[2] For underwriting the non-life insurance business of Bangladesh, Sadharan Bima Corporation was formed by the government in the year 1973.
Sadharan Bima Corporation is the only insurer of properties owned by Government of Bangladesh.
[3] Prime Minister Khaleda Zia laid the foundation of the headquarters building of Sadharan Bima Corporation on 27 August 2003.
[5] On 15 March 2005, the Parliamentary Standing Committee on Public Accounts led by Harun Al Rashid began an investigation into the audit reports of the Bima Corporation.
[6] The managing director of Bima Corporation, M Humayun Kabir, was appointed the secretary of the Bangladesh Election Commission.
[9] In 2008, private insurances companies demanded the government of Bangladesh change laws that force them to give 50 per cent reinsurance business to the Sadharan Bima Corporation.
[3] The Bima corporation had insured MV Banglar Samriddhi which was sunk in the 2022 Russian invasion of Ukraine.
[15] Moreover, the repeated devastating insured events in the RMG sector of the country, namely 2013 Savar building collapse (Rana Plaza Tragedy), 2013 Standard Garment fire and 2012 Tazreen Fashion factory fire, have adversely impacted the performance of SBC despite sufficient reinsurance protection.