Pragati Insurance Ltd.

PRAGATI INSURANCE LIMITED(PIL) is a leading private non-life insurance company in Bangladesh. It was established in 1986 by a group of young Bangladeshi entrepreneurs who had earlier launched a Commercial Bank in the private sector also. These Sponsors included Shipping Magnates, Engineers, Road Builders and Top Garment Industrialists.

The company offers a complete range of general insurance products and services in motor, marine, energy, property and casualty, health, accident and liability areas.

PIL, with its strong capital base and reinsurance partnerships with highly rated national and global Re-insurers, enjoys a competitive edge in the insurance industry due its strong assets, huge reserves, a balanced portfolio mix, steady growth in gross premium and continuous increase in share price at the stock market.

Pragati is listed on both stock exchanges in Bangladesh and enjoys 'A' class reputation. Its Head office is located in Dhaka and it operates a network of branches throughout the country.

Pragati Insurance Limited is rated 'AA1' for the Long Term rating by the Credit Rating Agency of Bangladesh (CRAB). 'AA1' signifies 'VERY STRONG' financial security characteristics and with which an entity is adjudged to have very good financials, claim paying ability and first rate operating environment.

The Company has received many Awards and Accolades over the years. Some of the significant ones include:

International Arch of Europe Award 2012 given by Business Initiative Direction, Geneva, in recognition of its quality and excellence in service in the non-life insurance services in Bangladesh.

The World Quality Commitment Award 2008 given by Business Initiative Direction, Paris, in recognition of its quality in service in the non-life Insurance companies services in Bangladesh.

International Star Award for Quality 2007 presented by Business Initiative Direction, Geneva, for being one of the most outstanding companies in Bangladesh in the Insurance sector.

Paid-up capital of the company is Tk. 529.52 million and Reserves stood at Tk. 2,171.47 million thus making an equity base of Tk.2,700.53 million as of December 2012.

Total Asset as of 31st December, 2012 stood at over Tk.3,459.61 million.

Investment:

Company's investment as of December 31, 2012 at cost price in Share, Debentures and Government Securities at Tk. 344.83 million.

Land:

Freehold Land 86.87 katha at Panthapath(opposite of SonagraonHotel) , Sonargaon Road, Dhaka. Value of the Land as of December 31, 2012 Tk. 831.28 million.

Land & Building

16 storied Commercial space with car parking measuring 104,000 sft at 20-21 Kawran Bazar Comercial Area, Dhaka-1215. The value of the Building as of December 31, 2012 Tk. 1,201.18 million.

Claim Settlement:

Client Excellent Service and Prompt Settlement of claim are the key to the success and growth of the company. Claims are settled immediately on completion of the required formalities by the insured and the surveyors. The company has settled claim(Gross) during the year 2012 Tk. 302.00 million.