VIP Industries Ltd. is the insured of Bangladesh General Insurance Company (BGIC) PLC. A terrible fire incident broke out 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 the 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 at the time of cheque handover.
