The Jiban Bima Corporation (JBC) is the lone state-owned life Insurance company in Bangladesh, which started its maiden journey on May 14,1973 with assets and liabilities worth TK. 15.70 crore (157 million) of defunt 37 life Insurance companies. Since its inception, JBC is working among the people of Bangladesh with two basic objectives: firstly, to cover the risks and raise savings habits among the people and secondly, create funds for the country’s economic development through innovative life insurance schemes.
Meanwhile, the life fund of Jiban Bima Corporation has shot up to TK. 1498.83 crore (14.99 billion), up to the year 2013, which was only TK. 21.83 crore (218.3 million) in 1973. JBC has paid TK. 1580.9 crore (15.81 billion) against various claims, the highest such payments in the country’s life Insurance business. The JBC’s investment has reached TK. 1411.28 crore (14.11 billion) from only TK. 19.7 crore (197 million) in 1973. The JBC has the largest network all over the country with 7 regional, 9 zonal, 68 sales and 354 branch offices.