Crystal Insurance, whose services include property insurance, marine insurance, motor insurance, liability insurance, engineering insurance, and miscellaneous insurance, has outperformed its industry peers in net profit after tax (NPAT) by posting 12.6 per cent year-on-year growth in 2019 compared to a 32.3 per cent decline for its peers, said a recent research report by Brac-EPL. Only five players have a market share of greater than 5 per cent, and Crystal Insurance had a market share of only 1.37 per cent in December 2017. “Bangladesh’s insurance industry is a supply-driven industry rather than a demand-driven one. The bulk of the insurance policies sold by the general insurance companies are due to the insurance being a requirement for other services, the report said. “Hopefully, investors will not be disappointed,” Mia Fazle Karim, managing director and chief executive officer of Crystal Insurance, told Dhaka Tribune on the eve of the stock market debut.

Source: Dhaka Tribune December 20, 2020 18:33 UTC