Profile of the Company
WHO WE ARE
Sponsored by a group of visionary entrepreneurs, known for its superior service quality, Brand Image, Strong Corporate Governance & Corporate Culture committed for excellence, Rupali Insurance Company Limited as a Public Limited Company under the Companies Act, 1913 and a first generation 8. top-tier Non-life Insurance Company in Bangladesh came into existence in May, 1988 and started it’s Commercial operations on 25 June, 1988.
Rupali Insurance Company Limited has a strong capital base 8. capital adequacy maintaining well position in the market. It started its business with a paid up capital of Th. 30 million against an authorized capital ol Tk. 200 million being sponsored by a group of renowned business personalities & reputed industrialist of the country having involvement in diversified business. The Company went into initial public offering in 1995.
The paid up capital of the company has been raised to 11:. 602 million as on December 31, 2015 after issuance of Rights shares in the year 2012 and adiustment of stock dividends Including @ 5% declared in the year 2014. RICL shares are being traded as ‘A” category issue at both the bourses of the country.
For over two and half decades. Rupoli Insurance Company Limited has been holding the strong position in terms of premium collection. CRISL, the Credit Rating Agency in Bangladesh reaffirmed the claim paying ability (CPA) rating of Rupoli Insurance Company Limited on September 30, 2015 as ‘AA’ based on its premium collection, core services, financial ability 8- expeditious settlement of claims.
Rupali Insurance Company Limited with a network of 48 branches covering strategic financial centers of Dhaka, Chittagong 8. some important district town has been providing whole hearted services to the doorsteps of the clients. it has active presence in capital market. The company is always eagerly ready to fulfill the needs of all its clients with high profitability & balanced growth. Rupali Insurance Company Limited has earned excellent market reputation and absolute confidence of its valued clients.
BOARD OF DIRECTORS
The Board of Rupali Insurance Company Limited has been constituted with 20 Directors as per section 76 (l) of Insurance Act 2010 and notification of Bangladesh Securities and Exchange Commission. The Board of RICL is as follows:
11 Sponsor Directors,
05 Public Share Holder Directors and
04 Independent Directors.
The Board is chaired by Mr. Mostafa Golam Quddus, an eminent business person & well
reputed industrialist & Ex-President of Bangladesh Garments Manufactures and Exporters Association (BGMEA) having diversiﬁed business exposures.
The company is focused on few strategic issues encompassing change management in the short to long period through the implementation of various policies. processes and activities to ensure continuous. sustainable and qualitative growth, with the sole objectives of Institution Building. An effective cluster management program has been implemented. Branch management is now being continually exposed to mature thoughts and ideas through mentors resulting in qualitative improvement of their business and operational activities.