United Insurance Company Limited (UICL), established in 1985, has a small Board of Directors consisting of 9 members possessing a wide range of experience in different professional fields. UICL is the only insurance company in Bangladesh having linkage with the associates of the Camellia Plc of U.K. (www.camellia.plc.uk). M/s. Duncan Brothers (Bangladesh) Ltd, an associate of the Camellia Plc. U.K. and Camellia Plc U.K. are the major shareholder of UICL.
United Insurance Company Limited has an authorised capital of Tk 500 million, of which Tk 400 million has been fully subscribed and paid-up by its shareholders. UICL is one of the sponsors and a major shareholder of United Finance Limited, a leading non-banking financial institution operating in Bangladesh.
Considering UICL’s sound financial performance, high solvency margin, good liquidity, prudent underwriting, diversified ownership pattern, very high claim paying ability, strong protection factors, the Company has been awarded ‘AA+’ Credit Rating by Credit Rating Information and Services Limited (CRISL), one of the accredited Credit Rating Agencies of Bangladesh.
United Insurance Company Limited underwrites all classes of non-life insurance business, including non-traditional insurance like Health and Overseas Mediclaim insurance.
The Company has earned a good name among the insuring circles of Bangladesh and abroad by virtue of its high underwriting standard, prompt settlement of claims and its ability to provide technical support and guidance to its clients. Because of its selective nature of underwriting, the premium income of the Company is modest, but it has generated a steady underwriting profit every year and has produced profitable results for the reinsurers since its inception.
With a view to ensuring prudent underwriting of large risks of high value and expeditious settlement of claims, the Company places 50% of its re-insurance portfolio in the overseas market with leading re-insurers of repute. Our overseas re-insurers are very satisfied with UICL’s way of maintaining re-insurance accounts and speedy settlement of dues.
United Insurance Company Limited believes in maintaining the highest standards of corporate business ethics and is transparent in all its dealings with its clients. A policy with UICL ensures complete safety and security.