VIP Industries Ltd., insured by Bangladesh General Insurance Company (BGIC) PLC, faced a devastating fire at its VIP-1 Bag Factory in Mangla EPZ, Khulna, on January 31, 2023. Following the incident, VIP Industries applied to BGIC for an advance payment. BGIC recovered Tk 110 million from foreign reinsurers through Broker Protection Re and handed over the insurance claim cheque to VIP Industries at the BGIC's Head Office recently. BGIC's Chief Executive Officer Ahmed Saifuddin Chowdhury along with senior officials and VIP's top management were present at the cheque handover ceremony.
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