Reliance Insurance Limited is a leading insurance company in Bangladesh that was established in 1988. It provides various types of non-life insurance such as fire, marine cargo, and motor insurance. The company has grown significantly over the years, with total assets increasing from BDT 1,065 crore in 2006 to BDT 2,263 crore in 2010. Reliance aims to become the premier insurance organization in Bangladesh and deliver high quality customer service. It has a network of 32 branches across the country and over 300 employees.

2. Prepared& Presented By
Kazi Mashfiq Uddin Ahmed
ID: 100306003
Department of Business Administration

3. BACKGROUND OF FORMATION:
• Following emergence of Bangladesh as an independent
nation in 1971, insurance industry was nationalized along
with banking and major industrial sectors of jute, textile,
sugar and other heavy industries. Under the nationalized
scheme, only two corporations in the name and style of
Sadharan Bima Corporation (General Insurance Corporation)
and Jiban Bima Corporation (Life Assurance Corporation)
were set up by the Government for carrying on general and
life insurance business respectively. Starting with gradual
liberalization of investment in industry and commerce,
insurance business was also allowed in the private sector
From 1985. As a result, a number of companies were set up.
RELIANCE INSURANCE LIMITED was the fourteenth in line to
start general insurance business in the private sector.
The Company was incorporated on 20th March 1988 and was
allowed to commence business by virtue of the Certificate of
Commencement of Business issued by the Registrar of Joint
Stock Companies on 22nd March 1988. The Company
obtained Certificate of Registration issued by the Controller
of Insurance on 7th April 1988.The company was
subsequently listed in the stock Exchanges of Bangladesh in
1995.

4. Corporate Vision
• Company’s vision is to become the premier
insurance organization and the insurer of first
choice in Bangladesh with a sound reputation
for dependability, professionalism and the
highest standard of customer services.
• Building profitable and socially responsible
financial institution focused on Market and
Business with Growth potential, thereby
assisting Reliance Insurance Company and
stakeholders to build a just, enlightened,
healthy democratic and poverty free
Bangladesh.

5. Corporate Mission
• Grow significantly and achieve significant non-
life insurance market share.
• Continue delivering attractive returns to our
shareholders. Become a caring organization
and employer of choice.
• Invest in top quality human resources and
develop full potentials of employers by
providing continued training and insurance
education.
• Bring innovation in insurance products and
selling techniques.

6. 1. Sustained growth in Small & Medium Enterprise sector
2. Continuous low-cost deposit Growth with controlled growth in
retail assets.
3. Continuous endeavor to increase non-funded income
4. Achieve efficient synergies between the Insurance Company’s
branches, SME unit offices and Reliance Insurance Company
field offices for delivery of remittance and Insurance Company
’s other products and services.
5. Manage various lines of business in a full controlled
environment with no compromise on service quality.
6. Corporate Assets to be funded through self-liability mobilization.
Growth in Assets through syndications and investment in faster
growing sectors.

7. Objectives
• The objectives and principles of Investment
operations of the Insurance Company are:
• To invest fund strictly in accordance with the
principles of Islamic Sharia’ah.
• To diversify its investment portfolio by size of
investment, by sectors (public & private), by
economic purpose, by securities and by
geographical area including industrial,
commercial & agricultural.

8. • To ensure mutual benefit both for the Insurance
Company and the investment-client by professional
appraisal of investment proposals, judicious sanction of
investment, closes and constant supervision and
monitoring thereof.
• To make investment keeping the socio-economic
requirement of the country in view.

9. Particulars 2010 2009 2008 2007 2006
Gross Premium 1241.00 1,041.13 1,101.53 827.53 743.83
Net Premium 618.07 430.25 453.20 353.66 293.18
Net Claims 137.68 105.09 103.68 85.60 70.92
Investment & Other
Income (Gross)
153.68 114.94 61.14 42.42 43.02
Underwriting Profit 161.00 56.78 96.32 76.56 45.10
Net Profit before
tax
287.23 146.30 137.93 100.68 70.18
Paid –up Capital 304.20 234.00 180.00 150.00 150.00
Total Reserves 1114.55 821.63 637.68 543.98 505.40
Total Assets 2262.94 1,880.29 1,467.92 1196.97 1065.80
Cash & Bank
Balances
791.88 759.87 598.82 463.12 350.68
Investment in share
& debenture
330.36 190.52 198.53 169.52 171.86
Dividend in
Percentage cash)
Dividend in
Percentage Bonus)
-
-
-
-
-
30%
-
20%
15%
-
Earning Per Share 71.55 51.71 59.97 44.26 34.78
Book Value Per
Share
384.64 407.03 382.33 101.83 101.00
Shareholder Equity 1170.09 952.44 688.20 152.75 151.72
Number of
Employees
335 325 305 279 283
RELIANCE AT A GLANCE

10. NATURE OF BUSINESS:
The Company carries on the business of all types of insurance except life assurance. It
has now 32 (thirty two) branches, one local office with the Head Office at Dhaka.
The Company's main business operations are being carried out in the following areas:
(a)Underwriting of Fire Insurance.
(b)Underwriting of Marine (Cargo & Hull) Insurance.
(c) Underwriting of Motor Insurance.
(d)Underwriting of Overseas Mediclaim & Holiday Insurance.
(e)Underwriting of Miscellaneous Insurance.
(f) Underwriting of Public Issue of Shares & Debentures.
(g)Investment of Shares & Debentures.

11. Mr. Shamsur Rahman is a member of the Board of Directors and former Chairman of
Reliance Insurance Limited. He is a Director of Bangladesh Lamps Limited (licensed
manufacturers of PHILIPS lighting products), Mediastar Limited (Publishers of Prothom
Alo), Mediaworld Limited (Publishers of The Daily Star), ABC Radio (FM Radio Station).
Mr. Rahman is a Director and current Chairman of Reliance Insurance Limited.
MR. SHAMSUR RAHMAN
Chairman, Reliance
.:: Chairman's Profile

12. Managing Director & CEO
Akhtar Ahmed, ACII
Executive Director
Enamul Haque Khandker, FIPM Head, HR & Administration Division
Md. Khaled Mamun, ACII
Head, Specialized Underwriting and
Marketing
Deputy Executive Director
Md. Anisur Rahman, MBA, ABIA, DAIBB Head, Operations
Md. Sabir Ahmed, FCA, FCS CFO and Company Secretary
Deputy Executive Vice President
Shahadat Hossain Chief, Reinsurance
Md. Israfil
Chief, Branch Co-ordination &
Development
Golam Sarower Incharge, Internal Audit & Control

13. Senior Vice President
Md. Jashim Uddin Chief, Accounts
Nirmal Chandra Roy Chief, New Product & Services
Md. Nazrul Islam Chief, HR & Admin
Deputy Senior Vice President
Md. Mahbubur Rahman (Anis) In-charge, Information Technology
Md. Masud Rana Chief, Finance
Vice President
Kazi Altaf Hussain Chief, Specialized Underwriting
Abdul Motin Chief, Policy Issuing Section
Syed Qayem Hussain Chief, Marketing Services & Health Plan
Asiqur Rahman Chief, Claims Dept
Deputy Vice President
Md. Zahurul Haque Chief, Share Deptt
Md. Abul Kalam Azad Chief, Software-IT Division
Shamsul Alam Chief, Hardware- IT Division
Assistant Vice President
Lutful Jewel Chief, Admin & General Service Deptt

14. Organ gram

15. .:: Products of RELIANCE
Fire Insurances:
• Fire Insurance (including Allied Perils)
• Industrial All Risks (IAR)
• Property Damage All Risks (PDAR)
Marine Cargo Insurances :
• Marine Cargo Insurance transit by Steamer or Powered Vessel
• Marine Cargo Insurance transit by Rail/Lorry/Truck
• Marine Cargo Insurance transit by Inland Rail or Road
• Marine Cargo Insurance transit by Inland Cargoes (water borne)
• Marine Cargo Insurance transit by Air Cargo

16. Marine Hull Insurance
•Total Loss Only (TLO)
•Institute and Inland Time Clauses Hull (ITC)
Engineering Insurances
•Machinery Insurance (Machinery Breakdown)
•Deterioration of Stock (DOS)
•Boiler and Pressure Vessel (BPV)
•Electronic Equipment Insurance (EEI)
•Contractor's All Risks (CAR)
•Work Plant (WP)
•Oil & Gas Well Drilling Equipment Package (OGD)
•Contractors Plan & Machinery (CPM)
•Hotel Owners All Risks (HOAR)

17. Miscellaneous Insurances
•Burglary
•Cash in Safe
•Cash in Transit
•Cash on Counter
•Cash in Premises
•Fidelity Guarantee
•All Risks
•Personal Accident
•Personal Accident (air Travel)
•Product Liability (PRL)
•Public Liability (PL)
•Workmen's Compensation
•Employers Liability
•Marine Terminal Operators Liability (MTOL)
•Commercial General Liability (CGL)
•Comprehensive General Liability
•Hole in One Insurance/Event Cover
•Business Interruption
•Overseas Medical and Holiday Insurance
including Study and Employment
•Health Plan Scheme ( Hospitalization)
•Critical Illness

18. Motor Insurances
•Motor Insurances for Motor Cycle/
Scooter
•Motor Insurances for Private Vehicle
•Motor Insurances for Commercial Vehicle

19. Community
Company aim to be a good corporate citizen and to work in partnership with the community.
They have participated while the nation in a crises of natural disaster.
Customers Company determines customer’s needs and have a commitment to provide high quality
services to meet them.
Environment The Company reports annually our direct and indirect contributions to improving the
environment.
Health & Safety Company is committed to provide a healthy and safe working environment for our staff and
visitors.
Human Rights Company respects the Universal Declaration of Human Rights and are guided by its
principles. The company strictly follows non-discriminatory policies in all its procedures such
as recruitment and promotions and has in place a performance management system that
rewards employees based on merit and contribution.
Standards of Business Conduct Company is committed to ensuring our business is conducted in all respects according to
high ethical, professional, and legal standards and follows good corporate governance
practices.
Suppliers The Company’s suppliers are carefully assessed and approved against established criteria.
Suppliers are managed as partners in our operations and we arrange seminars with
surveyor companies to improve communication and provide technical skills training. In
addition, to ensure compliance with our high service quality standards, satisfaction surveys
are conducted regularly to measure service performance.
Workforce The Company holds a biannual Employee Focus Survey, which focuses on the drivers of
business performance, in particular employee engagement and customer focus. The
company's aim is to be as an employer of choice by engaging its staff and providing them
with the necessary skills and opportunities to contribute to the company's success and fulfill
their potential.
.:: Corporate Social Responsibility

20. .:: Services
Our Services to the customers & Complaints and Suggestions:
Services to the customers:
Striving for customer service excellence has always been our first priority at Reliance
Insurance Limited.
Our customers' needs, including the location and size of our customer operations, are at
the center of our business management and planning processes; from the design and
formulation of insurance policies, to the definition of claims procedures.
Our goals are to always attend to walk-in customers with regards to enquiries,
purchasing new classes of insurance, renewal of insurance and issuing cover notes and
receipts; to guide customers on claims procedures; to provide complete product
information to customers for their better understanding; and to make recommendations
to customers in order for them to make an informed choice.
We are committed to customer service excellence and our mission is backed by
investment
Complaints and Suggestions
Whilst we strive for customer service excellence, a complaint department has been
established by Marketing Services Department. If you wish to make a complaint or
suggest ways we can improve our services, we are hereby ready to assist.

21. 0
100
200
300
400
500
600
700
Net Premium
Analysis in Taka
Bdt. (crore)
2010
2009
2008
2007
2006
Net Premium Analysis
6
1
8
.
0
7
4
3
0
.
2
5
4
5
3
.
2
0
3
5
3
.
6
6
2
9
3
.
1
8

22. 0
20
40
60
80
100
120
140
160
180
Underwriting Profit in Crore
2010
2009
2008
2007
2006
Underwriting Profit Analysis
161.00 crore
56.78
crore
96.32 crore
76.56 crore
45.10 crore

23. 0
100
200
300
400
500
600
700
800
900
Cash & Bank
Balances Analysis
in Taka Bdt. (crore)
2010
2009
2008
2007
2006
Cash & Bank Balances Analysis
7
9
1
.
8
8
7
5
9
.
8
7
5
9
8
.
8
2
4
6
3
.
1
2
3
5
0
.
6
8

24. 2010
2009
2008
2007
2006
335
325
305
279
283
Number of Employees

25. 0 500 1000 1500 2000 2500
Total
Assets in
Taka
Bdt.(Crore)
2006
2007
2008
2009
2010
2262.94 crore
1,880.29 crore
1,467.92 crore
1196.97 crore
1065.80 crore
Total Asset Balances

26. 0
50
100
150
200
250
300
350
400
450
book value per share in Taka BDT.
2010
2009
2008
2007
2006
384.64
407.03
382.33
101.83
101.00
Book Value Per Share Analysis

27. 0
10
20
30
40
50
60
70
80
Earning Per Share in Taka BDT.
2006
2007
2008
2009
2010
34.78 Tk
44.26 Tk.
59.97 Tk. 51.71
Tk.
71.55 Tk.
Earning Per Share Analysis

28. SWOT
Analysis
STRENGTH Weaknesses Opportunities Threats
Strong corporate
identity
Strong employee
bonding
and belongings
Huge Capital
High charges
of L/C
Discouraging
small
entrepreneurs
Absence of
strong
marketing
activities
Distinct operating
procedures
Country wide
network
Increasing
industries
Wide Area of business
Upcoming
Insurance
Company’s/
Branches
Similar products
are
offered by other
Insurance
Company s
Political In Sustainability
Changes in regulation and
Government Policies

29. Strengths
• Strong corporate identity:
According to the customers, Reliance Insurance Company
Insurance Company is the leading provider of financial services
identity worldwide. With its strong corporate image and identity, it
has better positioned itself in the minds of the customers. This
image has helped Reliance Insurance Company Insurance
Company grab the personal Insurance Companying sector of
Bangladesh very rapidly.
Strong employee bonding and belongings:
Reliance Insurance Company Insurance Company
employees are one of the major assets of the company.
The employees of Reliance Insurance Company
Insurance Company have a strong sense of commitment
towards organization and also feel proud and a sense of
belonging towards Reliance Insurance Company
Insurance Company. The strong organizational culture
of Reliance Insurance Company Insurance Company is
the main reason behind its strength.

30. Huge Capital & Assets:
Reliance Insurance Company has huge Amount of reserve Assets and a large Amount
of Capital. So They are Very much capable for investing into the large business sector.
Reliance is Capable to run and support wide range of businesses.
Weaknesses
High charges of L/C:
Presently Reliance Insurance Company Insurance Company charges same rates for all
types of import L/C. But for import L/C of exports-oriented industry, Reliance Insurance
Company Insurance Company should reduce the charge of L/C. As a result, exporter
will be benefited and the country will earn more foreign exchange. The commission often
even rises up to 30%.

31. Discouraging small entrepreneurs:
Reliance Insurance Company Insurance Company provides clean Import Loan to most
of its solvent clients. But they usually do not want to finance small entrepreneurs whose
financial standing is not clean to them.
Absence of strong marketing activities:
Reliance Insurance Company Insurance Company currently don't have any strong
marketing activities through mass media e.g. Television. TV ads play vital role in
awareness building. Reliance Insurance Company Insurance Company has no such TV
ad campaign. Although they do a lot of CSR activities compared to other Insurance
Company s.

32. Opportunities
Distinct operating procedures:
Repayment capacity as assessed by Reliance Insurance Company Insurance
Company of individual client helps to decide how much one can borrow. As the whole
lending process is based on a client's repayment capacity, the recovery rate of Reliance
Insurance Company Insurance Company is close to 100%. This provides Reliance
Insurance Company Insurance Company financial stability & gears up Reliance
Insurance Company Insurance Company to be remaining in the business for the long
run.
Country wide network:
The ultimate goal of Reliance Insurance Company Insurance Company is to expand its
operations to whole Bangladesh. Nurturing this type of vision & mission & to act as
required, will not only increase Reliance Insurance Company Insurance Company
profitability but also will secure its existence in the long run.

33. Increasing industries
In Bangladesh Number of industries are establishing day by day and these are a great
opportunities for expanding the business for Reliance. The export and import oriented
sectors and businesses are widening up in Bangladesh. Entrepreneurships are
expanding and these are great opportunities for expanding the businesses for Reliance.
Wide Area of Business:
In our country the business sectors are wide and varities are there. The Range of
business is Wide cause number of sectors are there to involve. Because different types
of industries are establishing Day by Day. So it’s a great opportunity to grab these
sectors and to enter these sectors by capturing these entrepreneurs.

34. Threats:
Upcoming Insurance Company s/Branches:
The upcoming private, local, & multinational Insurance Company s posse’s
serious threats to the existing Insurance Companying network of Reliance
Insurance Company. It is expected that in the next few years more commercial
Insurance Company s will emerge. If that happens the intensity of competition will
rise further and Insurance Company s will have to develop strategies to compete
against and win the battle of Insurance Company s.
Similar products are offered by other Insurance Company s
Now-a-days different foreign and private Insurance Company s are also offering similar
type of products with an almost similar profit margin. So, if all competitors fight with the
same weapon, the natural result is declining profit.
Political In sustainability:
Due to the political In sustainability the situation of the country doesn’t remains stable.
And this is a great threat for expanding or operating the business activities. If political
violence continues the overall situation of the economy goes down and economic growth
begins to slow down. And this is a great threat for expanding the business.

35. Changes in Government Policies and Regulatory Authority
Changes In government policies are a great threat for the business. New policies or
changes in tax patterns cause a great threat for the business. Besides that the New
policies taken by IDRA ( Insurance Development & Regulatory Authority Bangladesh)
are also a great threat for the business. As for example: now a days Commission system
has reduced to only 15% By IDRA for which company is loosing their customers.
Besides that increase in government Taxes and VAT are also the threats.
Recommendations
Good Communication has to be build up to grab the new customers and also with the
existing customers.
Marketing Sectors should be developed more strongly by providing skilled and efficient
employees.
More Dynamic and efficient employees should be hired or appointed to the marketing
sector.
E-Business facilities should be widen up.
Premium charges should be more favorable.

36. Conclusion
• A lot of new commercial Insurance Company has
been established in last few years and these
Insurance Company s have made this sector very
competitive. So new Insurance Company’s have to
organize their operations according to the need of
the market. Insurance Companying sectors no
more depends on a traditional method of
Insurance Companying. In this competitive world,
this sector has trenched its wings wide enough to
cover any kind of financial service anywhere in
this world. The major task for Insurance Company
s to survive in this competitive environment is by
managing its assets and liabilities in an efficient.