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Company valuation reports, peer comparisons, results notes, industry reports and macro views, built from company filings and official data and independently reviewed before publishing. Company reports show their full model as view-only sheets. Facts and estimates, not investment advice.
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Company · DSE:SUNLIFEINS · Life insurance · Analysis · 29 Oct 2026
Sunlife Insurance: gross premium of BDT 186.7m in 2025 and a life fund of BDT 533.7m, both the lowest of seven years
Gross premium fell 21.5% in 2025 after a 69.5% fall in 2024. The life fund was BDT 533.7m at Dec-2025 and BDT 469.4m at Sep-2026 (DSE-announced). The auditor's report carries three emphasis of matter paragraphs and states the opinion is not modified; the board recommended no dividend for 2025.
Company · DSE:RUPALILIFE · Life insurance · Analysis · 29 Oct 2026
Rupali Life Insurance: gross premium of BDT 2.05bn in 2025, the lowest of seven years, and a qualified audit for a second year
Gross premium fell 6.1% in 2025 and first year premium was BDT 720.2m. The life fund closed 2025 at BDT 5,008.9m and was BDT 4,789.9m at Sep-2026 after deficits in each of the first three quarters. The auditor qualified the opinion on cash at bank (BDT 419.0m of unreconciled items) and an agent balance of BDT 249.0m with no provision.
Company · DSE:SANDHANINS · Life insurance · Analysis · 29 Oct 2026
Sandhani Life Insurance: the life fund shrank for eight years to 2024 and grew 2.3% in 2025; the 12% dividend took all of the surplus
Gross premium grew 1.1% to BDT 2,468m in 2025 while first-year premium fell for a third year; claims dropped to 73.7% of premium, the yield on the fund was 7.01%, the lowest in ten years, and EPS was BDT 1.20, equal to the cash dividend. The stock trades at 18.5x EPS and 1.23x NAV.
Company · DSE:SONALILIFE · Life insurance · Analysis · 29 Oct 2026
Sonali Life Insurance: a young life fund of BDT 9.0bn now paying out maturities of BDT 2.9bn a year, with BDT 1.1bn of legacy receivables in court
Gross premium rose 8.3% to BDT 8.66bn in 2025 and the life fund grew 11.3% to BDT 8.96bn, but maturity claims reached BDT 2.86bn and the fund fell by BDT 40.0m in Q3 2026. BDT 5.31bn sits in one product with five banks, BDT 3.89bn of it at one bank. A BDT 1,098.4m receivable from before 2023 is unreconciled and under legal recovery.
Company · DSE:POPULARLIF · Life insurance · Analysis · 29 Oct 2026
Popular Life Insurance: a life fund that has shrunk from BDT 22.9bn to BDT 13.8bn as maturities outrun a falling premium book
Gross premium fell to BDT 5.01bn in 2025, back to its 2017 level, while maturity claims of BDT 4.20bn took claims to 90.3% of premium. The life fund fell in 6 of the last 8 years and the Q3 2026 deficit of BDT 1,320.6m took it to BDT 13.82bn. EPS fell to BDT 1.47; the board kept a 20% cash dividend. The auditor qualified the 2025 accounts over cash commission payments and outstanding premium.
Company · DSE:PRAGATILIF · Life insurance · Analysis · 29 Oct 2026
Pragati Life Insurance: premium up 13% a year for a decade, a life fund that finally jumped 18% in 2025, and BDT 296m of doubtful deposits not yet provided for
Gross premium reached BDT 6.67bn in 2025 and the life fund grew BDT 1.21bn, more than in the four previous years combined, as claims fell and group business stopped losing money. The auditor says BDT 505.6m of deposits and related exposures look doubtful against a BDT 210m reserve. The stock trades at 37.4x bonus-adjusted FY2025 EPS with a 1.05% cash yield.
Company · DSE:DELTALIFE · Life insurance · Analysis · 29 Oct 2026
Delta Life Insurance: a BDT 40.7bn life fund that went nowhere for five years, eight straight years of negative operating cash flow, and EPS that doubled to BDT 8.64
Gross premium rose 7.9% to BDT 10.2bn in 2025 and the life fund grew for the first time since 2020, after a regulator-appointed administrator ran the company from February 2021 to September 2022. A third of invested assets sit in listed shares. The stock trades at 8.0x FY2025 EPS with a 5.1% cash yield.