Eastland Insurance PLC. celebrates 40th Anniversary

Eastland Insurance PLC. -a leading first-generation non-life insurance company of the sector, celebrated its historic 40th anniversary with a grand gala evening at the Grand Ballroom of Radisson Blu Water Garden, Dhaka. The milestone event commemorated four decades of unwavering trust, financial stability, and dedicated service to the nation’s trade, commerce, and industrial landscape since its inception in 1986.

The celebratory evening commenced with a traditional cake-cutting ceremony to mark the 40-year milestone, led by the distinguished Chief Guest, Special Guests and the valued guests.

The event was graced by an array of influential policymakers, state dignitaries and business leaders. Among the esteemed guests were the Abdul Awal Mintoo MP, hon. Minister for Environment Forest & Climate Change, Sayeed Ahmed MP, Chairman of the Parliamentary Standing Committee on Ministry of Public Administration and other distinguished guests & well wishers.

The event also drew an elite gathering of the country's most renowned industrialists, Bankers, top corporate executives, Bangladesh Insurance Association (BIA) and long-standing clients.

In his welcome address Mahbubur Rahman, Chairman of the Company paid a heartfelt tribute to the founding members and the late colleagues whose dedication laid the company's strong foundation. The Chairman stated that- it is important that the industry’s contribution to GDP is merely 0.35% whereas the average for such emerging markets is 2.5%. Bangladesh remains the only country where motor insurance is not mandatory. He urged upon the govt. to kindly look into the Road Transport Amendment Act 2024 and ensure safety on the roads immediately without putting further citizens at risk. The insurance industry has played a vital role in protecting the private sector through major setbacks in the recent past, starting from the coronavirus pandemic, the Russia-Ukraine War, the July Uprising, Israel-Iran War, till the recent industrial belt crises. He urged the govt. to take strong steps to stop any further damages to our export oriented Industries. Chairman also stated that, since inception Eastland paid Tk. 183 crore in total as Dividend with a cumulative record of Tk. 721 percent, settled Tk. 453 crore in claims and Tk. 88 crore as taxes to the national exchequer.

The guests delivered their speeches and praised Eastland Insurance for its four decades of contribution in mitigating industrial risks & supporting the growth of national trade &economy. The celebration concluded with a special token of appreciation to the company’s longest-serving clients and corporate partners, followed by an attractive cultural program and dinner.