United Insurance Company Limited (UICL) is a leading publicly listed non-life insurance provider in Bangladesh. Since its establishment in 1985, the company has upheld traditional values in insurance while continuously adapting to meet the evolving demands of the market.
UICL began operations the same year it was founded and has grown into one of the foremost first-generation non-life insurance companies in the country. The company is known for its strong financial foundation, technical expertise, and solid reputation in the industry.
Initially, UICL maintained a multinational affiliation with Camellia Plc (UK) through its associate Duncan Brothers (Bangladesh) Ltd. Over time, however, the ownership structure shifted significantly. The shares held by Duncan Brothers and its affiliates were acquired by the sponsor directors and their family members key figures behind the renowned United Group.
In 1990, UICL achieved a significant milestone by being listed on the Dhaka Stock Exchange Plc, enhancing its corporate transparency and governance framework.
Financial Snapshot (latest available data):
Authorized Capital : BDT 500.00 million
Paid-up Capital : BDT 445.00 million
Market Capitalization : BDT 1,562.00 million
UICL offers a comprehensive suite of general (non-life) insurance products tailored to meet the varied needs of individuals and businesses, including:
Motor Insurance, Fire Insurance, Marine Cargo Insurance, Health Insurance, Overseas Mediclaim Insurance, Personal Accident Insurance, Burglary Insurance, Money Insurance.
The company is well-regarded for its high underwriting standards, efficient claims processing, and dependable technical support to clients.
Reflecting its financial strength, liquidity, underwriting performance, and risk management, UICL has been awarded an “AAA” credit rating by Credit Rating Information and Services Limited (CRISL), a premier credit rating agency in Bangladesh.
UICL is also a sponsor and major shareholder of United Finance Limited, one of the country’s leading non-banking financial institutions.
Through prudent risk selection, the company maintains a modest premium income while consistently delivering underwriting profits and favorable outcomes for reinsurers. To ensure secure coverage for high-value risks and prompt claims resolution, UICL places 50% of its reinsurance portfolio in overseas markets with reputable, rated reinsurers, who have expressed satisfaction with UICL’s professionalism and efficiency in managing reinsurance accounts.
UICL upholds strong corporate ethics and transparency in all operations. A policy with United Insurance Company Limited stands as a commitment to safety, reliability, and trust.
