Janata Insurance Company Limited. (JICL) a first-generation Non-Life Insurance Company in the private insurance sector. The company was incorporated and commenced its business as a public limited company under the Companies Act 1994 on 23rd September 1986 with a view to run all types of Insurance business except Life-Insurance as per the Insurance Act, 1938 (subsequently repealed by the Insurance Act 2010) in Bangladesh. JICL commenced its business operations on November 6, 1986, after obtaining a registration certificate from the office of the then Chief Controller of Insurance (CCI). JICL ventured its operation with a paid-up capital of Taka 30.00 million and authorized capital of Taka 100.00 million sponsored by a group of leading entrepreneurs/industrialists of our country having involvement in various socio-economical sectors. By the passage of time, the Authorized and the Paid-up capital of the company have been enhanced to Taka 1000 million and Taka 422.84 million respectively by December 31, 2020.
The Company was Initial Public Offered in 1994 and raised its paid-up capital by issuing rights shares in the year 2011. The Company’s ownership is prudently distributed to Sponsor Directors 38.66%, Government 0%, Institute 9.12%, Foreign 0%, and General Public 52.22% on December 31, 2020.
The Board of Directors comprises a good number of eminent entrepreneurs and personalities of the country. Members of the management team are highly qualified professionals. The Board is chaired by Mr. Zafrul Islam Chowdhury and steered by Mr. Md. Abu Bakkar Siddique as the Chief Executive Officer of the Company. The future plans of the company include the increase in business volume by opening new branches and hiring potential manpower with technical know-how in the Non-Life Insurance business arena, implementing progressive marketing strategies, and rendering quality services.
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