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Financial Performance of General Insurance Companies in Bangladesh: A 2003-2020 Evaluation

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  • Dr. Muhammad Ziaulhaq Mamun

    (Pro-Vice Chancellor, East West University, Bangladesh Former Professor, Institute of Business Administration University of Dhaka)

  • Fairuz Chowdhury

    (Assistant Professor Institute of Business Administration University of Dhaka Dhaka, Bangladesh)

Abstract

This paper analyzed the financial performance of the general insurance companies of Bangladesh over the period 2003-2020 by studying 18 general insurance companies out of 46 (including the only government owned company Sadharan Bima Corporation, SBC). In terms of net premium, the study found no definite industry trends; but, the only nationalized insurance company (SBC) has around 1200% higher premium earnings than the private average. Also, SBC has the highest figures for both investment and investment income for the studied period. Average investment has increased in the private insurance sector steadily during 2003-2007, then onward there was sharp ups and downs; but SBC’s investment growth has been steady all through. In the studied period, the net claims of most private insurance companies have increased significantly with an overall rising trend. SBC has been incurring the most net claims and its average is 2543.18% more than private insurance companies’ average.

Suggested Citation

  • Dr. Muhammad Ziaulhaq Mamun & Fairuz Chowdhury, 2021. "Financial Performance of General Insurance Companies in Bangladesh: A 2003-2020 Evaluation," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(07), pages 715-726, July.
    • Handle: RePEc:bcp:journl:v:5:y:2021:i:07:p:715-726
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