Eastern Insurance Co. Ltd. is one of the pioneer in general insurance business operating in the private sector of Bangladesh. The Company started its operation in the year 1986. The authorized capital of the company is Tk.100,00,00,000.00 and paid up capital is Tk.43,11,01,440.00 It is a limited Company and listed with DSE & CSE in the year 1994 and 1996 respectively. The Company has a network of 23 Branches all over the country covering all important business centers of the country
Historical Background :
After Liberation of Bangladesh in 1971 Bank and Insurance companies were nationalized along with other sectors like Jute and Textile to give a socialistic flavors to the economy of the newly emerged nation which was electoral pledge of the then ruling government. But with the changed global economic situation, Bangladesh Government decided to follow an open market economy right from the early eighties. Until 1986 both life and general insurance business were carried out in the country by two state owned Corporations Jiban Bima Corporation and Sadharan Bima Corporation respectively. The beginning of 1986 witnessed emergence of a few life and general insurance companies under Private Sector after passing of Insurance Amendment Act 1983 in 3rd Parliament of the Country.
Eastern Insurance Co. Ltd. one of the first 10 Public Ltd. Companies, started operation in the year 1986 under the license of the Controller of Insurance. The Company is authorized to transact all classes of general insurance business. Since its emergence in 1986 the Company has earned wide reputation in the market for its strict adherence to business norms & ethics of insurance, personalized customer service and prompt and speedy disposal of claims. Now the name itself carries value to its customers. The experience gathered during the last 24 years of its operation and reputation earned gives a new dimension to its service rendered to its customer and it is now truly “a Symbol of Comprehensive Security” a slogan introduced by the Company right at the time of its birth.