Loading...
The Financial Express

Company profile

Guardian Life posts 300pc growth in two straight years

| Updated: February 28, 2019 11:38:00


Guardian Life posts 300pc growth in two straight years

Guardian Life Insurance Limited, the fastest growing life insurance company in Bangladesh, saw over 300 per cent growth rate in the last two consecutive years -- 2016 and 2017.

The country's leading life insurer was also the highest premium earner in 2016 among fourth generation life insurance companies in Bangladesh, according to the company.

The management expenses of the company are also the lowest among all life insurance companies in the country, it said.

A life insurance policy is a type of insurance that provides coverage against unexpected death of the policyholder or after a set-period of time when the policy matures.

Established in 2013, the Guardian Life Insurance started its business activities on January 01, 2014 and achieved a good responsible position in the insurance sector within four years of its journey. The company is looking to grow further in the coming years.

As per the unaudited reports submitted to the Insurance Development and Regulatory Authority (IDRA) by the insurance companies at the end of the business year 2017, the Guardian Life made many outstanding achievements. It received the 'Insurance Asia Awards' in July 2017 for the 'New Insurance Products of the year, 2017'.

The company has also the largest group insurance portfolio in the country.

The company's paid-up capital is Tk 182 million and authorised capital is Tk 2.0 billion.

The sponsors of the Guardian Life Insurance are renowned and very trusted business houses in Bangladesh -- Apex, Brac and Square Group.

"Our sponsors are successful entrepreneurs in their respective field of business with high ethical reputation and standard," the company said in a statement.

For a sustainable economic development of the country, insurance industry plays a vital role.

"Our sponsors intend to bear this responsibility and are dedicated to establishing Guardian Life as a trusted life insurance company."

They have chosen the name of "Guardian Life Insurance" to play the role of a real guardian to the policyholders and his family members, said the statement.

The company has also a re-insurance agreement with a well-regarded European re-insurance company -- SCOR Global Life, SE.

The Guardian Life Insurance has currently four businesses lines: individual business, group business, micro insurance business and bank assurance.

The main features of group life insurance plan and summery of benefits are as follows: For natural death -- 100 per cent of sum assured; accidental death -- 200 per cent of sum assured; permanent and total disability -- 100 per cent of sum assured.

There are also coverage plans for permanent and partial disability risks.

All regular and paramagnet employees who are in good health and are below age 60 can join the scheme, said the company.

The company is committed to settle all claims within five working days after receiving of all required documents related with the claims, it added.

Guardian Life has also a network of preferred hospitals and diagnostics centres.

The company offers hospitalisation plan, maternity benefits, out-patient treatment plan, dental out-patient treatment benefit per year, optical out-patient treatment benefit per year etc.

The most attractive feature of the company's Hospitalisation plan is that it does not limit the clients' choice through networks. Clients have the complete freedom to choose the hospital, clinic, doctor or the specialist they prefer, said the life insurer.

Guardian Life makes every effort required to deliver the best to its customers by providing them with world-class insurance and outstanding customer service, the company said.

The company started its journey with the motive of offering the customers a healthier, secure and more hopeful future.

The company also assures a highly skilled and well-informed workforce united with a blend of the latest technology in order to go the extra mile for their valued customers.

"Innovation, proper risk management and prudent investment mechanisms are our tools in ensuring maximum financial benefits for our customers," the company said in the statement.

Some valued clients of the Guardian Life Insurance are Square Group, Aamra Companies, Walton Group, Runner Group, Bangladesh Edible Oil Ltd., University of Dhaka, Brac University, Brac and Roots Communications.

[email protected]

 

 

Share if you like

Filter By Topic