“My main responsibility is to protect the policyholder interest and stop the anomalies,” Molla told Dhaka Tribune, adding that he has already started work. Sultan-ul-Abedine Molla, a former member of IDRA, has been appointed the administrator as per section 95 of the Insurance Act 2010. The Insurance Development and Regulatory Authority (IDRA) on Thursday dispatched an administrator to the Delta Life Insurance Company to protect policyholders after a special audit found financial irregularities in the country’s oldest insurer. Within a short span of time, the Company has created franchise value in the market by expanding its business network with a diversified product lines for all classes of client throughout the country.Sultan-ul-Abedine Molla, a former member of IDRA, has been appointed the administrator as per section 95 of the Insurance Act 2010 Delta Life Insurance Company Limited in the process of maintaining its vision has been developing new innovative products by its own Actuarial Department. Recently this insurance scheme has become widely popular and being implemented by other life insurers in the country and the model is being followed outside the country as well. A high degree of innovation and professionalism was used in designing and developing these insurance products so that it would appeal to the rural masses. The Gono-Grameen Bima is functioning well and playing an important role in earning revenue to enhance the company’s life fund and investment. In 2003, these two projects were merged into one to ensure cost effectiveness & efficiency and renamed as “Gono-Grameen Bima”. In 1993, Delta Life launched another Project named “Gono Bima” (People’s insurance) for the urban poor. Traditional insurers were not interested in Micro Insurance at that time because of its operational complexity, which requires high degree of innovation and expertise. Delta Life Insurance Company Limited was the first Company in Bangladesh to introduce Micro Insurance in 1988 in the name of “Grameen Bima Project” (Rural Insurance) for the rural poor and middle class people. The company is looking forward to provide attractive bonuses to the valued clients and thus transferring the Life Insurance into a profitable savings scheme. Delta Life Insurance Company Limited was established with the vision of providing financial security to the clients in addition to creating long-term capital in the market. The Company is listed with both the bourses of the country viz DSE & CSE. Meanwhile the Authorized Capital has also been increased to Tk. The Company raised its paid up capital to the tune of Tk. The Company has been sponsored by some renowned business entrepreneurs and professionals of the country attached with different industries, groups and professions. Shafat Ahmed Choudhury, the first Controller of Insurance of independent Bangladesh and the founder Managing Director of the Company. 1.5 Crore and an Authorized Capital of Tk.
The company started commercial operation on Decemwith a paid up capital of Tk. 1994) and registered under the then Controller of Insurance on Novemin accordance with the Insurance Act 1938. superadmin T16:17:07+06:00ĭelta Life Insurance Company Limited, a first generation Life Insurance Company of Bangladesh, was set up on Novemas a Public Limited Company under the Companies Act 1913 (presently the Companies Act. Adeeba Rahman, ACII (UK)Īddress: Delta Life Tower, Plot # 37, Road # 90, Gulshan Circle-2, Dhaka-1212
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