Reliance Insurance Ltd (Bangladesh)

Reliance Insurance Ltd is a company located in Dhaka, Bangladesh. It was incorporated on March 20, 1988, and obtained a Certificate of Registration from the Controller of Insurance on April 7, 1988. The company is regulated by the Insurance Development and Regulatory Authority (IDRA). Reliance Insurance aims to be one of the outstanding insurers in Asia by prioritizing customer satisfaction. Reliance Insurance offers a range of insurance products to personal, commercial, and industrial clients across the country. Its products include Fire, Marine cargo, Marine Hull, Engineering, Personal Accident, Overseas Mediclaim & Holiday, Motor, Various Liability, Aviation Hull & Liability, and Miscellaneous Insurances. The company focuses on prompt claims settlement to ensure customer satisfaction. Reliance Insurance has gained the trust of conglomerates in Bangladesh, ranging from multinational companies to local corporations, who have chosen Reliance as their preferred insurance provider. The company takes customer complaints seriously and strives to resolve them fairly and quickly. In terms of financial performance, for the year ended December 31, 2021, Reliance Insurance earned gross and net premium income of Tk. 3,140.35 million and 1,148.87 million respectively. The company's total assets amount to BDT 11,082.88 million, with a positive growth trend. A cash dividend of 25% was distributed to shareholders for the year ended December 31, 2021. CRISL awarded Reliance Insurance a "AAA" rating, indicating the highest claim paying ability. Reliance Insurance is also involved in the construction of the Reliance Tower Project, a 17-story building in Gulshan-1. The project started in February 2015 with an estimated cost of BDT 700 million. The company has received several awards from prestigious institutions such as the Institute of Personnel Management, Institute of Chartered Accountants of Bangladesh, Institute of Cost and Management Accountants of Bangladesh, and South Asian Federation of Accountants. Reliance Insurance has a team of qualified professionals, including members from the Chartered Insurance Institute (CII) of the United Kingdom. Reliance Insurance currently employs over 320 people across its network of 32 branch offices.