Our Presence FIRE. Aviation MOTOR ENGINEERING MARINE. We Cover All General Insurance Needs For -

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Country Wide Branches Network FIRE ENGINEERING Aviation

Chittagong Jessore Khulna Barisal Jhenaidah Rangpur

Dinajpur Chapai Nawabganj MARINE Head Office - Symphony

1 Company Profile Of PIONEER INSURANCE COMPANY LIMITED We Cover All General Insurance Needs For - Our Presence Country Wide Branches Network FIRE ENGINEERING Aviation MOTOR Dhaka Comilla Narsingdi Faridpur Madaripur Chittagong Jessore Khulna Barisal Jhenaidah Rangpur Gaibandha Sylhet Kurigram Pabna Sirajganj Bogra Dinajpur Chapai Nawabganj MARINE Head Office - Symphony (5th Floor), Plot # SE(F),9, Road # 142, South Avenue, Gulshan-1, Dhaka-1212.

2 . Company Profile Pioneer Insurance Company Limited Caring for you, forever. Table of Contents Introduction to Insurance Page 1 General Insurance in Bangladesh Page 1-2 Pioneer Insurance Company Limited The Company Sponsors of PICL Administrative and Technical Strength Page 3 13 Page Page Insurance an Overview Page Valued Clients Page Credit Rating Report Page 33 URL- pioneerinsurance.com.bd (For all Latest Updates)

3 INTRODUCTION TO INSURANCE We read our daily newspapers stories about people being involved in road accidents, of aero planes crashing, buildings burning down, theft of goods, peoples being injured at work and many other mishaps. Behind each story lies a measure of personal tragedy and anxiety for those closely involved. Yet behind each one is also the vast, sophisticated mechanism of insurance. From an individual point of view, insurance is an economic device whereby the individual substitutes a small certain cost (the premium) for a large uncertain financial loss (the risk insured against) which would exist if it were not for the insurance contract. The primary function of insurance is the creation of the counterpart of risk. Which is security. Insurance does not take away the risk. The insurer does not guarantee that the event insured against will not happen. Whatever good the management and staff, losses do occur. The Titanic was unsinkable and yet was lost in the very first voyage. Plants can be operated for many years without accident and then be totally destroyed by Fire. The house may still burn down, the car may still be involved in an accident but at least a large element of the cost involved will be met by the insurer. General Insurance in Bangladesh Before the independence 49 insurance companies were functioning most of those were owned by either Pakistanis or by other foreign nationals. After the independence of Bangladesh Government nationalized all the insurance business which were operating in Bangladesh, mostly owned by West Pakistanis and formed the subsidiary corporations one for General Insurance and other for Life insurance business under the controlling corporation the Bangladesh Jatiya Bima Corporation. Later in 1973, Sadharan Bima Corporation was formed for transacting all General Insurance business and Jiban Bima Corporation for Life Insurance business. To bring efficiency into the sector and to provide quick services with better customer care, Government passed a law in 1984 allowing the formation of Private General Insurance Companies. Sadharan Bima Corporation was given the monopoly to underwrite the business of public and private sector both. Moreover Re-insurance of Private sector companies were made mandatory with Sadharan Bima Corporation. The Premium rates in Bangladesh are not yet opened up and are based on Tarrifs prepared by the Central Rating Committee headed by the controller of insurance, Government of People s Republic Bangladesh. All are bound to follow the Tariffs. Pioneer Insurance Company Limited 1

4 Effective Insurance Legislations in Bangladesh 1.) THE INSURANCE (AMENDMENT) ORDINANCE, 1984 (Ordinance No. L of 1984) The Government of the People s Republic of Bangladesh allowed Private Insurance Companies to operate on 11 August, ) THE INSURANCE CORPORATIONS (AMENDMENT) Act, % Public Sector Business was allowed and distributed to Private Insurance Companies by SBC with effect from 13 February, Private Companies were allowed to do 50% reinsurance with SBC and 50% outside SBC with effect from 13th February, Payment of Commission to the Agents prohibited from 13 February ) THE INSURANCE (AMENDMENT) Act, 1993 Payment of Commission to the Agents as per Insurance Act, 1938 reintroduced from 14 March REINSURANCE MARKETS Local Markets : Sadharan Bima Corporation- National Re-insurer. Regional Professional Re-insurers : Asian Re. Thailand & African Re. Professional Re-insurers: About 400 professional re-insurers operating all over the world. Most of them are situated in UK, Germany, Switzerland, France, Scandinavia, Japan & Asia. Most of them have subsidiaries or offices in London. Of late, India, Singapore, Bermuda, Malaysia, Luxembourg & Middle East attract many re-insurers to open offices. Lloyds of London & other London Market: Lloyds of London established in 1688, by far the biggest reinsurance capacity in the world. Pioneer Insurance Company Limited 2

5 Established 1996 COMPANY PROFILE Registered Office Head Office - Symphony (5th Floor), Plot # SE(F), 9 Road # 142, South Avenue, Gulshan-1, Dhaka-1212, Bangladesh., Listed with Dhaka Stock Exchange & Chittagong Stock Exchange. Number of Branches 41 Number of Employees 543 Authorized Capital 1 (One) Billion Paid up Capital Taka Million Credit Rating AA Chairman Founder Chairman - Syed Manjur Elahi, Period ( to ) Since Inception. followed by : Period Our Vision M Anis Ud Dowla to Tapan Chowdhury to A.K.M Rahmatullah to Syed Manjur Elahi to M Anis Ud Dowla to Tapan Chowdhury to A.K.M Rahmatullah to M Anis Ud Dowla till now.. To Foster the industrial & Economic growth of Bangladesh. To optimize the retention of Bangladesh business. To work towards minimization of losses and develop Risk Management Technologies. To function as a strong and dynamic non-life insurer. Our Mission Member of International Organization Contact us To become the leading insurance company of Bangladesh excelling in every aspect of its business and in delivering its obligations as a good corporate citizen to its clients, employees, shareholders, public and to the country. - Federation of Afro-Asian Insurers and Reinsurers (FAIR) - Association of Insurers and Reinsurers of Developing Countires (AIRDC) - Associate Member (Life) : East Asian Insurance Congress (EAIC) Tel: (Hunt), , Fax: , , -piclho@gmail.com Web Page Important Managing Director qafmislam@gmail.com, Deputy Managing Director - mizanpicl@gmail.com Underwriting Department uw@pioneerinsurnace.com.bd Claims Department claims@pioneerinsurance.com.bd Pioneer Insurance Company Limited 3

The Company Underwrites following types of General Insurance Business : Motor Insurance Act Only Liability Insurance

Insurance of Consequential Loss due to Fire & Allied Perils.

Insurance Marine Hull Insurance Marine Freight Insurance Engineering Insurance : Boiler and pressure Vessels

Stock Insurance (DOS) Electronic Equipment Insurance (EEI) Energy Risks Insurance (Offshore & Onshore) Erection All

6 The Company Underwrites following types of General Insurance Business : Motor Insurance Act Only Liability Insurance Comprehensive Insurance Increased Liability Insurance Fire Insurance Fire and Allied Perils Insurance. Insurance of Consequential Loss due to Fire & Allied Perils. Household Insurance Hotel Owners All Risks Insurance Industrial All Risks Insurance Marine Insurance Marine Cargo Insurance Marine Hull Insurance Marine Freight Insurance Engineering Insurance : Boiler and pressure Vessels Insurance Contractor s All Risks Insurance (CAR) Contractor s Plant & Machinery Insurance (CPM) Deterioration of Stock Insurance (DOS) Electronic Equipment Insurance (EEI) Energy Risks Insurance (Offshore & Onshore) Erection All Risks Insurance (EAR) Lift, Escalator and Hoisting Equipment Insurance Machinery Insurance (MB) Machinery Loss of profit Insurance ( MLop) Power Plant Package Insurance Pioneer Insurance Company Limited 4

The Company Underwrites following types of General Insurance Business : Aviation Insurance: Deductible Insurance Hull Insurance Liability Insurance WAR Insurance Loss of License Insurance Crew

Liability Insurance Cellular Mobile Phone Insurance Credit Card Holder Insurance Directors and Officers Liability Insurance Employer s Liability Insurance Fidelity Guarantee Insurance Group

7 The Company Underwrites following types of General Insurance Business : Aviation Insurance: Deductible Insurance Hull Insurance Liability Insurance WAR Insurance Loss of License Insurance Crew Personal Accident Insurance All Risks Insurance Abandonment of Cricket Match Insurance Air Travel Insurance Burglary Insurance Cash / Property in Premises Cash in ATM Insurance Comprehensive General Liability Insurance Cellular Mobile Phone Insurance Credit Card Holder Insurance Directors and Officers Liability Insurance Employer s Liability Insurance Fidelity Guarantee Insurance Group Hospitalization Plan Insurance Hole in One Golf Tournament Insurance Locers Insurance Money / Cash in Transit Insurance Neon Sign Insurance Overseas Mediclaim Insurance (OMP) General / Public Liability Insurance Professional Indemnity Insurance Personal Accident Insurance People s Personal Accident Insurance Plate Glass Insurance Poultry Insurance Product Liability Insurance Rubber Plantation Insurance Safe Deposit box (Bank Lockers) Pioneer Insurance Company Limited 5

OUR REINSURERS & BROKERS Sadharan Bima Corporation GIC, India New India, India NICL, India ICICI Lombard, India Malaysian Re. Malaysia Labuan Re., Malaysia Sompo Re. Japan Trust Re.

8 OUR REINSURERS & BROKERS Sadharan Bima Corporation GIC, India New India, India NICL, India ICICI Lombard, India Malaysian Re. Malaysia Labuan Re., Malaysia Sompo Re. Japan Trust Re. Bahrain United Insurance, India Allianz, UK & Singapore Asian Re. Thailand African Re., Mauritius PTA Re., Sen Re., Senegal ARIG Re., Bahrain Moscow Re., Russia Kiln, LIoyds Underwriter Kenya Re., Kenya AU Re., Syria Unity Re., Russia Tysers & Co. Ltd, London J.B Boda, Mumbai, & Singapore Adyta Birla, Mumbai JLT Malaysia., Malaysia Marsh, Singapore Protection, Bahrian Limtex, Kolkata, India Relaince Brokers, Mumbai Pioneer Insurance Company Limited 6

9 Company s Premium Income Shown From 1996 To 2014 : Year Figure in Million Growth % (Taka) % % % % % % % % % % % % % , % , % , % , % , % INVESTMENT as at 30 June, 2015 Owners' Equity Year ( Figure in Crore Taka) Figure in million Taka , , , Bangladesh Govt.Treasury Bond Tk Fixed Deposit with Scheduled Bank Tk Share Investment: MTBL (2,59,79,110 shares) Tk The ACME Laboratories Ltd. (10,00,000 shares) Tk CDBL (4,56,945 shares) Tk EXIM Bank Tk Grameenphone (573,100 shares) Tk Malek Spinning Mills Ltd. (12,10,000 shares) Nos.General Insurance Co. (5,137 shares) Tk Secondary share Tk Grand Total Pioneer Insurance Company Limited 7

10 Premium Income : (Taka in Million) COMPANY S PERFORMANCE Net Profit and Investment Income : (Taka in Million) Investment & Total Assets: (Taka in Million) Pioneer Insurance Company Limited 8

11 Paid up Capital (Figure in Million) Year Paid-up Capital Particulars ,000,000 45% (25% Bonus + 20% Right) ,000,000 25% Bonus ,875,000 30% Bonus ,437,500 30% Bonus (20% Bonus + 10% Cash) ,125,000 30% Bonus (20% Bonus + 10% Cash) ,950,000 30% Bonus (25% Bonus + 5% Cash) ,187,500 Claims Statement as at : 31 st June, 2015 ( Figure in Taka) Fire 3,49,61, ,981, ,328, ,813, ,397,260 1,632,587, ,177, ,576 Marine 12,445,126 16,960,608 26,368, ,708,679 33,342,689 59,278,898 28,261,068 5,623,794 Motor 52,769,964 48,109,616 60,713,982 59,858,857 61,327,500 65,070,901 38,172,199 4,488,986 Misc. & Accident 3,297,437 3,306,366 15,546,843 18,058,859 86,402,014 19,944,541 9,040,087 1,615,813 Total Tk.= 103,474, ,358, ,958, ,522, ,469,463 1,776,881, ,651,281 12,660,169 Total No. of Claims Settled Claims Outstanding Nil Nil Nil Nil Nil Pioneer Insurance Company Limited 9

12 Few Settled Claims. SL No. Class of Loss Name of Insured Year Settled-Amount-Tk. 1. Fire Aswad Composite Mills Ltd ,479,506, Fire Zaber & Zubair Fabrics Ltd ,422, Fire Matin Spinning Mills Ltd ,944, Fire Asia Composite Mills Ltd ,090, Marine Hull Ratanpur Shipping Line Ltd ,372, Fire Square Consumer Products Ltd ,172, Fire Vidyut Bangladesh (Pvt.) Ltd ,836, Fire Natore Agro Ltd ,672, Fire ACI LTD ,480, Fire Confidence Edible Oil Ltd ,456, Fire Apex Footwear Ltd ,817, Fire Sun Gravures Ltd ,597, Fire Pioneer Apparels Ltd ,409, Fire Shahnewaz Jute Mills (Pvt) Ltd ,862, Fire Markup Cotton Spinning Ltd ,143, Fire Shahnaz Jute Beiling (pvt.) Ltd ,466, Misc. Regent Power Ltd ,966, Fire Abul Khair Steel Melting Ltd ,458, Fire L.R.Jute Garden Ltd ,262, Marine Cargo GBB Power Ltd ,817, Fire Quality Feeds Ltd ,366, Fire GBB Power Ltd ,676, Marine Cargo Color City Ltd ,556, Fire Thermax Yarn Dyeing Ltd ,956, Fire Oshin Spinning Mills Ltd ,592, Fire Bashundhara Paper Mills Ltd ,020, Fire Anlima Textile Ltd ,102, Fire Rahimafroz Globatt Ltd ,984, Fire Apex Adelchi Footwear Ltd ,240, Fire( Flood) Dai-Ichi-Pex Leather Industries Ltd ,894, Fire Ahad Jute Spinners ltd ,686, Fire CSCR (Pvt.) Ltd ,266, Marine Hull Basundhara Logistics Ltd ,000, Marine Cargo Square Pharmaceuticals Ltd ,963, Fire Confidence Salt Ltd ,968, Fire The Delta Spinning Mills Ltd ,558, Marine Cargo Shahjalal Newsprint Ind. Ltd ,970, Fire Noman Terry Towel Mills ,781,075 Pioneer Insurance Company Limited 10

13 We deal Foreign Banks : Commercial Bank of Ceylone Citibank N.A. Hong Kong & Shanghai Banking Corporation Ltd., Standard Chartered Bank Habib Bank Ltd. National Bank of Pakistan. State Bank of India. Bangladeshi Banks : Sonali Bank Ltd., Janata Bank Ltd., Agrani Bank Ltd., Rupali Bank Ltd., Bangladesh Development Bank, Bangladesh Krishi Bank Arab Bangladesh Bank Ltd. Al-Arafah Islami Bank Bangladesh Ltd. Bangladesh Commerce Bank Ltd. BASIC Bank Ltd. BRAC Bank Ltd. Bank Asia Ltd. Dutch Bangla Bank Ltd. Dhaka Bank Ltd. Eastern Bank Ltd. Exim Bank Ltd. I.F.I.C. Bank Ltd. ICB Islami Bank Ltd. Islami Bank Bangladesh Ltd. Mutual Trust Bank Ltd. Mercantile Bank Ltd. National Bank Ltd. National Credit & Commerce Bank Ltd. One Bank Ltd. Prime Bank Ltd. Pubali Bank Ltd. Premier Bank Ltd. Rajshahi Krishi Unnayan Bank Ltd. Social Islami Bank Ltd. South East Bank Ltd. Pioneer Insurance Company Limited 11

14 Fixed Asset Sl.No. Description Taka 1 Furniture & Fixture 4,240, Office Machinery 1,358, Air Conditioner 4,060, Computer 2,872, Telephone set 757, Electric Equipment 888, Sign Board 422, Others 19,007, Office Space 01. V.I.P. Road Branch, Dhaka. 7,375, City Heart, 9th floor, 67 Naya Paltan, Dhaka Imamagonj Branch, Dhaka. 1,03,40, Tajmahal Tower (3rd floor), 66 Moulvibazar Dhaka Moghbazar Branch, Dhaka. 10,593, Gulfesha Plaza (4th floor), 69 Outer Circular Road, Near Moghbazar Chourasta, Dhaka Chittagong Zonal Branch, Chittagong. 7,65,28, Banani Complex (Cinema & Shopping Ltd. Tower-B, building (2 nd Floor), 942/A, S.K. Mujib Road Agrabad C/A, Chittagong. 05. Khatungonj Branch 80, Khatungonj, 2nd Floor,Chittagong ,73,45, Total amount 155,792, Pioneer Insurance Company Limited 12

15 Branches of Pioneer Insurance Company Limited. Dhaka Division 1) Dilkusha Branch 2) Local Office 3) Gulshan Branch 4) V.I.P Road Branch 5) New Market Branch 6) Kawranbazar Branch 7) Shantinagar Branch 8) Motijheel Branch 9) Imamgonj Branch 10) Uttara Branch 11) B.B Avenue Branch 12) Narayanganj Branch 13) Moghbazar Branch 14) Mirpur Branch 15) Tangail Branch 16) Narsingdi Branch 17) Faridpur Branch 18) 19) Madaripur Branch Dhanmondi Branch Barisal Division 32) Barisal Branch Khulna Division 33) Khulna Branch 34) Jessore Branch 35) Jhenaidah Branch Sylhet Division 36) Sylhet Branch Rajshahi Division 37) Pabna Branch 38) Sirajganj Branch 39) Bogra Branch. 40) Chapai Nawabganj Branch. Chittagong Division 20) Agrabad Branch 21) Sheikh Mujib Road Branch 22) Jubliee Road Branch 23) Khatungonj Branch 24) G.E.C's More Branch 25) Kadamtali Branch 26) Cox's Bazar Branch 27) Comilla Branch Rangpur Division 28) Rangpur Branch 29) Gaibandha Branch 30) Kurigram Branch 31) Dinajpur Pioneer Insurance Company Limited 13

SPONSORS OF THE PIONEER INSURANCE COMPANY LIMITED The Sponsors of the Company include a number of renowned limited companies operating successfully for many years.

00 per share on a public issue of 900,000 shares, which was over-subscribed. It may be mentioned here that an amount of premium Tk.35.00 was allowed on a share of Tk.100.

, ACI Foods Ltd., Premiaflex Plastics Ltd., Creative Communication Ltd., ACI Motors Ltd., ACI Godrej Agrovet Private Ltd., ACI Logistics Ltd., ACI Health Care Ltd., Apex Leather craft Limited.

16 SPONSORS OF THE PIONEER INSURANCE COMPANY LIMITED The Sponsors of the Company include a number of renowned limited companies operating successfully for many years. The representatives of the sponsor companies form the Board of Directors of the Company. The Company has issued shares to the general public in 2001 at a premium of Tk per share on a public issue of 900,000 shares, which was over-subscribed. It may be mentioned here that an amount of premium Tk was allowed on a share of Tk by the Securities Exchange Commission, Government of the People's Republic of Bangladesh. Chairman- Advanced Chemical Industries Ltd., ACI Formulations Ltd., ACI Salt Limited, ACI Pure Flour Ltd., ACI Foods Ltd., Premiaflex Plastics Ltd., Creative Communication Ltd., ACI Motors Ltd., ACI Godrej Agrovet Private Ltd., ACI Logistics Ltd., ACI Health Care Ltd., Apex Leather craft Limited., Neem Laboratories (Pvt.) Ltd. Aloe Organics (Pvt.) Ltd., Green Business and Marketing Company BD Ltd., Managing Director- Consolidated Chemicals Ltd. M Anis Ud Dowla Chairman Tapan Chowdhury Director Director- ACI Agro Chemicales Ltd., ACI Edible Oil Ltd., ACI Chemicals Ltd., Credit Rating Agency of Bangladesh Ltd., Stochastic Logic Ltd. Director of non-profit organization- ACI Foundation Committee Member- Metropolitan Chamber of Commerce & Industry, Dhaka., Bangladesh Employers' Federation., President- Bangladesh Seed Association. Former President - Metropolitan Chamber of Commerce & Industry, Dhaka., Bangladesh, Bangladesh Employers Federation, Bangladesh Crop Protection Association. Trustee Independent University Bangladesh (IUB) Managing Director- Square Pharmaceuticals Ltd., Square Textiles Ltd., Square Hospitals Ltd., Square Knit Fabrics Ltd., Square Fashions Ltd., Square Denims Ltd., Square Apparels Ltd. Sabazpur Tea Company Ltd. Director- Square Toiletries Ltd., Square Informatix Ltd., Square Food and Beverage Ltd. Central Depository Bangladesh Ltd. Guardian Life Insurance Ltd. Bangladesh Institute of Capital Market., Bangladesh Chamber of Industries., Commodities and Derivatives Exchange Ltd., Square Yarns Ltd.,Square Consumer Products Ltd., Square Securities Management Ltd., Square Agro Development and Processing Ltd., Square Herbal and Nutraceuticals Ltd., Square Air Ltd., Astras Ltd., Maasranga Communications Ltd.( Maasranga Television)., Square Formulations Ltd., Square Texcom Ltd., Mediacom Limited., Square Spinning Mills Ltd. FBCCI., Former Adviser of the Caretaker Government of Bangladesh Former President- Metropolitan Chamber of Commerce & Industry, Dhaka., Bangladesh YMCA, Bangladesh Baptist Church Fellowship (BBCF) Chairman Bangladesh Association of Publicly Listed Companies (BAPLC), National Christian Fellowship of Bangladesh (NCFB), Bangladesh Baptist Church Fellowship Trust (BBCFT), Koinonia. Development Committee of Kurmitola Golf Club. President BTMA, Bangladesh Employers Federation (BEF), Bangladesh Herbal Products Manufacturing Association. Executive Committee Member- Board of Governors of Bangladesh Enterprise Institute (BEI), Board of Directors of Bangladesh Textile Mills Association, Bangladesh Association of Pharmaceutical Industries (BAPI), Bangladesh Foreign Trade Institiute (BFTI) Board of Directors. Credit Rating Agency of Bangladesh Limited (CRAB) Board of Directors, Member Advisory Committee, Ministry of Commerce. Managing Director- Shamsul Alamin Real Estate Ltd., SAMCO Retail Ltd., Shopper's World Ltd. SEASONS Director- Fuad Spinning Mills Ltd., SA Spnning Mills Ltd., Alamgir Shamsul Alamin Director Pioneer Insurance Company Limited 14

A. K. M. Rahmatullah, MP Director Member of Parliament (1986-1988,1996-2001, 2008-2013 & 2014-till) Chairman- FB Footwear Ltd., Foodbed Foot wear Ltd. Standing Committee on ministry of Information.

Chief Adviser- Bangladesh Finished Leather, Leathergoods and Footwear Exporters' Association (BFLL & FEA), Dhaka Mahanagar Samity (Dhaka Samity) Founder- A. K. M. Rahmatullah University College, Beraid, Gulshan,Dhaka.

, Apex Investment Ltd., Grey Advertising Bangladesh Ltd., Quantum Consumer Solutions Ltd., Blue Ocean Footwear Ltd., Guardian Life Insurance Ltd.

& Managing Director ACI Formulations Ltd. Director- ACI Foundation, (Non Profitable Organization) Shareholding Director- Consolidated Chemicals Ltd.

, ACI Motors Ltd.,Premia Flex Plastics Ltd., Creative Communication Ltd., ACI Chemicals Ltd., Neem Laboratories (Pvt.) Ltd., Aloe Organics (Pvt.) Ltd., Green Business and Marketing Company BD Ltd.

17 A. K. M. Rahmatullah, MP Director Member of Parliament ( , , & 2014-till) Chairman- FB Footwear Ltd., Foodbed Foot wear Ltd. Standing Committee on ministry of Information. Managing Director-Apex Tannery Ltd, Daichipex Textile Mills Ltd. Apex Property Dvp. Ltd. Member - Parliamentary Standing Committee on Ministry of Posts, Telecommunication and Information Technology. Chief Adviser- Bangladesh Finished Leather, Leathergoods and Footwear Exporters' Association (BFLL & FEA), Dhaka Mahanagar Samity (Dhaka Samity) Founder- A. K. M. Rahmatullah University College, Beraid, Gulshan,Dhaka. Roushan Ara Girls High School, Beraid, Gulshan,Dhaka. Chairman Landmark Footwear Ltd. Managing Director- Apex Footwear Ltd., Apex Enterprises Ltd. Director- Apex Tannery Ltd., Apex Pharma Ltd., Apex Investment Ltd., Grey Advertising Bangladesh Ltd., Quantum Consumer Solutions Ltd., Blue Ocean Footwear Ltd., Guardian Life Insurance Ltd. Syed Nasim Manzur Director President Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka, Leathergoods & Footwear Manufacturers & Exporters Association of Bangladesh (LFMEAB) Nominee Director & Managing Director ACI Formulations Ltd. Director- ACI Foundation, (Non Profitable Organization) Shareholding Director- Consolidated Chemicals Ltd. Shusmita Anis Director Nominee Director- Advanced Chemical Industries Ltd., ACI Pure Flour Ltd., ACI Salt Ltd. Stochastic Logic Ltd., ACI Health Care Ltd., ACI Foods Ltd., ACI Logistics Ltd., ACI Motors Ltd.,Premia Flex Plastics Ltd., Creative Communication Ltd., ACI Chemicals Ltd., Neem Laboratories (Pvt.) Ltd., Aloe Organics (Pvt.) Ltd., Green Business and Marketing Company BD Ltd. Executive Director- Apex Tannery Ltd. Director- Alliance Leather Goods & Footwear Ltd. Corporate Director Alliance Focus Footware Ltd. M.A. Majed Director Director- Hedayetullah Securities Ltd., Apex Leathercraft Fashion & Accessories Ltd., Apex Property Ltd., Foot Bed Footwear Ltd. Former Sponsor Director- Mutual Trust Bank Ltd. Fahama Khan Director Pioneer Insurance Company Limited 15

Managing Director- Parvin Properties & Technologies Ltd. Parven Akhter Director Chairman Baridhara Corporation Ltd. Mrs.

Sanchia Chowdhury Director Managing Director Malek Spinning Mills Limited., Knit Asia Limited. New Asia Limited.

Independent University, Bangladesh University of Health Science Trust (BUHS Trust). A.

and Cultural Development Trust (ESTCDT), Shaheed Khalek and Major Salek Bir Uttom Trust.

18 Managing Director- Parvin Properties & Technologies Ltd. Parven Akhter Director Chairman Baridhara Corporation Ltd. Mrs. Rozina Afroze Director Director Square Fashions Limited., Square Securities Management Limited. Ms. Sanchia Chowdhury Director Managing Director Malek Spinning Mills Limited., Knit Asia Limited. New Asia Limited. Former Chairman Bangladesh Textile Mills Association (BIMA) Founder Trustee Independent University Bangladesh (IUB), Chittagong Independent University, Bangladesh University of Health Science Trust (BUHS Trust). A. Matin Chowdhury Independent Director Chairman Underprivileged Children s Education Programme (UCEP), Education, Science, Technology and Cultural Development Trust (ESTCDT), Shaheed Khalek and Major Salek Bir Uttom Trust. Member National Council of Diabetic Association of Bangladesh (DAB), Bangladesh Legal Aid & Services Trust (BLAST) Managing Director - Mississippi Knitwear Ltd., Seaboard Labels & Accessories Ltd. Director Floral Accessories Ltd. Syed Abdus Sobhan Director Pioneer Insurance Company Limited 16

Ex. State Minister of Ministry of Liberation War Affairs Captain A B Tajul Islam (Retd), MP Director Proprietor - Taj Corporation Managing Director - Pride Steel Mills Ltd. Director - Cavalier Ltd.

19 Ex. State Minister of Ministry of Liberation War Affairs Captain A B Tajul Islam (Retd), MP Director Proprietor - Taj Corporation Managing Director - Pride Steel Mills Ltd. Director - Cavalier Ltd. Chairman - Pride International Ltd., Standing Committee on Ministry of Liberation War Affairs Member - Army Golf Club, RAOWA Club, Flying Club Ltd. Chittagong Boat Club M. Mokammel Haque Retired Secretary to the Government of Bangladesh. Director Q. A. F. M. Serajul Islam Managing Director Pioneer Insurance Company Limited 17

20 ADMINISTRATIVE & TECHNICAL STRENGTH OF PIONEER INSURANCE COMPANY LIMITED Q.A.F.M. SERAJUL ISLAM, Managing Director Mr. Q.A.F.M. Serajul Islam, after completing a post-graduate in Physics in 1972, joined as a Lecture with a private college. His career in insurance begins in 1978 when he joined with Sadharan Bima Corporation. He was holding important position in different Departments of SBC and was Deputy General Manager of Reinsurance Department when he retired voluntarily from SBC in In the same year, he joined with Pragati Insurance Limited as Deputy Managing Director. In September 2005, he joined with Pioneer Insurance Co. Ltd. as Additional Managing Director and took over the charge as CEO and Managing Director of the Company on January 14, He had his Professional Diploma in General Insurance from Bangladesh Insurance Academy in He also received training on insurance and reinsurance matters at home and abroad including a three weeks in house training on reinsurance at Tysers, London. More so, he attended various international seminars and conferences. In addition, he negotiated Reinsurance Treaties of SBC, Pragati Insurance Ltd. & Pioneer Insurance Co. Ltd. with local Re-insurers and Re-insurers in UK, France, Germany, Switzerland, Malaysia, Singapore, Inida, Bahrain etc. His total experience in insurance industry is about 37 years. S.M. Mizanur Rahman, D.M.D. & Company Secretary Educational Qualification: M.B.A., B.Com. (Hon s), M.Com., C.A. (Inter). Experience: Joined Peoples Insurance Co. Ltd. the 1st private sector General Insurance Company as Manager (Accounts) in 1985 and promoted to the post of A.G.M. then D.G.M. in 1991, he did switch over to a group of industries. In May 1994 joined with Bangladesh Co-operative Insurance Limited as A.G.M. (Accounts). In 1996 he joined with Pioneer Insurance Co. Ltd. as D.G.M. (Accounts). Now he is D.M.D. & Company Secretary of the Company. His total experience in insurance industry is about 30 years. D.K. Chakraborty, D.M.D. & Zonal-in-charge, Chittagong Professional Qualification: Diploma in Insurance from Bangladesh Insurance Academy. Experience: Started General Insurance Profession under Mercantile Fire & General Insurance Company Pak. Limited in Served as Branch-in-charge under Popular Ins. Co. Ltd. from 1968 till Nationalization. Served with Sadharan Bima Corporation from its inception as Asst. Manager till Joined Peoples Ins. Co. Ltd. in 1985 as an In-charge, Khatungonj Branch and promoted to the rank of Deputy General Manager in Resigned from Peoples Ins. Co. Ltd. in the year 1991 and joined Reliance Ins. Ltd. as Zonal-in-charge, Chittagong and worked there till Resigned from Reliance Ins. Ltd. in the year 1997 and joined Pioneer Insurance Co. Ltd. as Zonal-in-charge, Chittagong and promoted to the post of D.M.D. in His total experience in insurance is about 53 years. Al-Moeiz Laiwala, MBA (IBA-DU), D.M.D. Joined the Insurance industry on Completion of Masters of Business Administration from the institute of Business Administration, University of Dhaka in the year Taken extension training on Basic course of Insurance at the Bangladesh Insurance Academy. Thereafter undergone on the job training in various departments of the Company (Reliance Insurance Ltd.) e.g. Underwritings, Claims, Reinsurances etc. and thereafter posted at Company s Chittagong Zonal Office as Deputy Zonal-in-charge in the year Later in the year 1997 was entrusted with the responsibility of Zonal-in-charge, Chittagong Zone. He has joined with Pioneer Insurance Company Limited in the year 2008 as Deputy Managing Director & In-charge of Marketing Department, Head Office. Also attended International seminar organized by Arab Insurance Group at Bahrain on Managing Competition and change in soft market. Now having over 16 years experience in the field of General Insurance, Covering Marketing & Sales Management, Risk Assessment and Underwriting. Studying and accessing the Company profile and financials of the client. Prior to this also gained about a year s experience in Marketing and Sales Management of the product of Proctor and Gamble. About 4 years experience as Project In-charge of a Leather Industry (a project of Industrial Promotion Services of Aga Khan Development Network) with exposures on Project Installation, commissioning and Operations and about 3 years experience in managing the Gas Station owned by the family. Pioneer Insurance Company Limited 18

21 Salimur Reza Chowdhury, D.M.D. Educational Qualification: B.A. Experience: He joined Janata Insurance Co. Ltd. in the year He served Janata Insurance Co. Ltd. for 09 years commencing from in the development side and continued till He was the Branch-in-charge of Kawran Bazar Branch since 1995 to 1996 as Asst. Vice President. He joined Pioneer Insurance Co. Ltd. in 1997 as D.G.M. Now he is holding the post of Deputy Managing Director & In-charge, Local Office. His total experience in insurance is more than 27 years. Shamima Faizy, D.M.D. Educational Qualification: M.A. in Bengali in Experience: Served BCI Bank Ltd. prior to her joining in Pioneer Insurance Co. Ltd. as A.G.M. (Dev.), she worked with Peoples Insurance Co. Ltd. since She is now Deputy Managing Director, Marketing Department, Head Office. Her total experience in insurance is about 18 years. Showkat Hossain Siddiki, D.M.D. Educational Qualification: B.Sc. Experience: Prior to his joining in Pioneer Insurance Co. Ltd. as Executive Director (Dev.), he worked with Peoples Insurance Co. Ltd. since Now he is holding the post of Deputy Managing Director & In-charge, Gulshan Branch. His total experience in insurance is about 30 years. Shariful Islam Chowdhury, D.M.D. Educational Qualification: B.Com. in Experience: Served with SACO Int. Ltd. as Public Relations Officer from 1988 to Joined Central Ins. Co. Ltd. in 1992 as Public Relations Officer. Resigned from Central Ins. Co. Ltd. in the year 1997 and joined Pioneer Insurance Co. Ltd. as Branch-in-charge in V.I.P. Road Branch. Now he is holding the post of Deputy Managing Director & In-charge, V.I.P. Road Branch. His total experience in insurance is about 23 years. Mohd. Abu Taiyab, D.M.D. Educational Qualification: M.Com. Experience: Started insurance career in 1989 with Federal Insurance Co. Ltd. and continued his job with them till April He joined Pioneer Insurance Co. Ltd. on May 2009 as Assistant Managing Director. Now he is holding the post of Deputy Managing Director. His total experience in insurance sector is about 26 years. A.K.M. Jashim Uddin Ahmed, D.M.D. Educational Qualification: M.A. in Economics in Professional Qualification: Diploma in Insurance from Bangladesh Insurance Academy in 1985 and stood first. Training: Completed various training courses on insurance both within and outside the country. Attended a 3 months training course on Insurance Management & General Insurance conducted by International Insurance Institute for Asia & Pacific/UNDP/UNCTAD in Manila in Stood 2 nd in the examination and was awarded President s Medal. Experience: Served with the then State Bank of Pakistan from April 65 to 9 th Oct. 69 and joined Pakistan Insurance Corporation (PIC) on 10 th Oct He was absorbed with Sadharan Bima Corporation in 1973 wherefrom he retired on as Asst. General Manager (Reinsurance). Then he joined Pioneer Insurance Co. Ltd. on as G.M. He is now In-charge of Underwriting and Branch Control Departments of the Company and holding the post of Deputy Managing Director. His total experience in insurance industry is about 46 years. Pioneer Insurance Company Limited 19

22 Shabbir Ahamedullah Sinha, D.M.D. Educational Qualification: MBA, M.Sc. in Experience: Started working in Pioneer Insurance Company Limited, Head Office as General Manager, Marketing Department in Before that, he worked with Peoples Insurance Company Limited in since 1994, last designation was Senior Manager. He is now holding the post of D.M.D. & In-charge of the Company s Dilkusha Branch and has total experience in insurance is about 21 years. Monjurul Hoque, D.M.D. Educational Qualification: M.Sc. in Geographical Science from Dhaka University. Training: Received training on Strategic Management & Planning from Institute of Business Administration (IBA), Dhaka University and Motor & Engineering Underwriting from Bangladesh Insurance Academy, Mohakali, Dhaka. Experience: Started insurance career on 30 th April 1986 with Pragati Insurance Limited and continued with them till 14 th August He then joined with Pioneer Insurance Company Limited on 22 nd September 2008 as Executive Director & In-charge of the Company s Shantinagar Branch. He is now holding the post of D.M.D. & In-charge of the Company s Shantinagar Branch. His experience of working in insurance is about 28 years. Tarik ur Rahman, D.M.D. Educational Qualification: B.Com. (Hon s), M.Com. in Management. Experience: Joined Bangladesh General Insurance Company Ltd. as Assistant Manager (Dev.) in December 1985 and continued his job with them till May Promoted to the rank of Deputy Managing Director and Zonal-in-charge, Chittagong in the year Gained extensive experience in Risk Assessment, PML, Underwriting, Claims and Marketing. Resigned from Bangladesh General Insurance Company Ltd. in May 2010 and joined Pioneer Insurance Company Ltd. as Assistant Managing Director. He is In-charge of Reinsurance Department of the Company. His total experience in insurance is about 29 years. Training: Participated in overseas and local training programmes on General Insurance, Reinsurance, Industrial All Risk Insurance, Claim Management, Reinsurance Management, Actuarial Appreciation, Risk Management & PML, Property Risk Management and Fundamentals of Risk Survey organized by Insurance Institute of India, Mumbai, National Insurance Academy, Pune, India and Bangladesh Insurance Academy. He also accredited with the Award of the Insurance Institute of India for his academic excellence. Professional Attainments: He has been invited as a part-time guest faculty by Premier University, Independent University and Bangladesh Insurance Academy to conduct classes on Risk Management and Insurance. He also works as a Risk and Insurance Management Consultant in different Group of Industries. Abdul Momen, D.M.D. Educational Qualification: B.A. (Hon s), M.A. Experience: Started insurance career in 1985 and last position Asst. Managing Director in Pragati Insurance Ltd. He joined Pioneer Insurance Co. Ltd. on December 2011 as Deputy Managing Director. His total experience in insurance sector is about 30 years. Md. Zakir Hossain, D.M.D. Educational Qualification: MBA (Marketing) Experience: Joined in the Insurance Sector at 1991 & worked at many different Insurance Companies. Later he joined Pioneer Insurance Company Limited as Deputy Managing Director in January,2012. His total experience in Insurance sector is about 24years. Pioneer Insurance Company Limited 20

23 Gazi Mohammad Sarwarul Alam, D.M.D & Branch In-Charge, Khatugonj, Chittagong. Educational Qualification: Educational Qualification: B.A (Hon s) M.A in Islamic History & Culture from Chittagong University.(Year-1982) Experience: Experience: Started insurance career in Peoples Insurance Co. Limited as Asstt. Manager in 1987 and continued his job with them till May Promoted to the rank of Executive Director & Branch Head in Jubilee Road Branch, Ctg. Resigned from Peoples Insurance Co. Limited in the year-2013 and joined Pioneer Insurance Co. Limited as DMD & Branch Head, Khatungonj Branch, Chittagong. Total Experience in insurance is about 28 years. Md. Abidul Haque, A.M.D. Educational Qualification: B.Com. Experience: After long experience in banking, he joined with Pioneer Insurance Company Limited in 2007 as Executive Director, Marketing Department. He is now holding the post of A.M.D. & In-charge of the Company s Bangabandhu Avenue Branch, Dhaka. His experience of working in insurance is about 07 years. Salim Sajjad Haque, A.M.D. Educational Qualification: B.Com. (Hon s), M.Com. in Finance from Dhaka University. Experience: Served Northern Insurance Co. Ltd. in many capacities including Head of Establishment. Then joined Marketing Department of Pragati Insurance Ltd. & served as Branch-in-charge of Dilkusha Branch of the Company. Joined Pioneer Insurance Company Ltd. as Executive Director in April He is now holding the post of A.M.D. Md. Nazrul Islam Talukder, A.M.D. Educational Qualification: Bachelor of Commerce, University of Dhaka. Experience: He joined Pragati Insurance Ltd. in the year He served Pragati Insurance Ltd. for 21 years commencing from in the Marketing Department and continued his service till 30 April He was the Branch-in-charge of Imamgonj Branch & Uttara Branch since 2004 to 30 April 2010 as Deputy Vice President. He joined Pioneer Insurance Co. Ltd. as Executive Director from 2 nd May He is now holding the post of A.M.D. & In-charge of the Company s Uttara Branch. Training: Completed various training course on insurance within the country. Md. Mahabbatur Rahman Khan, A.M.D. Educational Qualification: M.Com. in Accounting in Experience: Started insurance career in 1994 with Reliance Insurance Limited and continued his job with them till He joined Pioneer Insurance Co. Ltd. on as Manager, Marketing Department. Now he is holding the post of A.M.D. & Incharge, Kawran Bazar Branch. His total experience in insurance is about 22 years. Sk. Rahat Ahmed, A.M.D. Educational Qualification: B.S.S. Experience: Prior to his joining in Pioneer Insurance Co. Ltd. as General Manager (Dev.), he worked with Insurance Industry since Now he is holding the post of Executive Director & In-charge, Khulna Branch. His total experience in insurance is about 24 years. Pioneer Insurance Company Limited 21

24 Md. Shahidul Islam, A.M.D Educational Qualification: B.A. Experience: Prior to his joining in Pioneer Insurance Co. Ltd. as General Manager (Dev.), he worked with Insurance Industry since Now he is holding the post of Executive Director & In-charge, Barisal Branch. His total experience in insurance is about 26 years. Ahmed Tazidqul Mowla, E.D. Educational Qualification: B.Com. Experience: Prior to his joining in Pioneer Insurance Co. Ltd. as General Manager (Dev.), he worked with Pragati Insurance Limited since Now he is holding the post of Executive Director & In-charge, Sylhet Branch. His total experience in insurance is about 29 years. Md. Musa Reza Siddiqui, E.D Educational Qualification: M.Com. in Accounting in Experience: Started insurance career in February 1989 with Reliance Insurance Limited and continued his job with them till October 12/07/1997. He joined Pioneer Insurance Co. Ltd. on 13/07/1997 as Manager, Marketing Department. Now he is In-charge, Sheikh Mujib Road Branch. His total experience in insurance is about 26 years. Md. Musa Reza Siddiqui, E.D & Branch In- Charge, Sheikhmujib Road, Chittagong. Educational Qualification: M.Com. In Accounting in Experience: Started insurance career in February 1989 with Reliance Insurance Limited and continued his job with them till October 12/07/1997. He joined Pioneer Insurance Co. Ltd. on 13/07/1997 as Manager, Marketing Department. Now he is In-charge, Sheikh Mujib Road Branch. His total experience in insurance is about 27 years. Mosharraf Hossain, G.M. Educational Qualification: M.A. M.B.A. (DU), Dip. CII(UK) DMII (Malaysia) Experience: Prior to his joining in Pioneer Insurance Co. Ltd. as General Manager, he worked with Reliance Insurance Co. Ltd. since Now he is holding the post of General Manager, Branch Control & MIS Department at Head Office. His total experience in insurance is about 24 years. Mosharaf Hossain Majumder, G.M. Educational Qualification: B.Com. Experience: Prior to his joining in Pioneer Insurance Co. Ltd. as Sr. Deputy General Manager (Dev.), he worked with Insurance Industry since Now he is holding the post of General Manager & In-charge, Moghbazar Branch. His total experience in insurance is about 20 years. Pioneer Insurance Company Limited 22

25 Aman Ullah (Aman), G.M. & Branch In-Charge, Jubilee Road, Chittagong. Educational Qualification: B.Com. Experience: Started insurance career in 1995 with Reliance Insurance Limited and continued his job with them till June, 2007 then He joined Pioneer Insurance Co. Ltd. On in July, 2007 as D.G.M and Branch In-Charge in Jubilee Road Branch. His total experience in insurance is about 21 years. S.M. Jasim Uddin, G.M. Educational Qualification: B.S.S. (Hon s), M.S.S. in Public Administration in Professional Qualification: Diploma from Bangladesh Insurance Academy with Tyser Award for 1 st position in the Final part Exam. Experience: Started insurance career on November 18, 1989 with Pragati Insurance Limited and continued with them till March 31, He then joined with Pioneer Insurance Co. Ltd. on April 01, 2010 as Sr. Deputy General Manager, Branch Control & MIS Department at Head Office. Now he is holding the post Sr. D.G.M., Underwriting Department at Head Office. His working experience in the insurance arena is about 26 years. Dhruba Kumar Guha, C.F.O. & Sr. D.G.M. Educational Qualification: MBA, Completed I.C.M.A. partly. Training: He has successful training on i) Company Management, ii) Sound Business & Financial Practices in Insurance Industry, iii) Corporate Tax & VAT, iv) Deduction of VAT & Income Tax at source, v) Business English (Advance Level). Experience: Started insurance career in 1990 with Bangladesh Co-operative Insurance Ltd. as a Probationary Officer and continued his job with them till October He joined Pioneer Insurance Co. Ltd. on November Now he is holding the post of Chief Financial Officer in the rank of Sr. D.G.M. at Head Office. His total experience in insurance is more than 25 years. S.M. Nazmul Islam Bhuiyan, Sr. D.G.M. Educational Qualification: B.Com. (Hon s), M.Com. in Accounting in Experience: Started insurance career in 1990 with Janata Insurance Co. Ltd. and continued his job with them till May He joined Pioneer Insurance Co. Ltd. on June Now he is holding the post of Sr. Deputy General Manager, Internal Audit, Head Office. His total experience in insurance is about 25 years. M. Nazib Iqbal, Sr. D.G.M. Educational Qualification: MBA, B.Com. (Hon s), M.Com. in Management in Training: Overseas training on General Insurance conducted by College of Insurance at Mumbai, India. Attended various training courses on Insurance, Computers and Business English Course (Advance Level). Experience: Joined Reliance Insurance Ltd. on 11 th August, Resigned from Reliance on and joined Pioneer Insurance Co. Ltd. on as Manager. Well experienced in all types of underwriting. Now he is holding the post of Sr. Deputy General Manager, Specialized Underwriting Department, Head Office. His total experience in insurance is more than 28 years. Pioneer Insurance Company Limited 23

26 Abdul Hannan Chowdhury, Sr. D.G.M & Branch In-Charge, Kadamtali, Chittagong. Educational Qualification: M.Com. in Accounting in Experience: Started insurance career in March 1987 with Pragati Insurance Limited and continued his job with them till March He joined Pioneer Insurance Co. Ltd. on 17/06/2009 as Deputy General Manager, Marketing Department. Now he is In-charge, Kadamtali Branch, Chittagong. His total experience in insurance is about 28 years. Habibur Rahman Chowdhury, Sr. D.G.M. Educational Qualification: MBA, Post Graduate Diploma in Human Resource Management (secured 1 st position in order of merit) from the Institute of Personnel Management, Bangladesh in He also obtained the professional degree, BIA Diploma in General Insurance from Bangladesh Insurance Academy in Training: Certificates awarded by IBA, Dhaka University, BUET, IBCS-Primax, Bangla Academy and other Institutes for successful training on IT. Certificate awarded by MCCI, Dhaka in Business Communication Skills. Certificate awarded by MMCG & FLF for successful participation at the workshop on Creative Selling Techniques at British Council Auditorium. Certificate awarded by IUB in Business English (Advance Level). Attended 2012 Programme for Insurance Executive Development (PIED) in Kuala Lumpur, Malaysia. Experience: Started Insurance career on 2 nd May, 1987 with Peoples Insurance Company Limited and continued his job with them till 3 rd January, He joined Pioneer Insurance Co. Ltd. on January 04, Now he is holding the post of Senior Deputy General Manager, Head of HR and Admin. He is one of the Fellow of IPM and Ex-Vice President of EC of IPM. His total experience in insurance is above 27 years. Akbar Hossain, Sr. D.G.M. Educational Qualification: M.Com. Diploma from Bangladesh Insurance Academy with Tyser Award in Training : 1) Marine Insurance Underwriting, Claim and Re-insurance conducted by Bangladesh Insurance Academy (stood first) 2) Fire Insurance Underwriting,Claim,Re-insurance(Theory & Practice) Conducted by Bangladesh Insurance Academy (Stood first). Experience: Started insurance career in 1988 with Pragati Insurance Ltd. and continued his job with them till December He joined Pioneer Insurance Co. Ltd. on 1 st January, 2012 as Deputy General Manager, Claims Department, Head Office. His total experience in insurance is about 26 years. Md.Amirul Hoque (Shameem),D.G.M. & Incharge, G.E.C. More Branch, Chittagong. Educational Qualification: Educational Qualification: B.Com(Pass) in Experience: Started Provotionery Officer (Maketing) in Provati Ins. Co.Ltd, Jubilee Road Branch in 1997 then Rupali Ins.Co.Ltd, Laldighi Branch as a Manager (Marketing) in July, 1997 to 10th July, 2000 then 12th July, 2000 to 12th Feb, 2008 in Eastland Ins.Co.Ltd,Laldighi Branch as a V.P. & Incharge, then Peoples Ins.Co.Ltd, Khatungonj Branch as a D.G.M. & Incharge from 13th Feb 2008 to 02nd Feb, 2009 and now 03rd Feb, 2009 to till now in Pioneer Ins.Co.Ltd, as a D.G.M. & Incharge in G.E.C More Branch, Chittagong. Pioneer Insurance Company Limited 24

27 A.K.M. Abdul Alim, D.G.M. Educational Qualification: Diploma in Engineering-Mechanical. Training: Received training on different aspects of General Insurance matters from Bangladesh Insurance Academy. Attended Annual Business Partners Seminar in Kuala Lumpur, Malaysia. Experience: Joined with Reliance Insurance Limited in 1987 and worked there in Underwriting Department for 03 years. In 1996 joined with Pioneer Insurance Co. Ltd. in this Underwriting Department as Officer. Now he is Deputy General Manager, Underwriting Department, Head Office and having about 23 years of experience of working in insurance. S.M. Fakrul Islam, A.G.M & Branch In-Charge, Cox s Bazar, Chittagong. Educational Qualification: BA (Honors), MA Chittagong University. Experience: Started insurance career 1990 to 1996 with Finix Insurance Limited and 1996 to 2008 with Reliance Insurance Limited then He joined Pioneer Insurance Co. Ltd. on July, 2008 as a Manager and Branch In-Charge. His total experience in insurance is about 26 years. Pioneer Insurance Company Limited 25

28 INSURANCE AN OVERVIEW What is Insurance It is protection against the financial effect of loss. Insurance is a risk transfer mechanism. Transfer risk from the insured to the insurer. What is Risk Risk is something which may or may not happen, endangers an enterprise from achieving its goal and target. It may be classified as either pure or speculative. Speculative risk involves the possibilities of loss or gain. Pure risk involves only the possibility of loss or no loss. Only pure risk may be covered under insurance. There are two factors that work together to cause or contribute to losses. They are perils and hazards. Perils & Hazards A peril is a cause of loss. We speak of the peril of fire, windstorm, flood or theft. Each of these can be the cause of a loss. A hazard, on the other hand, is a condition that may create or increase the chance of loss arising from a given peril. Hazards are normally classified into three categories :- 1. Physical Hazards Consist of those physical properties that increase the chance of loss from the various perils. 2. Moral Hazard refers to the increase in the probability of loss which results from evil tendencies in the character of the insured person. 3. Morale Hazard not to be confused with moral hazard, results from a careless attitude on the part of insured persons toward the occurrence of losses. What is insurable Certain conditions must exist before insurance is possible. 1. large number of homogeneous exposures 2. The loss can be measured in monetary term s. 3. The premium must be reasonable. 4. The loss must be entirely fortuitous 5. No prospect of gain or profit. 6. Not against public policy 7. The person insuring must suffer loss. 8. The loss must not be catastrophic. Pioneer Insurance Company Limited 26

29 How does insurance help society? Insurance helps society by reimbursing people and businesses for insured losses, encouraging accident prevention, providing funds or investment, enabling people to borrow money, and reducing anxiety. (a) Payment of losses. (To put the insured in the same financial position immediate before the loss.) (b) Accident prevention. (c) Investment in the Economy. (d) Support for credit. (e) Reduction of Anxiety. What do insurance companies do with the premiums they collect. Basically insurance companies do three things with the premiums they collect. First, the money is used to pay claims. Second, it is used to pay expenses involved in selling and providing insurance protection. Finally, it is invested if not needed immediately. Payment of Claim. Re-insurance Payment. Management Cost. Investment of Funds. HOW DOES INSURANCE WORK? The whole basis of Insurance is to spread the RISK as far as possible. LOSSES OF THE FEW are paid for by the CONTRIBUTIONS OF MANY. Transferring the Risk does not in itself prevent losses from occurring but it provides a form of financial security and peace of mind for the Insured. CLASSIFICATION OF INSURANCE: Marine - insurance of Hull, Cargo & Freight. Fire - insurance of material loss or damage by fire & special perils, Loss of Profit. Life- Human life related insurance. Misc. & Accident- that are not within above departments. Pioneer Insurance Company Limited 27

Notes. FOR THE PERIOD 1 JULY 2015 to 30 SEPTEMBER 2015

Notes. FOR THE PERIOD 1 JULY 2015 to 30 SEPTEMBER 2015 Asset Manager: ICB Asset Management Company Limited Green City Edge (4th Floor), 89 Kakrail, Dhaka-1000. In terms of the notification of Bangladesh Securities and Exchange Commission published on September