The Phoenix Insurance Company Ltd, one of the first generation leading general insurance companies in Bangladesh embarked on its journey on November 27, 1986. Mr. Dean Mohammad, Chairman of the Phoenix Group in association with Maj. Gen. (Retd) Abdul Mannan Siddiqui who was the founder chairman along with a group of entrepreneurs founded the company with a paid-up capital of Tk 30 million.
The Company, headquartered in Dhaka, began operation in most parts of the country after obtaining certificate on December 1, 1986 and being registered with the department of insurance on December 4, the same year.
The company first announced first dividend for its shareholders on April 21, 1990 and issued prospectus for public floatation of shares on July 28, 1994. Under the Insurance act of 1938 with the slogan ‘Service for Security’ the Company was listed in Dhaka Stock Exchange Ltd (DSE) on December 4, 1994 and the next day, launched trading of shares in the DSE. The shares of first trading were valued at Taka 440 each. The first AGM of the company took place at the Sonargaon Hotel Dhaka on October 25, 1995 where all the sponsors, directors, shareholders, employees, clients, members of regulatory bodies were present. The company issued first bonus share on July 1, 2003 and signed agreement with CDBL on December 22, 2004. It started de-mat settlement on January 15, 2005.
Our vision is to be an innovative, profitable; customer-oriented insurance enterprise with a national focus.
Our mission is to provide nonparallel service, protect our policy holders` interest and contribute to the stability of national economy.
To materialize the dreams inscribed in our vision and the targets spell in our mission, we have set a good number of objectives. These are as follows:
- To conduct transparent and high quality general insurance service.
- To create best value for customers, shareholders and all stake holders.
- To utilize stronger IT-driven initiatives in order to meet the challenges and requirements of the company and its clients.
- To improve administrative and organizational configuration in order to prepare the platform for best practices of corporate governance.
- To meet the various insurance needs of the community that would arise in the changing social and economic environment.