Sonali Life Insurance Company Limited (SLICL), held its 10th Annual General Meeting (AGM) on Thursday, 28th September, 2023 virtually by using digital platform Zoom.SLICL is amongst the top most trusted Company in the Life Insurance Industry in Bangladesh.
Mrs.Noor-E-Hafza, Chairman of the Board of Directors of Sonali Life Insurance Company Limited, presided over themeeting, which was attended virtuallyby majority of the shareholders and directors of the Company.
During the AGM, Cash dividend of 20%i.e., BDT 2.00 per share for the year 2022, was confirmed andapproved based on paid-up capital is BDT 47.50Crore. which is Tk.2.00 per share of Tk.10 each for all the shareholders as on December 31, 2022 outofthe surplus availablefor shareholdersascertified bytheActuary.
Sonali Life Insurance Company Ltd. has declared the highest bonus rate when compared to all the 4th generation life insurance companies. For the year ended 31stDecember, 2022, in Accordance with Company’s valuation of the asset and liabilities, Sonali Life Insurance Company Ltd. has declared Taka 83 as bonus per thousand of sum assured on all active individual policies with profit. Reversionary bonus will be applicable to all policies with profit which are active as on 31stDecember, 2022.Bonus will be payable to the policy holder on maturity or to the nominee in case of death here applicable, until the next bonus declaration.
Speaking about the performance of the Company, Noor-E-Hafza said,
Sonali Life Insurance company is advancing in line with its strategic agenda of exceptional service, growth & transformation having attained bottom-line growth & a volume-led growth this year in our journey towards making a difference to our stakeholders”.
The Company’s gross premium BDT 614.28crores increased 92.10% more than 2021. Consequently, the Life Fund BDT 603.56 crores increased 103.20% more than 2021. Since the inception of the Company, SLICL has settled a total of more than 9,718Death, Supplementary and Surrender claims in both Group and Individual all of which were settled within 7(Seven) working days. SLICL has also paid more than 22,950 Survival Benefit, Part Maturity and Full Maturity claims all of which were paid on the Due date.In doing so, Sonali Life Insurance Company Limited is earning the trust of its customers.
A large number of shareholders attended the meeting wherein all proposed agendas were unanimouslypassed as per Notice. The major activities of the AGM were: adoption of the Director’s Report andAuditor’s Report along with the Audited Financial Report of 2022, election/re-election & appointment of theDirectorsandappointmentofIndependentAuditors.
About Sonali Life Insurance Company Limited
Sonali Life Insurance Company Limited (SLICL) was incorporated in Bangladesh on July 07, 2013 under the Companies Act, 1994 as a public company limited by shares for carrying out all kinds of Life insurance activities. SLICL was granted Certificate from RJSC of Commencement of Business on 7th July 2013 for life insurance business. The CompanyobtainedtheCertificateofRegistrationfromtheInsuranceDevelopmentandRegulatoryAuthority(IDRA)on July 30, 2013 under Insurance Act 2010. The Authorized capital of the Company is Tk. 100.00 Crore consisting of 100,000,000 ordinary shares of Tk.10.00 each and paid-up capital is BDT 47.50Crore.
Since its establishment in 2013 as one of the leading life insurance companies in the private sector, the Company has within a short span of time established itself as one of the most reputed, trustworthy, transparent and fully automated ERP based life insurance companies in the country. Selective underwriting and prompt settlement of claims have contributedtowardsbuildingupaveryrespectableimageoftheCompanywithinthebusinesscommunity.InTenyears of operations, Sonali Life Insurance Company Limited has established over 190 branches and service centers across thecountry.
