dhaka Stock Exchange and Chittagong Stock Exchange as a publicly traded Company. The Company carries its insurance activities through nineteen branches spread across the country.
01/10/[email protected]
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Vision
They envision being the leading insurer by maintaining the highest standards of service in all areas of our work in order to uphold their status as one of the market leaders in the insurance industry of Bangladesh.
01/10/[email protected]
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Mission Providing world class service with supreme security to
our clients
Increasing awareness about insurance in the country
Enhancing public confidence in the insurance industry
Introducing modern insurance products comparable with international standards
Emerge as an innovative insurer by providing complete risk management solutions to the clients
01/10/[email protected]
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Their goal is to be the top insurer in the Non-life Insurance sector of the country.To achieve the goal we aim at-
Maximizing Insurance Coverage at a Minimum Cost
Responding quickly to new opportunities
Establishing a long term relationship with our clients and business partners built on professional service and trust
Maintaining strong relationships with a wide variety of partners, like- re-insurers, insurance brokers and so on.
Assessing and managing our business risks carefully
Goal
01/10/[email protected]
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SHARE STRUCTURE
Shareholding Structure TakaSponsors (As on January 31, 2014) 34.88%
11,80,73,200
Public Shareholders (As on January 31, 2014) 65.12%
22,04,56,810
CapitalPaid-up: 3,38,53,001 ordinary shares of Tk 10 each
33,85,30,010
Authorized :10,00,00,000 ordinary shares of Tk 10 each 01/10/15
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PRODUCT & SERVICE
Fire insurance
Marine Insurance
Marine Hull
Motor Insurance
Engineering insurance
Miscellaneous insurance
01/10/[email protected]
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BUSINESS PERFORMANCE IN 2013
Prime insurance , one of the 1st generation company was established in 1994 and stepped into 19 years of its successful operation. The company worked to bilateral with clients that helped to increase business and underwriting profitability significantly. Continuing affrehenssive business policy in 2013 was highest ever since inception . The company earned gross premium of TK.485.63 million during the year as against Tk. 396.7 million in the previous year registering a growth of 22.41% over the last year. 01/10/15
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REFERENCES
www.licindia.in
Wikipedia.org
www.businessdictionary.com
www.investopedia.com
www.irda.gov.in
Prime Insurance website
01/10/[email protected]
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