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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, in January 31, 2023.
Accordingly, the insured VIP Industries applied to BGIC for on account advance payment on February 25, 2024. BGIC recovered Tk 50 million from the foreign reinsurer within a short time and handed over the partial insurance claim cheque to the insured VIP Industries on July 08, 2024, at the head office of BGIC, according to a press release.
Chairman of BGIC Towhid Samad and Chief Executive Officer of VIP Industries Anjan Mohanty were present in the cheque handover ceremony. BGIC’s Chief Executive Officer Ahmed Saifuddin Chowdhury along with senior officials and VIP’s top management, also attended the event.