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Federal Insurance Company Ltd

Origin of the report:

This report has been prepared as the course requirement of the BBA program of Dhaka City
College under the National University. Mr. Shahinur Sobhan, the course teacher of nsurance
! "isk #anagement.$ assigned us to prepare this report on %ederal nsurance Company for
making our better understanding about the insurance business. &e tried our level best to
undertake the field study very consciously and definitely en'oyed our (ork. t has helped us to
understand the theoretical part more easily and in our future career. &e believe$ this field study
(ill contribute a lot .This report is submitted to our honorable principal of our college$ Professor
Md. Shahahan !han to 'ustify our findings and rich us (ith his valuable comments and
Obecti"es of the report
). The main ob'ective is to kno( the overall process of an insurance Company.
*. To add value to life.
+. To gather the practical e,perience about the activities of an insurance Company.
-. By this study (e can analy.e the original current situation of insurance Companies/ in
0. To kno( the revenue gro(th$ earnings !cash generation of the insurance Company.
1. To outperform the peers in terms of longevity.
2. A presentation is requires to do in front of students and faculty members.
3. t (ill be helpful for our later study.
4. t (ill be helpful for us later in (orking field.
Scope of the report
This report is the part of the insurance sector that (e are studying in our B.B.A course. The
ob'ective of the report is to give the practical vie( about the insurance practices of Bangladesh
that provides facility to the ends of individual to transform our modern social order.
Methodology of the report
The nature of the study is descriptive and analytical. 5o$ it required direct intervie( and large
amount of information. 5uch as company overvie($ insurance policies ! conditions$ risk issues$
performance ! company analysis etc. %or that the follo(ing criteria have been follo(ed these6
7isit to a specific insurance company.
Take intervie( (ith higher officials of the 8rgani.ation.
9repared questioner provided to them and the collects primary data.
The secondary data (as collected from the internet$ and sample of document that is
related to the garments accessories.
Limitation of the report
n case of collecting the data$ (e faced a lot of problems. The limitations of the study that (e
faced in case of preparing the report are as follo(s.
Difficult to collect the information
5hortage of time6collected information (as comple, and unsorted.
Up to date information (ere not available.
:very organi.ation has their o(n secrecy that is not rivaled to others.
%inally first e,perience may also act constants in the (ay of meticulous e,ploration on the
Despite these limitations$ (e have tried our best to prepare the report. f you find any
mistakes please consider it cordially.
Company o"er #ie$
Company Profile
%ederal nsurance Company ;imited is a name in the field of nsurance ndustry in Bangladesh
representing a perfect combination of e,pert kno(ledge and diverse e,perience. The board of
directors of the company consists of leading industrialists$ e,porters$ importers and businessmen
of the country (ho play a ma'or role in the sphere of trade$ commerce and industry including
insurance business. The company (as registered on the ))th November$ )432 and obtained
nsurance "egistration Certificate on the )2th November and (as formally inaugurated on the
*<th December$ )432 for under(riting #arine$ %ire$ #otor$ 9ersonal Accident$ Aviation and
miscellaneous nsurances.
The vast e,perience of the members of the Board of Directors of the Company$ their financial
standing$ personal image and social status coupled (ith technically qualified$ highly e,perienced
and a dedicated management team has made this Company one of the leading private general
insurance organi.ations in this country (ithin a very short period.
%istorical &ac'ground
The company (as incorporated on )) November$ )432 under the Companies Act$ )4)+ (ith the
ob'ect of carrying in ! outside Bangladesh all kind of insurance business other than life
insurance ! obtained the Certificate of Commencement of business from the "egister of =oint
5tock Companies$ Bangladesh (ith effect from the same date. >o(ever$ the Certificate of
Commencement of insurance business from the Controller of insurance$ ?overnment of
Bangladesh (as obtained (ith effect from )2
November$ )432. n )440 the Company issued
public portion of shares ! (as listed (ith Dhaka 5tock :,change from *1
=une$ )440. The
Company (as also listed (ith Chittagong 5tock :,change %rom *<
November$ )440.
The mission of %ederal nsurance Company ;td. is to earn profit by giving best customer service.
To become most caring insurance company (ith dedication$ dynamic$ innovation ! client/s need
based on comprehensive service.
Their ?oal is to e,pand the business across the country ! become one of the market leaders.
The ob'ectives of the %ederal nsurance Company ;td. are given belo(@
To render best customer service.
To earn premium achieved by making customer satisfaction.
To play a ma'or role for the development of insurance industry.
To make the payment of claim quickly.
To e,pand company/s branch.
To increase volume ! company/s share.
Al(ays alive to the needs of the customer ! to fulfill their needs (ith satisfaction.
&oard of )irectors
Alha' Nurul Alam
Chairman, *+ecuti"e Committee
#r. :namul >oq
#ice Chairman
Alha' =ashim Uddin
Chairman, ,udit Committee
#r. =ainul Abedin =amal
5unanda #a'umder
#r. #ohiuddin Cho(dhury
Alha' "afiqul An(ar$ :,6#9
Alha' 5abirul >oque
#r. #d. Aakaria Bhan
#r. Anisul >oque
#r. %akhrul An(ar
#s. >asina Begum
#s. #amta. Begum
#r. Nasiruddin
#s. "okshana Cesmin
#r. Aahedul >oque
Independent )irectors
#r. A 5 =ahir #uhammad
National prof. Dr. # " Bhan
#r. #d. "afiqul slam
Managing )irectors
#r. A B # 5ar(ardy Cho(dhury
Company Secretary
#r. Abdul >aque %CA
Management -eam
Managing )irector, C*O :
A B # Cho(dhury 5ar(ardy
)eputy Managing )irector :
#r. Abdul >aque %CA
#r. =amal >ossain Bhuiyan
#r. #d. 5adaruddin
#r. #d. Nurul slam
#r. #ahabubul Alam
#r. #u'ibul &adud Cho(dhury
#s. %aridun Nahar
Senior *+ecuti"e #ice President :
#r. #ukbul Ahmed
#r. A B # 5hahabuddin Cho(dhury
#r. 5hamsuddin Ahmed
#r. 5imul Banti Barua
#r. Abdul #oqueet Cho(dhury
#r. qbal >ossain
#s. Nasima Bhanom Dana
*+ecuti"e #ice President :
#r. Taslim Bahar Cho(dhury
#r. #oslem Ali Bhan
#r. #d. "afiqul slam
#r. Ba.i 5haka(at >ossain
#r. ftekhar >ossain Cho(dhury
#r. #d. #orshed
Alha' #d. "afiqul slam
#r. #d >anif
#r. 5a.eed >ossain
Senior #ice President :
#r. #d. %akhrul slam Bhuiyan
#r. 5yed Anisul slam
#r. #u'ibul >asan
#r. #d. 5horiful slam
#r. De(an Abu 5aleh #oinuddin
#r. #s. Ayesha Begum
#ice President:
#r. #d. Aman Ullah
#r. Abu Bakar 5iddique
#r. Abul Balam
#r. "ea.ul >aque Bhandaker
#r. 5 # #d. A.imuddoula Bhan
&ranch .ame / ,ddress
&ranch .ame / ,ddress In charge
,damee Court &ranch
Adam'ee Court Anne,6*
))46)*< #oti'heel CDA$ Dhaka
Md. .urul Islam
Deputy #anaging Director

,grabad &ranch
Noor Chamber$ +- Agrabad CDA$
Md. Mahabubul ,lam
Deputy #anaging Director

,nder'illa &ranch Mu'bul ,hmed
5r. :,ecutive 7ice 9resident
3 ;al Dhigi :ast6 )st %loor$ Anderkilla

&angshal &ranch
*+< North 5outh "oad
Bangshal$ Dhaka
Faridun .ahar
Deputy #anaging Director

&ogra &ranch
Tin 9atty$ Borogola$ Bogra
Md. Monurul ,lam
Asstt. 7ice 9resident

Comilla &ranch
?oni Bhuiyan #ansion
#onoharpur$ Comilla
!a0i .a0mul
Asstt. 7ice 9resident

)e$anhat &ranch
4+<64+) 5k. #u'ib "oad
De(anhat$ Chittagang
,bdul Mo1eet Cho$dhury
5r. :,ecutive 7ice 9resident

)il'usha &ranch
*3 Dilkusha CDA
E2th %loorF$ Dhaka.
Deputy #anaging Director

)inapur &ranch
#aldah 9atty
?ourhatty$ Dina'pur
,0i0us Salam 2&a'ul3
Asstt. 7ice 9resident

*lephant 4oad &ranch
-- Ne( :lephant "oad
Md. I1bal %ossain
5r. :,ecutive 7ice 9resident
Dhanmondi$ Dhaka

Farmgate &ranch
4) Ba.i Na.rul slam Avenue
Ba(ran$ Dhaka
Md. Moslem ,li !han
:,ecutive 7ice 9resident

(aibanda &ranch
D.B "oad$ ?aibanda
!handa'ar Shamim ,hmed

%at'hola &ranch
Del(ar Comple,
*1 >atkhola "oad$ Dhaka
Md. Mominul Islam
:,ecutive 7ice 9resident

Imamgon &ranch
Al6%ala Building
)-- #itford "oad$ Dhaka
)e$ar ,.S. Moinuddin
5r. 7ice 9resident
5essore &ranch
+- #unicipal #arket E*nd %loorF
#istrikhana "oad$ =essore
Md. Shoriful Islam
5r. 7ice 9resident

5ubilee 4oad &ranch
Ali Building
*<<DB =ubilee "oad$ Chittagong
Md. Moa00am %ossain
5r. :,ecutive 7ice 9resident

5oypurhat &ranch
Thana "oad$ =oypurhat
Mamunur 4ashid Milton
Asstt. 7ice 9resident

!hatungon &ranch
*3-D*6*30D* Bhatungon'
Md. Muibul Cho$dhury
Deputy #anaging Director

!hulna &ranch
)-* 5ir qbal "oad E*nd %loorF$
S$adesh 4anan 4ay
5r. Asstt. 7ice 9resident

!ushtia &ranch
;ovely To(er E-th %loorF
00D)$ N$ 5 "oad$ Bushtia
,bul !alam ,0ad
7ice 9resident

Local Motiheel Office
Amin Court Est %loorF
1*61+ moti'heel CDA $ Dhaka6)<<<
, ! M Shahabuddin Chy.
5r. :,esutive 7ice 9resident

Moghba0ar &ranch
+*+D* Tongi Diversion "oad$ Dhaka
Md. Ifte'har %ossain Chy.
:,esutive 7ice 9resident

Munshigon &ranch
#ukterpur$ #unshigon'
Md. %afi0ur 4ahman

.a$abpur &ranch
*)) Na(abpur "oad E+rd %loorF$
Md. ,manullah
7ice 9resident

4ashahi &ranch
5hahed$ Boalia
Md. Mesbahul %o1ue

4angpur &ranch Md. 4ea0ul %a1ue !handa'ar
Asstt. 7ice 9resident
>oque 5uper #arket
5tation "oad$ "angpur

4omna &ranch
Chittagong 5amity Bhaban
+*$ Topkhana "oad$ Dhaka.
!a0i ,rifur 4ahaman
Deputy #anaging Director

Sylhet &ranch
Century 5hopping Center
Amberkhana$ 5ylhet
S. M. Md. ,0imuddoula !han
Asstt. 7ice 9resident

-ongi &ranch
A. >. To(er
Uttara$ Dhaka
,bul !alam Si'dar ,0ad
7ice 9resident

#IP 4oad &ranch
City >eart E)+th %loorF
12 Naya 9altan$ Dhaka
Md. Siraul Islam
5r. 7ice 9resident
Performance / (ro$th of the Company:

Capital Structure:
Capital / *+penditure
Authori.ed capital@ Tk. 1<$<<$<<$<<<DG
ssued$ subscribed ! paid up capital@ Tk. ))$*)$42$-<<DG
*+penditure 6787 6779
:,penses of management *$+1$-2$3+3 )$40$+4$*<<
Director/s fees 1$+<$<<< +$43$<<<
Audit fees *$1*$4<< )$+0$<<<
;egal e,penses 2$<4.013 1$43.<2-
9articulars *<)< *<<4 *<<3 *<<2 *<<1
?ross 9remium ncome *2).1* *01.+* *03.<1 **-.<- )44.*3
Net 9remium ;ess "e6nsurance )21.4< )03.4- )+1.+* )*3.-- 43.+1
Net Claims )1.23 )2.2* )).4- )1.-2 )0.4-
Under(riting 9rofit -2.3* -+.0* +0.<* *0.-< *).-+
nvestment ncome 4.<- 1.<3 0.3- 0.** +.-<
9rofit Before Ta, *-.3- **.<2 )1.+< )*.*2 *.0+
Dividend )+.-1+ )*.<*) 4.)<1 4.202 3.2)0
"ate of Dividend )*H )*H )<H )*H )*H
5hareholderIs :quity J )14.-) )0-.32 )-*.** )++.<* )*+.42
Total Assets 1-<.13 030.2+ 01<.)< 0*4.-4 0<+.+)
N8. of Branches *4 *4 +* ++ ++
N8. of :mployees -+3 -14 -+3 0<* -4)
N8. of 5hareholders 3-*) *-+2 ***0 )33- )2+4
5tatutory fees for business license
! annual registration 3$42$)<1 4$<+$**2
5ubscription ! other fees )-$-431< +$42$0<3
-otal 6:;9:6:6 667:8779
Although %ederal nsurance Co. ;td. s one of the leading companies in Bangladesh. But it also
has to face various challenges from much other general insurance company. The general
insurance companies are introducing ne( policies ! promotions to increase their popularity. 5o$
no(adays insurance company is getting much popularity. Customers or clients are becoming
interrelated to open policy because of the increase rate of uncertainty ! risk. %ederal nsurance
Co. ;td. is facing from K
)F Bangladesh ?eneral nsurance Co. ;td.
*F ?reen Delta nsurance Co. ;td.
+F =anata Nsurance Co. ;td.
-F 9urabi ?eneral nsurance Co. ;td.
0F 9hoeni, nsurance Co. ;td.
1F The City ?eneral nsurance Co. ;td.
2F :astern nsurance Co. ;td.
3F Northern ?eneral insurance Co. ;td.
4F 9eoples nsurance Co. ;td.
)<F 9ragati nsurance ;td.
))F Barnaphuly nsurance Co. ;td.
)*F #egna ?eneral nsurance Co. ;td.
)+F 9rime nsurance Co. ;td.
)-F 5tandard nsurance Co. ;td.
)0F "upali nsurance Co. ;td.
5o$ it means that %ederal nsurance Co. ;td. is facing by other insurance companies. They are
also introdusing ne( policies to increase their popularity ! acceptance to their clients or
Future Plans
The future plans of the %ederal nsurance Company ;td. are given belo(@
To set the non6traditional policy along (ith the traditional policy.
To provide the policies to the mass people of the country.
To e,ceed present target for better future profit.
To become one of the market leader.
To e,pand company/s business.
Insurance Policies / Conditions
Insurance Policies
There are different kinds of insurance policies that are maintained in %ederal nsurance Company
covering different perils. They are stated belo(@
). Fire / allied perils@ %ire$ "5D$ #alicious damage$ :arthquake damage$ %lood$ Cyclone.
*. Marine Cargo@ CC/A$ CC/B/$ CC/C$ &ar ! 5"CC ! other additional perils like non
delivery$ theft$ pilferage$ breaker age$ "ain (aterD%resh (ater $;orryD"ailDTruck all risk$ Air
risk$ Air all risk clauses enclosed.
+. Marine %ull@ Total loss only ! Comprehensive.
-. Motor ,ccident@ Third partyDAct ;iability ! Comprehensive.
0.Miscalleneous ,ccident@ Comprising of Burglary$ Cash6 in6 5afe$ Cash6 in6Transit$ Cash6 on6
Counter$ %idelity ?uarantee$ 9ersonal Accident$ &orkman/s Compensation$ Aviation$ Travel$
8verseas #edic aim$ >ealth insurance$ 9roduct liability CA"$:A"$#BD$D85$B97 etc.
5o$ these are above type/s insurance policies available for the insured in the company (hich
ensures better safety !certainty.
Policy conditions
The %ederal nsurance Company agrees sub'ect to the terms ! conditions contained herein or
endorsed hereon that if after payment of the premium the property insured or any part of such
property insured be destroyed or damaged by different perils. They are described belo(@
*lectrical clause ,
;iability for loss or damage to any electrical machine$ apparatus$ fi,ture or fitting Encluding
electric fans$ electric household or domestic appliances$ (ireless sets ! radiosF or to any portion
of the electrical installations$ arising from or occasioned by over running$ e,cessive pressure$
short circuiting$ arcing$ self6heating or leakages of electricity from (hatever causeElightening
*lectrical clause &
;oss or damage by fire to the electrical appliances ! installations insured by item of this policy
arising from occasioned by over running$ e,cessive pressure$ short circuiting$ arcing$ self6heating
or leakages of electricity from (hatever cause Elightening includedF.
). f there be any material misdescription of any property insured for estimating the risk or any
omission to state such fact$ the company shall not be liable upon this policy.
*. No payment in respect of any premium shall be deemed to be payment to the company unless
a printed form for the same signed by an official agent of the company shall have been given to
the insured.
+. The insured shall give a notice to the company of any insurance already effected ! the
particulars of such insurance be stated in or endorsed or on behalf of the company before the
occurrence of any loss all benefits shall be forfeited.
-. The insurance does not cover loss by@
A@ Theft during or after the occurrence of a fire.
B@ 9roperty occasioned its o(n fermentation$ natural heating or spontaneous combustion.
C@ :arthquake$ 7olcanic eruption or other convulsion by nature.
D@ &ar$ invasion$ act of foreign enemy$ hostelries etc.
0@f the property insured be collectively or greater value than the sum insured the insured shall be
considered as being his o(n insurer for the difference ! (ill bear a ratable proportion of the loss
Marine Cargo Policy:
). ;oss damage or e,pense attributable to (illful misconduct of the assured.
*. 8rdinary leakages$ 8rdinary loss in (eight or volume or 8rdinary (ears ! tear of the sub'ect6
matter insured.
+. ;oss damage or e,pense caused by inherent vice or nature of the sub'ect6matter insured.
-. ;oss damage or e,pense caused by delay$ delay caused by risk insured against.
0. ;oss damage or e,pense arising from insolvency or financial default of the o(ner/s manager/s
charterers pr operators of the vessel.
1. ;oss damage or e,pense caused by insufficiency or unsuitability of packaging or preparation
of the sub'ect6matter insured.
Marine %ull Policy@ #arine hull insurance covers loss of or damage to the sub'ect6matter
insured caused by@
a. 9erils of the inland rivers lakes or other navigable (ater.
b. %ire$ e,plosion.
c. 7iolent theft by persons from outside the vessel.
d. =ettison.
e. 9iracy.
f. Breakdo(n of accident to nuclear installations or reactors.
g. Accident in loading discharging or shifting cargo or fuel.
Motor Insurance Policy:
a. Notice shall be given to the insurer immediately upon the occurrence of any accident or loss or
damage ! in the event of any claim ! thereafter the insured shall give such information as the
insurer shall require.
b. f at the time any claim arises under this policy there is other e,isting insurance covering the
same loss the insurer shall not be liable to pay more than its ratable proportion of the loss.
C. The insurer shall take all reasonable steps to safeguard the motor vehicle from loss or damage
! he shall have all time ! full access to e,amine the motor vehicle$ any part$ and driver of the
d. No admission after promise or payment shall be made by the insured (ithout the (ritten
consent of the insurer.
e. The insurer may cancel the policy by sending 5ven days notice by registered letter to the
insured at his last ! in such event (ill return the premium less the pro rata portion.
Flood Clause@
a. The overflo(ing or deviation.
b. Any flo( or accumulation of (ater on the ground.
c. ;oss or damage by flooding caused :arthquake.
4iot / Stri'e *ndorsement@
a. ;oss or damage by delay$ loss of market.
b. ;oss or damage by total or partial cessation of (ork.
e. ;oss or damage occasioned by permanent or temporary dispossession.
f. ?oods held in trust or commission.
g. Any curiosity or (ork of art for an amount e,ceeding taka *0<D6.
h. securities$ obligations or documents$ stamp$ coins or paper money cheques$ books of account
or other business books.
5o$ these are the conditions that are given as important clauses in various policies.
Contents of ,greement
n %ederal nsurance Company there are a lot of things that are included in an agreement of
insurer ! insured (hich are kno(n as contents of agreement. t includes detail information of the
insurance contract. They are described belo(@
Fire@ Agreement of fire insurance include detail about the insured such as name$ address$ trade
of profession$ amount to be insured$ detail about the asset insured such as situation$ construction$
occupation$ lighting$ heating$ po(er ! storage$ amount of premium ! other general information
! at last the signature of the proposer ! date.
Marine Cargo@ The contents of the marine cargo are name ! address of the assured$ detail
about the vessel$ sailing date$ bill of lading$ voyage or period of insurance$ sub'ect matter
insured$ amount of premium $agreed valueEif anyF amount insured hereunder$ clauses$
endorsements$ special conditions$ (arranties ! important notice at last the signature of the
proposer ! date.
c. Marine %ull: The contents of the marine hull are o(ners name ! address$ name ! registered
no of the vessel$ general description of the vessel Econstruction$ length$ depth$ draft etcF$carrying
capacity$ gross tonnage$ net tonnage$ present general condition of the vessel$ details of
machinery E>orse po(er$ age of engine$ speedF$purpose of vessel to be used$ time of vessel
surveyed$ period of survey certificate$ total premium ! claim paid for all vessel/s$ value to be
insured$ period of voyage$ name !e,perience of the captain ! signature of the proposer ! date.
d. Motor insurance@ The contents of the motor insurance are name$ address$ business of the
proposer$ particulars of the vehicle such as registration number$ po(er capacity$ year of
manufacture$ license$ about previous insurance$ detail about full insured value$ total premium
5o these are the essential contents that are necessary to form a contract bet(een the insurer !
*lements of insurance contract
The elements of insurance contract include both the elements of general ! special contract. They
are described belo(@
Elements of general contract
t includes all the elements that are required to form the entire contract (hich make the contract
enforceable by a court of la(. They are@
8. -$o or more parties@ To form a contract there must be the presence of t(o or more parties. A
contract can/t be formed by single parties.
6. Offer / acceptance@ There must be a la(ful offer by insured ! a la(ful acceptance of the
offer by the insurer.
=. La$ful consideration@ The promise to pay a fi,ed sum at given contingency is the insurer
(ho must have some return for his promise. t may be sums$ right$ interest$ profit etc.
>. Competent to ma'e contract@ The parties to the contract must be competent to make a
contract it cannot be enforced by a court of la(.
;. Free consent@ n order to be enforceable a contract must be based on the free consent of all the
parties other(ise it (ill be a void contract if it is given by coercion$ undue influence$ mistake$
fraud$ misrepresentation.
?. Legal obect: The ob'ect for (hich the contract has been entered must be legal other(ise it
(ill be illegal immoral or opposed to public policy.
Elements of special contract
t includes all the elements that are required to form an insurance contract specially. They are
described belo(@
8. Insurable interest@ The insurer should have a pecuniary or financial or monetary interest in
the sub'ect matter to be insured. %or e,ample one person may have insurable interest on his o(n
lifeL importer has insurable interest on the goods imported.
6. @tmost good faith@ According to this element both the parties to the insurance contract must
disclose all the material fact to the risk voluntarily to each other. Any breach of this duty shall
render the contract voidable.
=. Indemnity: ndemnity implies that the insurer undert1akes to put the insured in the same
financial position as he occupied before incurring the loss.
>. Subrogation@ 5ubrogation refers to the right of the insurer to stand in the place of the insured
after the settlement of claim$ so far as the insured/s right of recovery from alternative source is
;. Aarranties: Aarranty is very important condition in the insurance contract (hich is to be
fulfilled by the insured. f (arranties are not follo(ed the contract is cancelled by the other party
(hether risk has occurred or not.
?.Pro+imate cause@ 9ro,imate cause means the active$ efficient cause that sets in motion a train
of events (hich bring about a result $(ithout the intervention of any force started ! (orking
actively from a ne( ! independent source.
:. ,ssignment / nomination@ #arine ! life policies can be freely assigned but assignment fire
! accident policies are not valid (ithout the prior consent of the insurer6e,cept changes of
interest by (ill or operation of la(.
B. 4eturn of premium@ 8rdinarily the premium once paid cannot be refunded. >o(ever$ the
refund is allo(ed.
A@ Non attachment of risk.
B@ Undeclared balance of an open policy.
C@ 9ayment of premium is apportioned etc.
5o an insurance contract must have the above elements in order to make it la(ful other(ise it
may be regarded as a voidable contract at the opinion of the aggrieved party.
4is' Issues of Federal Insurance Company
"isk is a concept (hich relate to human e,pectation. t denotes to a potential negative impact to
an asset or some characteristics of value that may arise from some present process or from future
9eople e,press risk in different (ays. To some$ it is chance or probability of loss$ to othersL it
may be uncertain situation or deviations or (hat statisticians call dispersions from the
e,pectation. n most of the terminology the term risk include e,posure to adverse situation.
"isk is therefore incidental to life. 5ome people live dangerously. &hile others e,ercise is
e,treme caution. Nevertheless$ the happing of fortuitous events or element cannot be avoided$
although its effect may be either good or bad.
-ypes of 4is'
4is's in @nder$riting Indi"idual accounts
A non6life insurance company is in the business of assuming risk from individuals and
businesses. Under(riting is the discipline of understanding and evaluating (hich risks to
intentionally assuming. unintended under(riting risk and the risk to the enterprise
from unintended risk accumulations is generally a responsibility shared bet(een Under(riting
and "isk #anagement EM"#NFL both disciplines are critical.
The under(riting function needs to ensure that a robust infrastructure is in place so (hen
individual accounts are under(ritten the under(riter has@ adequate information on the risk$ such
that the e,posures can be reasonably kno(n and understood$ the skills and e,perience required to
analy.e the risk$ and the ability and incentive to design coverage and price the account properly.
Under(riting authority needs to be granted based on skills and e,perience and not on managerial
hierarchical level. "eferral authorities need to be in place$ as (ell as effective auditing to ensure
compliance (ith delegated authorities$ in order to minimi.e opportunities for MrogueN activities.
The under(riting infrastructure also needs to provide training and oversight such that applicable
la(s$ statutes$ regulations$ filings and so forth are rigorously follo(ed. Adherence to filed rates$
forms and similar measures is intended to reduce the opportunity for money laundering$
terrorism funding$ and so forth$ and to ensure that customers are treated fairly.
Concentration 4is' from CreditC4elated *+posures
Another aspect of concentration risk arises from multiple financial6related e,posures to an
individual policyholder. A significant event$ such as a fraud or severe do(nturn in profitability$
might lead to losses from a D!8 policy$ surety and fiduciary coverage/s$ andDor financial
guarantees$ plus losses on any debt or equity investments$ securities lending$ reinsurance
recoverable from a captive$ and e,posure as a counterparty to a derivative transaction. n
addition$ third6party liability andDor retrospectively rated insurance programs may generate
e,posure due to large deductibles$ retrospective premium ad'ustments or other credit risk.
4einsurance 4is'
"einsurance is a (idely used and valuable tool for mitigating peak risks on both individual
accounts and portfolios. nherent in reinsurance are several risks of concern to the "isk 8fficer.
%irst and foremost "# must be attentive that the reinsurance purchased is actually providing the
appropriate coverage to mitigate the peak risks. n this regard$ there needs to be strong
communication bet(een under(riting and the reinsurance buying function to ensure that
under(riters are a(are of the provisions of the reinsurance treaties being purchased. n
particular$ a(areness of e,clusions or special acceptance criteria is vital. 8n the facultative side$
under(riters or facultative buyers must be trained to have coverage afforded by the facultative
reinsurance be concurrent (ith the terms of the underlying policy.
The insurance enterprise is e,posed to various risks (hen purchasing reinsurance. These
include@ Credit "isk$ "egulatory "isk$ 8perational "isk Eincluding Non6Concurrency
Ementioned aboveF ;ack of Contract Certainty$ and AccountingDTa, "iskF and potentially
"eputational "isk.
Credit risk has numerous aspects (hich must be managed. The starting point is the assessment
of the credit (orthiness of the reinsurer. This process generally leads to an Mapproved listN of
acceptable reinsurers and a limit on the aggregate credit e,posure to an individual reinsurer
(hich is linked to its credit rating. "einsurance may be purchased locally on a facultative basis
by under(riters for individual accounts (ith peak e,posures and also in multiple business offices
on a portfolio$ or treaty$ basis. "# needs to ensure that adequate controls are in place so
accumulations by reinsurer are monitored (ith actions taken to mitigate peak e,posures.
Accounting risk arises as accounting for reinsurance transactions can be comple,. "einsurance
transactions need to have risk transfer characteristics in totality support insuranceDreinsurance
accounting Eto be included in financial results as reinsuranceF and these characteristics need to be
appropriately analy.ed and documented. n particular$ the accounting must consider all aspects
of the agreement$ including any (ritten or verbal side agreements
*merging 4is's
:merging risks are e,posures (hich may develop or already e,ist. They are difficult to quantify$
may have a high loss potential and are marked by a high degree of uncertainty. "isks involving
emerging technologies or environmental changes require identification$ assessment$ monitoring
and mitigation. :,amples of such emerging risks (ould include nanotechnology$ pandemics$
genetically modified foods$ changes in (eather patterns$ and so forth. "# needs to ensure that
Under(riting identifies coverage triggers$ lines of business potentially e,posed$ limits$
accumulation potential across lines of business and policy years$ reinsurance applicability and
monitors developments broadly in the insurance$ healthcare and legal arenas. #itigation actions
need to be agreed (ith Under(riting regarding coverage$ limit and volume restrictions$
reinsurance protection and monitoring of potential accumulations. "# is a key driver in
determining the importance of identifying emerging risks$ designing actions to contain
unintended accumulations and monitoring that risk measures are effectively in place.
Correlated 4is'
Assessing the degree of correlation bet(een lines of business and for each line to other risk types
is a critical requirement. t is necessary to determine risk capital and optimi.e the mi, by line$
limits e,posed and volume in order to minimi.e required capital through diversification.
"elevant e,perience may (ell be very limited for correlations$ especially at the critical
stress levels most important to risk capital determinations. >ence$ "# generally needs to (ork
closely (ith Under(riting to 'udgmentally assess and agree the degree of correlation.
4is's in the @nder$riting DCycleE
9rice levels in non6life insurance tend to move in multi6year cycles as the result of varying levels
of industry capital$ economic outlook$ competition and similar considerations Esee diagram
belo(F. Theoretically$ an actuarially correct price for each account can be consistently
determined based on desired "8: and anticipated loss trends. Actual prices$ terms and
conditions (ill deviate from the actuarial price based on marketplace conditions.
ncreased risk results from a failure to systematically measure deviations from the actuarial price
and to fully recogni.e such deviations in current financial results$ particularly during times (hen
marketplace pricing is less than the actuarial price. "# needs special attention that actual
pricing$ terms and conditions are monitored and that loss reserves and current financial results
reflect deviations from actuarial pricing. "isk capital is required for uncertainty in this
measurement due to the increased risk of understated loss reserves and added volatility as a
-op ten ris's facing by the company:
). Climate change@ long6term$ far6reaching and (ith significant impact on the industry.
*. Demographic shifts in core markets@ offers business opportunities but risk that other sectors
(ill capitali.e first.
+. Catastrophic events@ rising costs and serious impact on earnings for insurers.
-. :merging markets@ risk and opportunity but competitive threat from ne( players.
0. "egulatory intervention@ increased scrutiny impacting on operations and practices.
1. Channel distribution@ technology is changing the (ay insurance is sold and purchased.
2. ntegration of technology (ith operations and strategy@ an enabler to keep pace (ith
competition but lack of integration is a threat at the strategic business level.
3. 5ecurities markets@ changes in capital providers and the (ay capital is entering the insurance
industry are causing ma'or changes in the industry.
4. ;egal risk@ significant and une,pected change in the legal environment$ such as government
legislation or evolving case la($ (ill continue to have a critical impact on the insurance industry.
)<. ?eopolitical or macroeconomic shocks@ likely causes unkno(n but consequences potentially
4is' Management -ools
The follo(ing tools are used in federal insurance to manage risks6
8. Large number of e+posure units:
The theory of insurance is based on la( of large numbers. Thereof the prime necessity for a risk
to be insurable is that there must be a sufficient large number of homogenous e,posure in order
that losses reasonable predictable.
Also$ the probabilistic estimates used by the insurance company$ by logic$ assume large number
of units in a distribution and insurance products are priced accordingly.
6. )efine and measurable 2calculable3 loss:
The losses are fairly predictable and can be measured in the money terms. ;oss of peace of mind$
tension etc. or loss of life cannot be cannot be indemnified.
=. )eterminable probability distribution:
The probability distribution of happening of adverse event is determinable. This is necessary to
establish the free premium according the theory of equivalence. f there is not determinable
distribution$ there is no question of issuing a cover by an insurance company.
>. 4andom 2fortuitous3 loss:
The adverse event may or may not occur in future and once (hich the insurance company has
not control. Naturally$ if the event is non6random or the loss has occurred in the past$ there is no
question of insurance. And also$ it is important to note that under(riters (ho guard against
adverse selection6 the tendency of poorer than average insured to seek or continue insurance
coverage ensure randomness.
;. .onCcatastrophic loss:
The losses should be non6catastrophic. Not all the units in a homogenous group (ill be sub'ect to
an adverse event. "ecall that if all the units meet losses$ the company (ill be ruined only fe( out
of a large group (ill be e,posed.
?. Premium should be economically feasible:
5ince insurance pool is structured to be sufficiently large$ the price charge by the insurer for
buying the risk is generally lo(. t should be sufficient to cause the rich for the insurer as (ell as
visible for the insured.
4is' management process
8. *stablish the conte+t:
:stablish the conte,t include planning and remainder of the process and mapping out the scope
of e,ercise the identity and ob'ectives of stakeholders$ the basis upon (hich risk (ill be
evaluated and defining a frame(ork for the process$ and agenda for identification and analysis.
6. Identification:
After establishing the conte,t$ the ne,t step in the process of mapping risk is to identify potential
risks. "isks are about events that$ (hen triggered$ (ill cause problems. >ence$ risk identification
can start (ith source of problems or (ith the problems itself.
). 5ource analysis
*. 9roblem analysis
+. :vent
The several of risk identification are@
). Checklist method
*. %inancial method
+. %lo(chart method
-. 8n6site inspections
0. nteraction (ith others
1. Contract analysis
2. 5tatistical record of losses
=. ,ssessment:
8nce risk has been identified they must then be assessed as to their potential severity of loss and
to the probability of occurrence. These quantities can be either simple to measure$ in case of the
value of a lost building$ or impossible to kno( for sure in the case of the probability of an
unlikely event occurring. The fundamental difficulty in risk assessment is determining the rate of
occurrence since statistical information is not available on all kinds of past incidents. Numerous
different formulas e,ist$ but perhaps the most (idely accepted formula for risk qualification is
4ate of occurrence.
>. Potential ris' treatment:
8nce the risk have been identified and assessed$ all techniques to manage the risk fall into one or
more of these four ma'or categories@
). "isk transfer
*. "isk avoidance
+. "isk retention
-. "isk control
,. 4is' transfer:
"isk transfer means that the e,pected party transfers (hole or part of losses consequential risk
e,posure to another party for a cost. Apart from insurance device there are some other techniques
by (hich the risk may be transferred.
&. 4is' a"oidance:
Avoid the risk or circumstances (hich may lead to losses in another (ay$ includes not
performing an activity that could carry risk.
C. 4is' retention:
"isk retention implies that the losses arising due to a risk e,posure shall be retained or assumed
by the party or the organi.ation. There may have t(o types of risk retention
). 5elf6insurance
*. Captive insurance
). 4is' control:
"isk can be control either by avoidance or by controlling. >o(ever as a concept these can be
segregated into t(o
). Before occurrence of losses
*. After occurrence of losses
;. Create the plan:
Decide the combination and method to be used for each risk. :ach risk management decision
should be recorded and approved by the appropriate level of management. A good management
plan should contain a schedule for control and implementation and responsible persons for those
?. Implementation:
%ollo( all the planned method for mitigating the effect of the risk. 9urchase insurance policy for
the risk that have been decided to transfer to an insurer$ avoid all the risk that can be avoided
(ithout sacrificing the entity/s goal$ reduce others and retain the rest.
:. 4e"ie$ and e"aluation of the plan:
nitial risk management (ill never be perfect. 9ractice e,perience and actual loss result$ (ill
necessitate changes in the plan and contribute information to allo( possible different decision to
be made in dealing (ith the risk being faced.
Insurance Pricing, Claim Settlement, Mar'eting / 4einsurance
Pricing -ools:
1. Fire: Situation/ condition/ class
)st class6 buildings
*nd class6 tin shed
+rd class6 fence house
-th class6 hut
Premium: Basically premium depends on risk. As much risk rise premium (ill rise in same
(ay. As much class degrades premium (ill go high$ such as -th class insurance taker (ill give
more premium than )st class insurance taker. Because$ hut is quickly burnable
2. Marine (cargo): A6 >igh covers all risk
). B6 medium covers. E;o(er than AF
C6 #inimum risk cover.
Additional risk6 J ND Enon deliveryF
J theft ! prefer age EriskF
Comment: t defers class to class and (hen additional risk added then
3. Marine ull: >ere included t(o types of tool
A6 Tariff
9olicy taker f +
party takes then premium (ill be less Comprehensive policy$ if o(ner
takes then premium (ill be high.

!. Miscellaneous:
Cash on counterDcash on transit
Burglary cash in safe
Comment: 9rice defers o tariff and also depends on policy taker. 9olicy taker could be divided in
t(o (ay policy in above (e can see.
Pricing element:
). Deceleration
*. Tariff
Marine (cargo) and ull:
). ?oods and packaging
*. "isk and amount
+. 9ort and destination
Pricing process:
There are t(o types of pricing process fire and marine
Claim settlement:
). 9arty provide information through phone or (riting
*. ?eneral diary E ?DF in local police station in terms of non marine insurance
+. Assigning a survey company to assess the loss
-. "eport submission of surveyor and bill payment of surveyor
0. Claim settlement@ claim department settle the claim after getting the report of surveyor.
The #D Emanaging directorF can issue claims amounting up to t(o lacks of the claim
more than t(o lacks and approval of e,ecutive board meeting is needed.
Mar'eting techni1ues:
). Assigned a target to branch manager@ 5alesman contacts (ith branch manager ho( many
contract they could sale and their salary depend on their sale.
*. Through agent@ Agents (ill get commission through sale policy.
+. Advertisement@ 9olicy can be sale in different (ay$ such as print media$ bill board and
sponsorship of program.
4e insurance management:
There is a certain retention portion of claim settlement ability of the company.
The over retention portion is reinsured in general insurances corporation Eshadharon bima
corporationF. The shadharon bima corporation also re insure their over retention portion to the
foreigners and diving fifty percent of their premium and risk among the listed general insurance
Performance ,nalysis
4atio ,nalysis:
Cear *<<0 *<<1 *<<2 *<<3 *<<4
Current "atioEJ@)F ).- ).01 ).-0 ).-* ).-0
Acid Test "atioEJ@)F ).*3 ).+) ).+- ).+* ).+0
Interpretation: The graph sho(s that though the ratio of current and liquid assets ! liabilities
of %ederal nsurance Co. Current "atio is higher in *<<1 among the last five years$ but the acid
test ratio is quite stable of %ederal nsurance Co. Though there is no significant difference in last
-rend ,nalysis
.et Premium Income
%igures are in #illion Taka.
<ear 677; 677? 677: 677B 6779

Net 9remium ncome 42.20 43.+1 )*3.-- )+1.+* )03.4-

Interpretation: The total premium paid by a policyholder after any ta, relief or discount is
taken into the Net 9remium ncome. The Net premium ncome of %ederal nsurance Company in
*<<4 is more than the previous years. n *<<1 the percentage of gross premium is lo(er.
%igures are in Taka.
<ear 677; 677? 677: 677B 6779

:arnings 9er 5hareE:95F )*.<) +.-3 )).)* )<.)< )*.40

Interpretation: The portion of a company/s profit allocated to each outstanding share of
common stock. :arnings per share serve as an indicator of a company/s profitability. The earning
per share of %ederal insurance company is increasing in the last though dropped in *<<1 and
higher in *<<4 among the last five years.
Profit &efore -a+
%igures are in #illion Taka.
<ear 677; 677? 677: 677B 6779

9rofit Before Ta, 2.4+ *.0+ )*.*2 )1.+< **.<2

Interpretation: The 9rofit before any ta, relief or discount is 9BT. The 9BT of %ederal
insurance Company in *<<4 is more than the previous years. n *<<1 the percentage of 9BT is
4ate of )i"idend
<ear 677; 677? 677: 677B 6779

"ate of Dividend )<H )*H )*H )<H )*H

Interpretation: The rate of dividend remains almost same e,cept last year. t fluctuates
bet(een )<6)* H
-otal ,ssets
%igures are in #illion Taka.
<ear 677; 677? 677: 677B 6779

Total Assets -2<.-4 0<+.+) 0*4.-4 01<.)< 030.2+

Interpretation: The total asset of %ederal nsurance Co. is gradually increasing highest in *<<4
among last 0 years and in increase.
.et Claims
<ear 677; 677? 677: 677B 6779

Net Claims )*.*) )0.4- )1.-2 )).4- )2.2*

Interpretation: The Net Claim of %ederal nsurance Co. is highest in *<<4 among last 0 years
and in lo(est in *<<3.
.umber of &ranches
<ear 677; 677? 677: 677B 6779

Number of Branches ++ ++ ++ +* *4

Interpretation: The number of branches of %ederal nsurance Co. is gradually decreasing lo(est
in *<<4 among last 0 years and in decrease.
Share Price
%igures are in Taka.
<ear 677; 677? 677: 677B 6779

5hare 9rice 3< 4< )00.0 *3).0 02-.20

Interpretation: The 5hare of %ederal nsurance Co. is gradually increasing highest in *<<4
among last 0 years and in increase.
Common Size Statement Analysis:
C,PI-,L / LI,&ILI-I*S 6779 677B 677: 677? 677;
5>A":>8;D:"5/ :OUTC <.*1 <.*0 <.*0 <.*0 <.*-
BA;ANC: 8% %UND5 <.<4 <.)< <.)< <.<3 <.<3
:5T#AT:D ;AB;T:5 <.<0 <.<0 <.<0 <.<0 <.<2
A#8UNT DU: T8 8T>:" 9:"58N5<.-< <.+1 <.+- <.+* <.*1
5UND"C C":DT8"5 <.)+ <.)4 <.*) <.*+ <.+<
;8AN5 AND AD7ANC:5 <.<1 <.<- <.<+ <.<+ <.<*
9remium Deposit Account <.<) <.<) <.<* <.<- <.<+
-otal 8.77 8.77 8.77 8.77 8.77
P4OP*4-< / ,SS*-S:
P4OP*4-< / ,SS*-S 6779 677B 677: 677? 677;
N7:5T#:NT EAT C85TF <.<) <.<) <.<) <.<) <.<)
8UT5TANDN? 9":#U# <.)* <.)* <.)) <.)) <.))
NT:":5T$ D7D:ND ! ":NT <.<) <.<) <.<) <.<) <.<)
A#8UNT DU: %"8# 8T>:" 9:"58N5<.*- <.)- <.)0 <.)0 <.)1
5UND"C D:BT8"5 <.+< <.-0 <.-1 <.-3 <.-3
CA5> AND BANB BA;ANC:5 <.*1 <.*< <.)3 <.)0 <.)-
8T>:" ACC8UNT5 <.<1 <.<2 <.<3 <.<4 <.<4
-otal 8.77 8.77 8.77 8.77 8.77
Scenario ,nalysis:
Cear *<<1 *<<2 *<<3 *<<4 *<)<J
Net 9remium 43$+01$4-) )*3$--)$<01 )+1$+)1$4** )03$4+1$330 )3-$+11$231
U.&. 9rofit *)$-+)$)04 *0$-<-$)1* +0$<*-$+)< -+$0*-$24- 0+$42<$2-0
Assets -*$343$4)3 -<$12<$40< -)$11+$-)+ +3$*4*$3-1 -<$33)$0+)
5hare Capital 2*$1<<$<<< 3)$+)*$<<< 4)$<14$-<< )<<$)21$+<< )<1$1+*$23<
Sensiti"ity ,nalysis:
I-*M In 6779 If (ross
If (ross Premium
If .et Claim
If .et Claim H
9remium *034)22)1 *2)31+1<* *-042)3+< *034)22)1 *034)22)1
Net premium)034+1330 )2)33*22) )-044<444 )034+1330 )034+1330
Net Claim )22*)433 )22*)433 )22*)433 )31<3<32 )13+0334
U.&. 9rofit -+0*-24- 01-2<13< +<0234<3 -*1+3140 ---)<34+
Interpretation: The ?raph sho(s that$ changing in claim and premium doesn/t impact
tremendously on profit.
Cross Sectional ,nalysis:
CompanyIs .ame Federal Ins. Peoples Ins. (reen )elta
Pheni+ Ins. @nited Ins.
Net 9rofit **<2<<<< -0+4<<<< *2210)0<1 20-13443 2-*1<<<<
Net 9remium )034-<<<< *)2<-<<<< 2*114<<<< *1<)3333* )<-)-<<<<
nvestments 01)*23+ -32+<3003 )3+0+-<<<< ))<0+2<)* **1+<4++)
Total "eserve +1+2-+13 )-3*)<<<< *<4-24<<<< )-*00*311 *2-00<<<<
:95 )*.40 ++.)2 01.44 *0.)1 *).+)
Total Assets 0302*1<4< 242-)<<<< +-++<211)< 1424<-1)3 2*1<<<0)*
Total ;iabilities 0302*1<4< 242-<2<*0 )*4++*)-1< )<*+2**+++ 2*1<<<0)*
%rom the above cross sectional analysis (e have found that$ %ederal nsurance Company is in
fifth position as the capital and business si.e is smaller.
Share price "aluation
The dividend of the company for the last fe( years are given belo(6

Calculation of the gro$th rate 2g3:
gG 6)
Calculation of )6788:
9rice of the share G
Commen t@ The share price is 'ustifiedL the market price of the share is Tk.)*0.-. The main
reason behind this situation is the reserve fund of progressive general insurance company.
<ear 677B
)< )* )*
Company ,nalysis
SOA- ,nalysis
S Strength
O Opportunity
A Aea'ness
- -hreat
)F n case of premium earning this company is on )<
position among all of the insurance
companies E-+companiesF in Bangladesh.
*F Claim paying ability.
+F t has bank investment.
-F Under(riting profit is in a stable position.
0F &ide distribution net(ork.
)F ;ocation of the head office.
*F :,pansion of market country (ide.
+F ncreased demand of insurance ! re Kinsurance.
-F nvestment opportunity.
0F "ate of tariff is fi,ed by the C"C.
)F ;ess capital.
*F The company can/t computeri.e the total net(ork still no(.
+F No advanced training facilities.

)F Unhealthy competitive market.
*F Turnover rate is high.
Situation ,nalysis:
Porter#s $ forces on insurance industr%
nsurance industry in Bangladesh is running on by small number of quality producers. %ederal
insurance company is one of the largest of all companies in the industry. t has e,treme
reputation ! brand image as (ell. %ive forces of this are the follo(ings6
-hreats of ne$ entrants is lo$ becauseC
)F :conomies of scale are too much high.
*F Ouality of product is almost outstanding.
+F >uge amount of capital is required.
-F 5hortage of proprietary skills or technology.
-hreats of substitute are lo$ becauseC
)F As it is not highly profitable$ there e,ists lo( threat.
*F The satisfaction of substitute product price performance is poor.
Po$er of supplier is high becauseC
)F 5ubstitute for their policies is not available.
*F 9rovider can for(ard integrate because it might be profitable.
+F There is some small no. of friendly institutions in the industry.
-F Their offers are highly profitable.
0F :ntering bet(een them is very costly.
Po$er of buyer is lo$ becauseC
)F nsurer avoids high volume of insured amount.
*F 9olicy can be in different forms.
+F nsurer al(ays for(ard movingQ.
IntraCindustry ri"alry is lo$ becauseC
)F The area of market is very large.
*F ndustry is gro(ing ! yet to attain at maturity.
+F %i,ed costs are high$ revenue also very high to services make up it.
-F The standard of the insurance services is different from company to company.
Findings, 4ecommendation / Conclusion
Finding form Performance ,nalysis
%rom the various financial analyses$ there are some ma'or findings as follo(s@
The current ! acid test ratio is good and reliable.
The 5hare 9rice is 'ust follo(ing the share value$ no over value or under value.
The no of branches are in decrease for various obstacles and for the challenges from the
"ate of dividend is lo(er than other companies and stable.
"ate of premium collection and market share is good$ )<
in position in terms of premium
:95 is not bad.
These are the basic findings from the analysis of the financial information of this company.
,lternati"e Strategies / 4ecommendation
The Company must be fully computeri.ed as early as possible.
Ne( strategy has to be taken to improve the sales and performance.
:fficient employees should be appointed.
Different portfolio investment can be increased.
#oderni.ation of office setup.
These steps could be taken to improve the condition of the company according to our short vie(.
7isiting nsurance Co. (as totally ne( for us. &e have found that$ the practical kno(ledge of
insurance is more important and a bit different then the bookish kno(ledge. #aking this report
helped us to gain valuable practical kno(ledge and skills. The %ederal insurance company is one
of the oldest private general insurance companies. The main feature of this company in our vie(
is that$ ma,imum portion of their profit comes from the under(riting profit that means insurance
business$ not from investments. f the recommended steps are taken as early as possible$ (e
strongly believe that$ they (ill come to the top most positions very shortly in this sector.
). Elements of &nsurance' A.i.ul >uq Chaudhri
*. &nsurance Principles ( practices' #.N #ishra
4eports and articles:
). Annual "eport of the Company
*. Daily Ne(spapers and financial publications
*ncyclopedia / )ictionary:
). 8nline :ncyclopedia
*. 8nline Dictionary
Aebsite or Aebpage:
). http@DD(((.google.comD
*. http@DD(((.federalinsu6bd.comD
). #r. 5hahinur 5obhan
Assistant 9rofessor
Department of Business Administration
Dhaka City College
#anaging Director$ C:8@
A B # 5ar(ardy Cho(dhury
Senior *+ecuti"e #ice President:
5imul Banti Barua