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Credit Rating

CREDIT RATING REPORT

  Ratings  
Long Term A1
Outlook Stable
Date of Rating 26-10-2015
 

Credit Rating Agency of Bangladesh Ltd. (CRAB) has affirmed the long term rating of Sandhani Life Insurance Company Ltd to A1(Pronounced Siingle A One) based on audited financials and actuarial valuation report up to 31st December 2014 other relevant information.

Life Insurance Companies rated A1 in long-term belong to "Strong Financial Security" cohort, however, they are somewhat more likely to be affected by adverse business conditions than the Insurers with higher ratings.

The rating reflects the company's strength in adequate capital , satisfactory profitability and good quality of investment assets as well as sound liquidity position.

Net premium of SLIC in 2014 reached BDT 2,220.7 million. Renewal premium income still dominated the gross premium with an average of 70.4% for the last five years followed by first year premium (28.9%). Core business of SLIC came from ordinary life insurance products followed by Takafull insurance products. .

The Company had consistent growth of life fund for the last years on the back of cost control and high yield.Life fund grew by 2% in the which compared to its previous period 2014

As per recommendation of actuarial report and in line with profit distribution law of Insurance Act. a sum of BDT 910.1 million was allocated for distribution among the policyholders. It was also recommended that an amount of BDT 109.9 million might be distributed among shareholders as dividend. The distribution composition did not exceed the set limit of distribution to the shareholders, i.e. maximum 10% of total distribution. An amount of BDT 51.89 million was kept as unallocated surplus..