VIP Industries Ltd is the insured of Bangladesh General Insurance Company (BGIC) PLC. A terrible fire incident occurred in the VIP-1 Bag Factory of VIP Industries at Mangla EPZ, Khulna on January 31, 2023.
Accordingly, the insured VIP Industries applied to BGIC for on-account advance payment, BGIC recovered Tk 11 Crore from the foreign reinsurers through Broker Protection Re within a short time and handed over the insurance claim cheque to the insured VIP Industries on March 13, 2025, at the Head Office of BGIC.
BGIC’s Chief Executive Officer Ahmed Saifuddin Chowdhury with senior officials and VIP’s Top management were present during the cheque handover.
