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AN ASSIGNMENT
ON
Writing a Report on Meghna Life Insurance Company Limited
Course Code: FCC-305
Course Title: Risk Management and Insurance

Submitted To:
Kazi Sirajum Munira
Lecturer
Department of Management
University of Chittagong

Submitted By:
Group Name: The Enthusiasts
Group Member Id No.
Nurer Nobi 18302008
Faysal Mohammad Tanvir 18302014
Avishek Chowdhury 18302135
Shown Shaik 18302117
Robin 18302076
Md. Asifujjaman Joy 18302047

Session: 2017-2018 (5th Semester)

Department of Management
University of Chittagong
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Date of Submission:

Table of Contents
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Chapter: 01

Introduction

 Purpose: The purpose of this report is to provide a brief picture of by Meghna Life Insurance
Company Limited. One can learn about the history of origin, present status, product, policy and
services etc. of this insurance company from this report.
 Background: Insurance is a form of risk management used to hedge against the risk of a
contingent loss. It involves the transfer of the risk of potential loss from one entity to another, in
exchange for a risk premium. Given this role the insurance sector fosters financial stability by
enabling economic agents to undertake various transactions with the facility of transfer and
dispersion of risks. As a crucial component of the financial system, life insurance plans are an
important source of savings and long-term institutional investments.
Insurance sector in Bangladesh emerged after independence with 2 nationalized insurance
companies- 1 Life and 1 General; and 1 foreign insurance company. In mid 80s, private sector
insurance companies started to enter in the industry and it got expanded. Now days, 62 companies
are operating under Insurance Act 2010. Out of them 18 are Life Insurance Companies including
1 foreign company and 1 is state-owned company. Other 44 are general insurance companies
including 1 state-owned company.
Currently, overall insurance penetration in the country is approximately 0.57 % which is not
sufficient. In 2018, Bangladesh’s insurance premium earnings rose by 11.06 % to Tk. 124.165
billion, according to data available with the Insurance Development and Regulatory Authority
(IDRA). The gross premium from life insurances stood at Tk. 90.20 billion in the year, up by
10.10 % while premium of non-life insurance steed at Tk. 33.97 billion showing 13.92 % rise.
Life insurers disbursed a total claim payment of Tk. 65.71 billion with the claim settlement ratio
of 88.51 %.
Meghna Life Insurance Company Limited is one of the top private life insurance companies
operating in this ever-growing market. The company is doing business for about 20 years since its
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establishment. In this report we will try to depict a brief picture of this life insurance company’s
features and functions.
 Method of Investigation: We have collected information from several websites such as
www.meghnalife.com, www.bb.org.bd, www.thefinancialexpress.com.bd, www.researchgate.net,
www.wikipedia.org etc. to furnish this report. In this report we have tried to focus on the key
points i.e. key features, functions and informative sides of Meghna Life Insurance Company
Limited.
 Scope: From this report we can learn about the history of origin, company profile, products,
policy and services offered by Meghna Life Insurance Company Limited. It can help the reader to
gain a clear knowledge about the company and take decision about whether to buy insurance
form this company or not.