Khawja Manzer Nadeem
Managing Director & CEO
United Insurance Company Limited (UICL) started its journey in the year 1985 with a sole aim of extending quality of services of international standard to the insuring community of Bangladesh. It is the only insurance company in Bangladesh having linkage with the associates of U.K based group known as Camellia Plc of U.K (camellia.plc.uk). M/s. Duncan Brothers (Bangladesh) Ltd, an associate of the Camellia Plc. U.K. is one of the sponsors and a major shareholder of UICL. UICL is one of the sponsors and a major shareholder of United Finance Ltd, a leading non-banking financial institution operating in Bangladesh. UICL started its operation with a paid-up capital of Tk. 30 million, which now stands at Tk. 400 million.
The Company underwrites all classes of non-life insurance business. It has earned a good reputation amongst the insuring community of the country for its high underwriting standard, prompt settlement of claims and its ability to provide technical support and guidance to its clients to their entire satisfaction. The main motto of the Company is to provide maximum protection to the clients at a minimum cost and abide by the rules set by the Regulatory Authority, IDRA. Because of its selective underwriting, the premium income of the Company is modest, but shows a progressive growth and at the same time generates a steady underwriting profit every year.
UICL places 50% of its re-insurance portfolio in the local re-insurer as per law of the land and the rest voluntary 50% with a panel of five overseas re-insurers having high rating in the world market of the re-insurance.
UICL believes in maintaining the highest standards of corporate business ethics and is transparent in all its dealings with the insured as well as with the re-insurers. The policy of UICL is now emblem complete safety and security maintaining all ethics of international standard in insurance and re-insurance matters.