Company · DSE:SIPLC · Insurance · Analysis · 31 Oct 2026
Sena Insurance: a fire and aviation insurer that cedes two-thirds of its premium and earns most of its profit from deposits
Army-welfare-owned general insurer. 2025 premium rose 47.5% and profit 20.3%, helped by a Tk 60m claims-reserve release; in H1 2026 claims doubled and agency commission disappeared, and nine-month EPS rose 18.5%.
What it is. Sena Insurance PLC (DSE: SIPLC), called Sena Kalyan Insurance Company Limited until August 2024, is a general (non-life) insurer incorporated in September 2013 and listed on the Dhaka and Chittagong exchanges after a public issue in 2021. Sena Kalyan Sangstha (SKS), the…
Company · DSE:PHENIXINS · Insurance · Analysis · 29 Oct 2026
Phoenix Insurance: 2025 EPS Tk 2.02, combined ratio 90.7% and a fire loss of Tk 48.1m
A Dhaka general insurer with no bank debt and City Bank shares with a market value of Tk 217.9m. In 2025 fire made a Tk 48.1m underwriting loss, share-sale gains were Tk 26.7m and EPS was Tk 2.02; nine-month 2026 EPS was Tk 2.05 against Tk 1.61.
What it is. Phoenix Insurance PLC (DSE: PHENIXINS) is a Dhaka general (non-life) insurer, incorporated as a public limited company in 1986, which went public in 1994. It writes fire, marine cargo, marine hull, motor and miscellaneous business. The name changed from Phoenix Insurance Company…
Company · DSE:KARNAPHULI · Insurance · Analysis · 29 Oct 2026
Karnaphuli Insurance: 2025 gross premium up 7.7%, net premium down 7.0% and a combined ratio of 82.2%
A fire-led Dhaka general insurer with no debt and Tk 877m of cash and deposits. In 2025 it ceded more premium, net premium fell 7.0% and EPS was Tk 2.13; nine-month 2026 EPS was Tk 2.20 against Tk 1.72.
What it is. Karnaphuli Insurance PLC (DSE: KARNAPHULI) is a Dhaka general insurer incorporated on 23 November 1986, writing fire, marine, motor and miscellaneous business through 31 branches. The name changed from Karnaphuli Insurance Company Limited with effect from 14 January 2025. It has 44,876,113…
Company · DSE:NITOLINS · Insurance · Analysis · 29 Oct 2026
Nitol Insurance: a Tk 705m-premium general insurer with a 72.7% combined ratio and three auditor emphasis paragraphs
A small general insurer, 39% fire and 33% marine by premium. 2025 profit rose 3.2% to Tk 81.5m; the auditor's emphasis paragraphs cover SBC balances, deposits in merged banks and an unfunded gratuity.
What it is. Nitol Insurance PLC (DSE: NITOLINS) is a Dhaka-based general insurer incorporated on 4 October 1999 and listed on the Dhaka Stock Exchange on 29 November 2005. It writes fire, marine, motor and miscellaneous cover through 26 branches. In 2025 it wrote Tk…
Company · DSE:PROVATIINS · Insurance · Analysis · 29 Oct 2026
Provati Insurance: fire lost money two years running, 2024 underwriting margin hit a ten-year low, and H1 2026 premium rose 34%
A Dhaka general insurer that writes mostly fire and marine cargo. 2024 profit fell 10.4% to Tk 79m with a 91.4% combined ratio and Tk 424.6m due from the state reinsurer; 2025 EPS was Tk 1.73 and H1 2026 profit rose 43%.
What it is. Provati Insurance PLC (DSE: PROVATIINS; the name changed from Provati Insurance Company Limited with effect from 20-Nov-2025) is a Dhaka general insurer with 40,312,237 shares of Tk 10. In 2024 it wrote Tk 1,140.1m of gross premium: 45.9% marine (cargo and hull),…
Company · DSE:PEOPLESINS · Insurance · Analysis · 29 Oct 2026
Peoples Insurance: underwriting profit doubled in 2025 on a fire-claim release, and 2026 shows no commission and lower premium
A marine-led Dhaka insurer with no debt and Tk 1.6bn in deposits. 2025 profit rose 47.8%, with Tk 112m of fire-claim provisions released after claims were repudiated; H1 2026 profit nearly doubled with no agency commission while premium fell 29.3%.
What it is. Peoples Insurance PLC (DSE: PEOPLESINS; the name changed from Peoples Insurance Company Limited with effect from 20-Nov-2025) is a Dhaka general insurer with 46.2m shares of Tk 10 and Tk 200m of share premium. It wrote Tk 844m of gross premium in…
Company · DSE:BNIPLC · Insurance · Analysis · 29 Oct 2026
Bangladesh National Insurance: rising profit, carried by interest, with 57% of its deposits in one bank
A Meghna Group general insurer whose pre-tax profit has risen every year since 2016. In 2025 investments supplied 85% of it while underwriting profit fell; nine-month 2026 underwriting profit doubled after agency commission ended.
What it is. Bangladesh National Insurance PLC (DSE: BNIPLC; traded as BNICL until 12-Oct-2026) is a general (non-life) insurer incorporated on 21-May-1996 that listed on the DSE and CSE through an IPO on 21-Apr-2016. It writes fire, marine cargo, marine hull, motor and miscellaneous business;…
Company · DSE:PIONEERINS · Insurance · Analysis · 29 Oct 2026
Pioneer Insurance: a fire-led top-three insurer whose 2026 profit rose after agency commission was discontinued
A Tk 3.9bn-premium general insurer, half of it fire. 2025 premium rose 20% but profit fell 5% as commission and expenses grew; in 2026 the company says discontinuing agency commission lifted EPS, while marine claims rose sharply.
What it is. Pioneer Insurance PLC (DSE: PIONEERINS) is a Dhaka general insurer incorporated in 1996 and listed in 2001. It calls itself one of the 'Big Three' non-life insurers by gross direct premium. In 2025 it wrote Tk 3,876m of gross premium, 49.3% fire…
Company · DSE:GREENDELT · Insurance · Analysis · 29 Oct 2026
Green Delta Insurance: a 38.9% combined ratio built on reinsurance, with Tk 3.99bn due from reinsurers and overdraft costs above investment income
Bangladesh's largest private general insurer cedes 58% of its premium and earns Tk 893m of reinsurance commission back. 2025 company profit rose 13.7%, but subsidiaries cut group EPS to Tk 5.44, finance cost exceeded investment income, and H1 2026 profit fell 8.1%.
What it is. Green Delta Insurance PLC (DSE: GREENDELT) was incorporated in 1985, listed in 1990 and writes fire, marine, motor, aviation, health and other general insurance through 30 branches. It wrote Tk 5,400m of gross premium in 2025, up 31.5%, of which fire was…
Company · DSE:RELIANCINS · Insurance · Analysis · 29 Oct 2026
Reliance Insurance: low-cost underwriting and a big bond book, with a fire loss and an SBC receivable to watch
A fire-led corporate insurer that cedes 70% of its premium. 2025 profit fell 7.7% on the airport cargo-village fire; H1 2026 profit rose 21% after IDRA suspended agency-commission licences from 1-Jan-2026.
What it is. Reliance Insurance PLC is a Dhaka-based general insurer founded in 1988 with 21 branches. It wrote Tk 5,410m of gross premium in 2025, 61.5% of it fire insurance, and kept only Tk 1,597m (29.5%) after reinsurance. The business is corporate: multinationals and…