Janata Insurance Company Ltd. (JIC) a first generation Non-Life Insurance Company in Bangladesh in the private Insurance sector. The company was incorporated and commenced its business as a public limited company under Companies Act 1994 on 23rd September, 1986 with a view to run all types of Insurance business except Life- Insurance as per Insurance Act, 1938 (subsequently repealed by the Insurance Act 2010) in Bangladesh. JIC commenced its business operations from November 6, 1986 after obtaining registration certificate from the office of The Chief Controller of Insurance (CCI). JIC ventured its operation with a paid-up capital of Taka 30.00 million and authorized capital of Taka 100.00 million sponsored by a group of leading entrepreneurs/industrialist of our country having involvement in various socio-economical sectors. By the passage of time, the Authorized and the Paid-up capital of the company have been enhanced to Taka 1000 million and Taka 383.53 million respectively by December 31, 2016.
JIC went for Initial Public Offering in 1994 and raised its paid-up capital by issuing rights shares in the year 2011. The Company’s ownership is prudently distributed to Sponsor Directors 54.53% and 45.47% to General Public including Financial Institutions.
The Board of Directors comprises a good number of eminent entrepreneurs and personalities of the country. Members of the management team are highly qualified professionals. The Board is chaired by Mr. Aziz Al- Masud and steered by Mr. Md. Fazlul Hoque Khan as the Chief Executive Officer of the Company. The future plans of the company include increase of business volume by expansion of branch net work, hiring of potential man power with technical know-how in the Non-Life Insurance business arena, implementing progressive marketing strategies and rendering quality & swift services.