Insurance pioneer MA Samad’s 21st death anniversary today

The 21st death anniversary of MA Samad, founder of Bangladesh General Insurance Company PLC (BGIC), a pioneer in Bangladesh’s insurance industry and an internationally recognised insurance personality, will be observed today, October 17.

After retiring as managing director of the state-owned Jiban Bima Corporation, MA Samad established BGIC in 1985 as the country’s first private-sector non-life insurance company.

Although he was primarily a life insurance expert, he made outstanding contributions to the general insurance sector as well.

Samad was the founder of the Bangladesh Insurance Academy, an entrepreneur and director, and a former chairman of the Bangladesh Insurance Association.

He authored three books on life insurance and one on general insurance in Bangla and English. His books received wide appreciation both at home and abroad.

He was also listed as an international expert under the United Nations Technical Assistance Programme on Trade and Development.

Under the United Nations Development Programme (UNDP), Samad travelled to various countries, including the United Kingdom and the United States, to participate in insurance industry fellowship programmes.

Born on January 1, 1923, in Kulaura, Moulvibazar district, into a respected Muslim family, Samad played a significant role in the development of Bangladesh’s insurance sector.