Provati Insurance PLC
DDSE:PROVATIINS55.50
BDT
-1.10
(-1.94%)
Provati Insurance PLC
DSE:PROVATIINS
(Dhaka Stock Exchange)
Recent
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55.50
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yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Provati Insurance PLC provides non-life general insurance and financial services to corporate, industrial, institutional, and individual clients across Bangladesh. The company operates through specialized underwriting segments, offering a comprehensive portfolio of insurance solutions, including fire insurance covering fire and allied perils, hotel owner all risks, and householder comprehensive insurance; marine insurance comprising marine cargo transit by sea, air, rail, and road, alongside marine hull coverage for inland and ocean-going vessels; engineering insurance encompassing contractor all risks, erection all risks, contractor plant and machinery, machinery breakdown, boiler and pressure vessel, electronic equipment, and deterioration of stock policies; motor insurance offering comprehensive and liability protection for private, commercial, and transport vehicles; miscellaneous accident and casualty insurance spanning personal accident, workmen compensation, public liability, product liability, cash-in-transit, cash-in-safe, cash-on-counter, ATM booth, and bank locker safe deposit protections; health and hospitalization plans; and reinsurance arrangements. The company distributes its underwriting products through a nationwide network of over 60 branch offices supported by computerized policy administration platforms. Founded in 1996, Provati Insurance PLC is headquartered in Dhaka, Bangladesh. In recent developments, the company completed a corporate name change from Provati Insurance Company Limited to Provati Insurance PLC. To diversify its financial operations, the company acquired a 52 percent controlling stake in HAC Securities, marking its entry into the capital market and securities brokerage industry. Additionally, Provati Insurance PLC formed a strategic partnership with Al-Arafah Islami Bank to integrate digital financial services and enhance electronic payment infrastructure across its underwriting network.