M Shamsul Alam, veteran insurance expert who helped shape the insurance sector of Bangladesh, has passed away at the age of 83 years.
He breathed his last at around 6am on Wednesday, according to a statement.
Born in Madpur of Pabna, Shamsul Alam joined the then Pakistan Insurance Corporation in 1960 after obtaining his Master’s degree. He was one of the major figures in shaping the insurance sector in the early years of an independent Bangladesh.
In his decorated career, Shamsul Alam worked in many organizations. A chartered insurer with Associateship of the Chartered Insurance Institute in the UK, he served as the chairman of Shadharan Bima Corporation in 1973-86 and chairman of Jiban Bima Corporation in 1986-87.
He was also the former chairman of Asian Reinsurance Corporation in Bangkok, Thailand, founding managing director of Reliance Insurance Ltd, and founding president of Baridhara Cosmopolitan Club Ltd.
Recognizing his outstanding contribution to the country’s insurance sector, Prime Minister Sheikh Hasina awarded Shamsul Alam with the Bima Padak March 1 this year.
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 everyone for the eternal peace of the departed soul.