Karnaphuli Insurance Company Limited was established on 23rd November 1986 as a public limited company under the Companies Act of 1913. It started operations just two days later, with the approval to conduct general insurance operations. The company's founding was backed by a distinguished group of businessmen, industrialists, and journalists.
Since its inception, Karnaphuli Insurance Company Limited has positioned itself as a leading first-generation Non-life Insurance Company in Bangladesh. With a solid capital base, the company has adhered to ethical business practices, excellent corporate governance, and superior underwriting skills.
The company commenced operations with a paid-up capital of Tk. 3.00 crore and authorized capital of Tk. 30.00 crore. Over the years, the paid-up capital increased to Tk. 44.87 crore through public offerings and stock dividends. On 3rd October 2010, the face value of shares was revised from Tk. 100 to Tk. 10.00, and market lot size adjusted from 20 to 200 shares. As of the end of 2022, the company's shares are listed under the A category on the Dhaka Stock Exchange.
The Board consists of 13 directors as of 31st December 2023, including three independent directors. Mr. Nizam Uddin Ahmed serves as the Chairman, a prominent figure with extensive leadership in various top-tier institutions.
Karnaphuli Insurance maintains a stable outlook with credit ratings of AA+ and ST-2 for long and short term respectively, reflecting its efficient premium collection, satisfactory dividend policy, and speedy claim settlements.
The company operates through 30 branches across Bangladesh, with the head office located in Dhaka. All types of business are underwritten directly by the branches, which are closely monitored and guided by the head office.
Karnaphuli Insurance is dedicated to managing key strategic concerns with initiatives that ensure high-quality, consistent growth and financial stability. Its strategies include leadership transitions, cluster management initiatives, and extensive reinsurance coverage.
Our strategic approach is designed not just to navigate the present but to pave a stable path into the future. By aligning our operations with these core principles, we ensure Karnaphuli Insurance not only thrives as a business but also contributes positively to the communities we serve and represents a model of sustainable, ethical insurance practice.
CORPORATE INFORMATION | ||
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Name of the Company | Karnaphuli Insurance Co. Ltd. | |
Date of Incorporation of the Company | 23rd November, 1986 | |
Registration Number | C-17002 of 1986-1987 | |
Date of Registration | November 25, 1986 | |
Obtained Certificate of Commencement of Business | November 23, 1986 | |
Nature of Business | Non-Life Insurance Business | |
Authorized Capital | 600.00 Million | |
Paid up Capital | 44.87 Million | |
Publication of Prospectus | December 18, 1994 | |
Subscription Opened | December 29, 1994 | |
Subscription Closed | January 07, 1995 | |
Amount of public subscription | Tk. 30.00 Million | |
Amount of total subscription received | Tk. 300.00 Million | |
Listed with Dhaka Stock Exchange | March 20, 1995 | |
First trading of shares on Dhaka Stock Exchange | March 20, 1995 | |
First A.G.M. of public shareholders | August 09, 1995 | |
Dematerialization of shares | April 16, 2006 | |
Rights share issued | April 21, 2010 | |
Change in the denomination of Face Value (BDT 10/-) and Market Lot(From 20 to 100) |
October 03, 2010 | |
Tax Payers Identification Number(ETIN) | 121758563184 | |
VAT Registration Number | 002028401-0202 | |
BIN Registration Number | 002028401-0202 | |
Number of Branches | 31 | |
Number of Share Holders | 8,816 | |
Number of Employees | 314 | |
Purchase of commercial plot at Motijheel, Dhaka 1000 | April 30, 1998 |
Legal Partners | ||
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External Auditor | A. Wahab & Co. Chartered Accountants, Hotel Purbani Annex-2, 4th floor 1, Dilkusha C/A, Dhaka-1000. | |
Corporate Governance Compliance Auditor | Hussain Farhad & Co. Chartered Accountants, House #15, Road #12, Block #F, Niketon, Gulshan, Dhaka-1212. | |
Credit Rating Company | Alpha Credit Rating Limited | |
Tax Adviser | ADN Associates, 176, Bijoy Nagar, Dhaka. | |
Banker | Dhaka Bank PLC, AB Bank PLC, NCC Bank PLC, Bank Asia PLC, Brac Bank PLC & Islami Bank Bangladesh PLC. |
Meghna Life-Karnaphuli Bima Bhaban (12th-13th floor) 11/B & D, Toyenbee Circular Road Motijheel C/A, Dhaka-1000.
Phone: 02-2339564808-9
Fabx: 01816-335503
E-mail: info@kiclbd.com
Meghna Life-Karnaphuli Bima Bhaban (12th-13th floor) 11/B & D, Toyenbee Circular Road Motijheel C/A, Dhaka-1000.
Phone: 02-2339564808-9
Fabx: 01816-490298
E-mail: info@kiclbd.com
Meghna Life-Karnaphuli Bima Bhaban (13th floor), 11/B & D, Toyenbee Circular Road, Motijheel C/A, Dhaka-1000
Phone: 09617-000200 Ext-210
Fabx: 01914-688485
E-mail: kicl.it@kiclbd.com
Meghna Life-Karnaphuli Bima Bhaban (13th floor), 11/B & D, Toyenbee Circular Road, Motijheel C/A, Dhaka-1000
Phone: 02-2339564808-9
Fabx: 01911-263981
E-mail: kiclshare@yahoo.com