Asia Pacific General Insurance Company Limited is one of the third generation private sector’s Non-Life Insurance Company in Bangladesh and was established & incorporated as a Public Limited Company on November 17, 1999. The Company obtains registration from Insurance Development and regularity Authority (Former Chief Controller of Insurance) on May 4, 2000 and started business operation in the middle of 2000 A.D. with a view to provide maximum security at a minimum cost and prompt settlement of claims to its Clients.
Mr. AHM Mustafa Kamal, FCA, MP., the Founder Chairman formed the Company along with some other distinguished entrepreneurs with a paid up capital of Tk. 7.0 crore. Mr. AHM Mustafa Kamal, FCA, MP acted as the Chairman of the Company from 2000 to 2010 and thereafter, Mr. Aftab ul Islam, FCA a renowned business personality was unanimously elected as the Chairman and leading the Company till to date.
The current authorized capital of the Company is Tk. 1000 million with paid up capital of Tk. 423 million. The Company open branches in almost all the renowned business centers in Dhaka city and other districts of the Country and established a network all over the country to provide prompt services to wider group of clientele to their best satisfaction.
The Company has extensive Re-insurance treaty agreement up to any amount with Shadharan Bima Corporation (SBC) through surplus, CAT XL and facultative Re-insurance treaty. Under these agreement the Company are in position to underwrite any amount of business with confidence to meet the various needs of its valued Clients.
Settlement of Claims is the prime object of the Company. Prompt settlement of claims is avowed motto under which the Company became a symbol of trust and security through efficient and dedicated services to its insured and stakeholders. Normally the Company settles claims within a shortest possible time subject to receive of required documents and assessment from the surveyors.
Vision
To become an insurer of prime choice & trust in Bangladesh with the reputation of secured & professionalized insurance services to the clients & the stakeholders.
Mission
- To ensure steady growth of the Company.
- To provide qualitive insurance service with maximum security and risk mangement solutions to the Insured/Clients.
- To provide maximum return to the Shareholders.
- To become an organization of job satisfaction to the employees.
- To invest in professional education & training for the development of human resources and corporate culture.
- To serve the nation through active participation in the development of economy.
- erve the nation through active participation in the development of economy.
Strengths & Challenges
Strengths:
- Experienced management personnel.
- Strong marketing and distribution network.
- Diversified investment portfolio.
- Improving underwriting performance.
- Increased profitability.
- High solvency ratio.
Challenges:
- High management expense.
- Small market share.
- Exposed to capital market investment risk.
- Strong market competition.
- Compliance of new Insurance Act.
CORE VALUES & PRINCIPLES
INTEGRITY
We are devoted and sincere in everything we do. We are committed to prove ethical standard and fair activities remains at every level of our Company.
TRUST
We work diligently to build a deeper level of Trust with our Clients & Stakeholders by providing value added services.
TEAM WORK
We believe that highly qualified and motivated professionals team work in an entrepreneurial environment results in achieving vision & mission of goal. As such APGIC bound by Teamwork environment.
TRANSPERANCY
We are focused on the highest level of transparency. We exhibit timely accurate information about Company’s performance and financial results to meet the Stakeholder’s expectation.
EXCELLENCE
We aspire to achieve excellence in all that we do. We deliver what we commit and add value that goes beyond expectation. We pursue continued growth and strive to achieve the highest level of performance endeavors.
RESILIENCE
We well come challenging services to show strength of ability, even the jobs are high risk oriented. We see risk & difficulty as an opportunity to demonstrate our ability.
CORPORATE GOVERNANCE
We are committed to implement good Corporate Governance practices to provide best services & relationship with the stakeholders, clients, employees of the Company and the Board & Management of the Company as well as to achieve the goal of the Company.
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