The story began in 1985. Bangladesh government gave permission to the insurance companies to operate their businesses in the private sector. This marked a paradigm shift in the insurance industry of Bangladesh. Mr. Md. Shafat Ahmed Chaudhuri, could envision what future held for this sector. He knew exactly the right person to consult with regarding this. He met Mr. Nasir A. Choudhury to discuss about his plan. The duo sat down, talked, and gathered more movers and shakers of the business industry to materialize one single goal. That’s how the largest Non-Life Insurance Company of Bangladesh came into being. That’s how Green Delta Insurance Company Limited was born and the rest is history.
The two legends that we mentioned above are the Founding Chairman (Late Mr. Md. Shafat Ahmed Chaudhuri) and Founding Managing Director & Advisor (Mr. Nasir A. Choudhury). Mr. Nasir A. Choudhury has been an icon for the whole insurance industry for more than 5 decades. Under his fascinating leadership the company reached the number one position within few years after inception. Since then it’s been a journey to outshine the previous achievements and pioneering the brilliant innovations in this neglected sector. For the past 3 years Ms. Farzana Chowdhury ACII (UK) has been leading the company as the Managing Director & CEO who happened to be the first and youngest female Managing Director & CEO in the Insurance & Banking Sector.
Green Delta Insurance is the first and only Insurance Company from Bangladesh to achieve AAA rating for two consecutive years. With International Finance Corporation (IFC) of World Bank Group as their Equity partner, Green Delta Insurance holds the proud distinction of being the first ever insurance company to raise its paid up capital to more than BDT 807 million.
Recently Green Delta Insurance celebrated its30th Anniversary in its Corporate Head Office in Dhaka. To mark the occasion, Green Delta organized a day-long “Open House” for its employees and stakeholders. During the event, the 30th Anniversary logo was unveiled, cakes were cut, speeches were delivered by Founding Managing Director and Advisor Mr Nasir A Choudhury, Managing Director and CEO Ms Farzana Chowdhury, Sponsor Director Mrs Khurshida Chowdhury, Independent Director Mr. N H Khan etc. Throughout the day, there were many activities and live performances in which the guests actively took part.
Green Delta is celebrating its 30th anniversary throughout the year 2016 with the theme: Future is Green. Today Green Delta is standing in a position from where the future looks really positive. At the crossroads, the way ahead is full of possibilities and showing the green light. Today Green Delta is a big family with four subsidiaries. Green Delta Capital Ltd., Green Delta Securities Ltd., Professional Advancement Bangladesh Limited and GD Assist Limited are four of the direct subsidiaries. By now, Green Delta has been able to uphold the brand image as a prompt claim settler, superior service provider, and diversified product supplier – almost like a one stop solution provider in the non-life insurance sector in the country.
Green Delta is not only working to uphold itself rather the goal is to work for the development of the Insurance industry as a whole. As there remains a negative perception regarding Insurance among the general people of our country, Green Delta has gone for an all-out approach to change the perception of the people regarding Insurance. With the motto ‘Insurance for everyone’ Green Delta promises to bring insurance at everyone’s doorstep. Retail products like- Nibedita which is the first comprehensive Insurance scheme for Women in South East Asia, Niramoy- Micro insurance for rural people, Shudin- Micro insurance for garments workers, Probashi- Comprehensive Insurance scheme for Migrant Workers, Weather Index Based Agri Insurance, Health Insurance with Global Emergency Evacuation Services, Overseas Mediclaim Insurance, People’s Personal Accident policy for students- are helping to transform the scenario as people are starting to believe how a proper insurance scheme can be a friend in need in times of distress. Green Delta is eyeing the scope of digital insurance and has initiated online payments services to make the payment methods easier for the valuable clients and also they have built up a strong IT infrastructure to be aligned with government’s recent approaches towards a more digitalized and greener future.
It’s a matter of great joy that Bangladesh Government has taken up a timely initiative to provide health insurance to the people who are living below the poverty line. ‘Shashtha Suroksha Karmashuchi’ (SSK) is a project of Health Economics Unit under Ministry of Health & Family Welfare. Green Delta Insurance is the scheme operator for the whole project.
Green Delta has just completed 30 years but they are already looking forward to the next 30 years! The recent national and international awards as the Best Non Life Insurance Company of Bangladesh from organizations like World Finance, IFM, ARC, ICAB, ICSB, SAFA etc. are pushing them forward to achieve their long term vision to take insurance to a much greater height.