J B Boda & Co. Pvt. Ltd.
The Pioneers: The J B Boda Group was founded by our Late Chairman Mr. Jagmohandas Bhagwandas Boda; way back in 1943, when he set out from the small coastal town of Porbandar (Gujarat State) to Mumbai, the commercial hub of India, to start Reinsurance Broking operations, with his brother, Late Mr. Dhirajlal Bhagwandas Boda. In those days, Reinsurance Broking was unheard of in India and the insurance business of the country was in the hands of European and American giants in the industry. Their painstaking professionalism, unimpeachable standards of conduct and reputation for fair dealing enabled J B Boda Group to develop an organization of respectable size from a relatively modest beginning. He pioneered Reinsurance Broking in India and today we are the largest and oldest Reinsurance Broker in India and Developing Countries, and the only Indian Multinational Reinsurance Broking House operating for over seven decades. The legacy of the pioneers has stood us in good stead. Our simple fundamental principle is SERVICE – service with sincerity, honesty and integrity and this is what has given the name that the J. B. Boda Group enjoys in the industry today. Genesis and The Surge: One thing led to another and J B Boda Group started Insurance related services such as Protection and Indemnity (P & I) Insurance, various types of Fire, Marine & Engineering Surveys, highly skilled and technical Off- Shore and On- Shore Surveys related to oil & energy, Life fund valuation and product development. The willingness to cater to demands and requirements of clients worldwide inspired Group to open offices outside of Mumbai Head Quarters in Singapore, London, Dubai, Nepal, Pakistan and Kenya globally and 25 offices locally spread on Pan India. With over 1,000 personnel in India and Overseas includes qualified and experienced Insurance and Reinsurance Professionals, Risk Management Professionals, Charted Accountants, Valuers, Master Marine, Naval Architects, Licensed Surveyors, etc. The Group is associated with 300 companies spread across 80 countries supporting innovative approach to facilitate our client’s needs in their changing requirement from time to time. Recognising the importance of London as the nerve centre of the international reinsurance market, Group opened a Liaison Office in London in 1967. In 1986 a U.K. registered company was formed. On 6th December, 2001 the U.K Company of the J. B. Boda Group received accreditation as Lloyd’s Broker – a good testimony of its reputation and standing in the London market. With this achievement J. B. Boda became the FIRST ASIAN Broker at LLOYD’S. Since insurance companies in Africa were in a state of early development in the late sixties and were only serviced by London Brokers, the J B Boda Group ventured in to the African Continent in 1965 not only to help, guide and structure their reinsurance programs, but also provide training opportunities and facilities to their personnel. In 2015, we completed 50 glorious years of operations in Africa and are serving clients in more than 30 countries. We are the founder member of FAIR Brokers and Consultants Society (F.B.C.S.) under the umbrella of FAIR. The combination of professionalism and an almost missionary zeal to help small and fledging companies made J B Boda Group one of the leading overseas reinsurance brokers in African continents. The same focus made J B Boda Group more acceptable in Asia than some other competitors. This growing popularity and base then led to the opening of an associate company in Singapore in 1981. Continually growing relationship & opportunities in the Middle East region encouraged group to open a representative office in Dubai to enhance the level of service with more visibility.
Our track record includes:
- Mega risks of Off-shore & On-shore, Oil & Energy Business, Aviation and Space risks and Government of India’s Satellite Programmes.
- Handling insurance and reinsurance programmes in respect of Agricultural and Cattle Insurances in addition to other specialty products.
- Setting up of the Terrorism Pool in Nepal in 2004-05.
- Placing of reinsurance business with well rated securities for specialized Companies such as Export Credit Guarantee Corporation of India Limited (ECGC) and Agriculture Insurance Company of India Limited (AICL).
Considering the changing needs of the industry, we started with cat modeling and analytics by collaborating with leading risk modeling companies, and actuaries to offer solutions to our global clients. We strive to keep our clients updated about various activities of global insurance and reinsurance industry through our monthly newsletter, MEDIAN – along with specialised newsletters BLOSSOM (targeted to agriculture insurance and reinsurance segment), EARTH (on Cat Modeling) and TENET (on Liability). Our learning / training centre in Mumbai called J B BODA ACADEMY is set up to meet training needs of our clients in India and abroad. We continue to carry out several training courses on reinsurance methods, reinsurance accounting, rating of treaties and facultative proposals etc through our Mumbai and Overseas offices for clients of Bangladesh, Botswana, Ethiopia, Kenya, Mauritius, Nepal, Pakistan, Sri Lanka, and Zimbabwe. We use platforms like industry conferences and seminars to spread positive vibes about insurance industry. The ever growing success story of J B Boda Group over seven decades is result of the proactive management, with personal involvement of the Second and Third generation of Boda family, committed to serve the industry blended with trained and experienced human resources supported by robust IT infrastructure that has enhanced the Group efficiency to meet ever changing trends.
Maker Bhavan 1 Sir Vithaldas Thackersey Marg, Churchgate, Mumbai, , India - 400 020