Sandhani Life Insurance Co Ltd.

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Introduction

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. In the United States, the predominant form simply specifies a lump sum to be paid on the insured's demise.

Life insurance made its first appearance in England in sixteenth century, the first recorded evidence in England being the policy on life of William Gybbons on June 18,1653. Even before this date annuities had become quite common in England, and marine insurance had, in fact, made its appearance three thousand years ago. The life insurance developed at ‘Exchange Alley’. The first registered life office in England was the Hand-in-Hand Society established in 1696. The famous ‘Amicable Society for a Perpetual Assurance Office started its operation since 1706.

Company profile

Sandhani Life Insurance Company is a leading private life insurance company of the country, operating since 1993. It is chaired by Al-Haj Mockbul Hossain MP. Mr.Ahsanul Islam Titu MBA is the vice chairman and Mr. M.A Karim is the MD.

|Activities |Date/Number | |Date of Incorporation |January 23, 1990 | |Obtained certificate for commencement of business |March 28, 1990 | |Registered with the controller of Insurance |April 25, 1990 | |Prospectus issued for floatation of public shares |January 01, 1996 | |Subscription opened |January 08, 1996 | |Subscription closed |January 14, 1996 | |Listed with DSE |April 06, 1996 | |First trading of shares on DSE floor |April 06, 1996 | |First AGM of public share holders |August 25, 1996 | |First election of directors from public subscribers |November 20, 1997 | |Settlement of SLIC shares in demate mode in the CDS |April 27, 2004 | |Number of directors |19 | |Life fund at the end of the year 2008 |367.12 crore | |Bonus share for the year 2008 |35 shares for every 100 shares(35:100) |

Sandhani Life’s vision and mission:

▪ To ensure social and family protection through life insurance policy of all families of Bangladesh.

▪ To ensure highest possible services to shareholders and policyholders of the company with modern technology and dedicated professionalism.

▪ To settle and handover insurance...
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