Published on 22th of May 2020 at 1600hrs :
At the age of 85, M Shamsul Alam, an eminent insurance personality in Bangladesh’s insurance sector, died of old age complications on 20th of May 2020 (Wednesday) in Dhaka.
Mr. Alam breathed his last at the United Hospital in the capital at 6 am on Wednesday due to old age (Inna Lillahe Wa Inna Ilayhe Raziun). The family sources have confirmed the news of the death.
Chartered Insurer, M Shamsul Alam was the former Managing Director of both Shadharan Bima Corporation (1973-1986) and Jibon Bima Corporation (1986-1987), and also was the founder president of Baridhara Cosmopolitan Club Ltd. Representing the country, Mr. Alam was the former chairman of Asian Reinsurance Corporation, Bangkok, and also the director of Bank Asia Limited.
In addition to the above, Mr. M. Shamsul Alam was the founding managing director of Reliance Insurance Limited, one of the first generation non-life insurance companies in Bangladesh. He discharged his pioneering service to the company from March 1988 to March 2005. Later he led the company as Deputy Chairman from 2005 to 2006.
The career timeline of Mr. M. Shamsul Alam:
- 1960 – Passed M.Com (1st class) from Dhaka University
- 1960- Joined the then Pakistan Insurance Corporation
- 1973 – Managing Director of Shadharan Bima Corporation
- 1986- Managing Director of Jibon Bima Corporation
- 1988- Founding Managing Director of Reliance Insurance Ltd
- 2005- Deputy Chairman of Reliance Insurance Ltd
- 2014- Chairman of Shadharan Bima Corporation
- 2017- Chairman of Jibon Bima Corporation
- 2016 – Adviser to CRAB (Credit Rating Agency of Bangladesh Ltd).
- 2020- Achievement of BIMA PADAK
Born in Madpur of Pabna, Shamsul Alam joined the then Pakistan Insurance Corporation in 1960 after completing B.Com (Honors) and M.Com (1st class) from Dhaka University.
Alam has a long list of credentials such as the associateship (ACII) of the Chartered Insurance Institute (UK), and the status of being the chartered insurer. He was one of the major figures in shaping the insurance sector since the independence of Bangladesh in 1971.
Honorable Prime Minister of the Peoples Republic of Bangladesh Sheikh Hasina has awarded Mr. Shamshul Alam, Director, Reliance Insurance Limited the “BIMA PADAK” as an Individual recognition for his outstanding contribution to the Insurance Sector.
In recognition of his outstanding contribution to the insurance sector of the country, Shamsul Alam was selected for the Bima Padak by the Insurance Development and Regulatory Authority (IDRA) during its observance of the National Insurance Day for the first time in the country on March 1, 2020. On this day, IDRA will posthumously honor five prominent insurance personalities. They are Safat Ahmed Chowdhury, Khoda Bakhsh, MA Samad, M Shamsul Alam ACII, and Golam Maula.
On his demise, the country’s ministry of foreign affairs has also expressed the condolences messages on the ministry’s website.
Mr. Alam is also the former chairman of the Bangladesh Insurance Association. The Bangladesh Insurance Association (BIA) has expressed grief over the death of M Shamsul Alam.
In a condolence message sent to the media, the BIA said that all the members of the insurance family were deeply saddened by the death of such a talented person in the insurance industry. The insurance owners’ association has expressed its deepest condolences to the bereaved family and prayed for the forgiveness of his departed soul.
Mr. Akhtar Ahmed, ACII, the Ex- Managing Director of Sadharan Bima Corporation and the adviser of Reliance Insurance Limited, has expressed his deep condolences to the bereaved family members at a press release.
Mr. Md. Khaled Mamun, ACII, the CEO of Reliance Insurance Ltd has also shown his sincere sympathy to the family of Mr. Alam and expressed his deepest condolences.
Mr. Mamun has remembered his contribution to the insurance sector of Bangladesh. He wishes that Mr. Alam would surely be remembered and honored forever in the insurance arena of the country.
Last but not the least, thousands of well-wishers, friends and family members are mourning the death of Mr. Alam.
His wife Chobi Alam, daughters Samira Alam, Sadia Alam and Shakera Alam Talpur, sons-in-law Joy Samad, Asanka Kinigama and Mir Faisal Talpur, and grandsons Ayaan and Arvin request every one for the eternal peace of the departed soul.
With his demise, the insurance industry of Bangladesh has lost its pioneer and will suffer this loss in the coming days as well.
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Mr. Abdul has been in insurance sector of Bangladesh for a decade. He is an Associate Member (ACII) of Chartered Insurance Institute of London.