Phoenix Insurance PLC is one of the leading insurance companies in Bangladesh and was incorporated as a Public limited company on December 1, 1986. The company started its business operation in most parts of the country after obtaining a certificate and being registered with the Department of Insurance on December 1, 1986.
Mr. Deen Mohammad, the Chairman of Phoenix Group, in association with Maj. Gen. (Retd) Abdul Manna Siddiqui, the founder Chairman, formed the company along with some other distinguished entrepreneurs with a paid-up capital of Tk 3.00 crore. Mr. Deen Mohammad, Chairman of Phoenix Group, served the company as Chairman from 2000 to 2006, and thereafter, Mr. Mohammed Shoeb, an iconic figure, was unanimously elected Chairman of the company on August 2, 2006. Mr. Mohammed Shoeb played a pivotal role in developing the insurance software system named CIIS in collaboration with IBCS PRIMAX using “state-of-the art”
Phoenix Insurance PLC aims to deliver innovative customer solutions through its wide-ranging line of products. The management is to maintain the highest standards of integrity and sound relationships in dealing with all stakeholders, which include customer intermediaries, employees, shareholders, and business partners.
As a publicly listed company, Phoenix Insurance is aware of the importance of standard integrity along with maintaining community responsibilities. Responsibility is integral to our strategy, and we try to meet necessities where required around the country.
Since its establishment, Phoenix Insurance has insured Bangladeshi customers successfully for 40 years. At the end of 2025, the paid-up capital was raised to Tk 40.34 crores, the Reserves Fund stood at Tk. 108.83 crores, and total assets were calculated at Tk. 233.28 crores.
We believe that sustainable growth for a company is important to achieve the target. Deep-rooted commitment and dedicated, proactive actions are required, where positive actions, choice, freedom, and fairness are expected.
We work with both domestic (Sadharan Bima Corporation) and international reinsurance partners to effectively manage reinsurance and protect our policyholders across all risk categories.
Phoenix Insurance is broadly involved in underwriting the risk coverage of all kinds of properties or assets, such as fire, accidents, motor vehicles, marine (import and export), burglaries, cash-in safes, cash in transit, machinery breakdowns, terrorists and contractors all-risks, erections, aviation, etc.
Phoenix Insurance is one of the leading general insurance companies in Bangladesh. It has a network of 32 branches at all important places throughout Bangladesh, and it employs a full-time trusted and talented workforce of 274 employees; their service delivery ensures that this company remains a valued brand.
Phoenix Insurance PLC has been rated AAA by ARGUS Credit Rating Services Limited based on the financials for the year ended December 31, 2025. This rating will remain valid until June 02, 2026, reflecting our long-term financial strength.
The management team is led by Mr. Md. Rafiqur Rahman, the Chief Executive Officer (CEO) of Phoenix Insurance PLC with 19 years of experience — guiding the company towards becoming one of the most trusted insurers in Bangladesh.
Phoenix Insurance ensures proper re-insurance protection for all re-insurable policies. Our experienced claims settlement personnel handle all claims with due care and professional support to settle within the shortest possible time.
Our Purpose
Our mission is to provide excellent insurance products and services to meet the growing needs of the national and international markets. We offer a wide range of insurance services for individuals, small businesses, and medium enterprises. Furthermore, we also extend our services to global corporations.",
Where We're Headed
Building a profitable and socially responsible financial institution focused on market and business with growth potential, thereby assisting BRAC and its stakeholders to build a just, enlightened, healthy democratic and poverty-free Bangladesh.
Financial systems work best when they are clear, responsible, and dependable.
We exist to strengthen financial confidence — through disciplined banking, transparent practices, and long-term commitment to sustainable growth.
Our Journey
November 27 1986 — Incorporation of the Company
01 December 1986 — Obtained Certificate for Commencement of Business
04 December 1986 — Registered with the Department of Insurance
December 4 — Registered with the Department of Insurance
21 April 1990 — First dividend declared
Expansion to 20+ district offices across Bangladesh
28 July 1994 — Prospectus issued for public flotation of shares
04 December 1994 — Listing with Dhaka Stock Exchange Ltd.
04 December 1994 — First trading of share on Dhaka Stock Exchange Ltd
01 July 2003 — Issuance of first bonus shares
27 December 2004 — Agreement signs with CDBL
15 January 2005 — Start of demat settlement
Mohammed Shoeb joins as Executive Director
09 December 2010 — Obtained permission from Controller of Insurance to increase Company’s Authorized Share Capital from Tk.50.00 crore to Tk.100.00 crore.
09 December 2010 — Obtained permission from Controller of Insurance to increase Company’s Authorized Share Capital from Tk.50.00 crore to Tk.100.00 crore.
26 December 2010 — Obtained permission from SEC regarding changes of Company’s Share Face Value & Lot Size
26 December 2010 — Obtained permission from SEC regarding changes of Company’s Share Face Value & Lot Size
13 January 2011 — DSE & CSE implement the decisions of changing the share price value (face value) from Tk.100/- to Tk.10/- and market lot from 20 to 200 shares
Online claim submission system introduced
Head Office relocated — Tejgaon Industrial Area, Dhaka
Phoenix Insurance was born at a pivotal stage of Bangladesh's financial evolution. From its very first day, the company committed to building trust through integrity, transparency, and genuine care for its clients — values that continue to define it nearly four decades on.
Guided by the vision of Mr. Deen Mohammad and Maj. Gen. (Retd) Abdul Mannan Siddiqui, Phoenix Insurance was built on the belief that business success and social responsibility go hand in hand. Their legacy of honesty and service lives on in every policy we write.
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