Islami Insurance Bangladesh Limited
DDSE:ISLAMIINS72.00
BDT
+0.30
(+0.42%)
Islami Insurance Bangladesh Limited
DSE:ISLAMIINS
(Dhaka Stock Exchange)
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72.00
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- Islami Insurance Bangladesh Limited, operating as Islami Insurance Bangladesh PLC, is a Bangladesh-based financial services company that provides Shariah-compliant non-life general insurance (Islami Takaful) products and related risk management services to corporate, institutional, small and medium enterprise (SME), and individual retail clients. Founded in 1999 and headquartered in Dhaka, Bangladesh, the company conducts its underwriting operations across a nationwide network of branches located throughout major commercial and industrial regions. The company offers a comprehensive range of Islamic insurance solutions structured across five primary business segments: Fire Takaful, Marine Takaful, Motor Takaful, Engineering Takaful, and Miscellaneous Takaful. Its core product and service portfolio comprises fire and allied perils insurance, industrial all risks, and fire consequential loss coverage; marine cargo, marine hull, and transit risk protection; comprehensive and third-party motor vehicle coverage for private, commercial, and fleet transports; engineering policies including contractor's all risks, erection all risks, machinery breakdown, electronic equipment, boiler and pressure vessel, and deterioration of stock insurance; and miscellaneous casualty lines including burglary and housebreaking, cash-in-safe, cash-in-transit, cash-on-counter, fidelity guarantee, workmen's compensation, public liability, group personal accident, health hospitalization, and overseas mediclaim. In recent developments, the company formally updated its corporate structure and adopted the legal name Islami Insurance Bangladesh PLC pursuant to statutory amendments under the Companies Act. The company has also expanded its operational reach through bancassurance distribution initiatives in alignment with guidelines established by the Insurance Development and Regulatory Authority (IDRA) and Bangladesh Bank, collaborating with Islamic and conventional commercial banks to market and distribute Takaful products. Furthermore, the company has modernized its operational infrastructure by deploying digital policy issuance platforms and automated electronic claims processing systems, while sustaining strong claims-paying ability credit ratings and expanding its underwriting capacity for specialized industrial, infrastructure, and commercial property risks.