Company · DSE:UNIONINS · Insurance · Analysis · 02 Nov 2026
Union Insurance: 2025 EPS Tk 1.90, combined ratio 77.6%, qualified opinion and Tk 968.0m due from Sadharan Bima
A Dhaka non-life insurer with Tk 931.0m of equity at 31-Dec-2025. 2025 net premium was Tk 721.1m, underwriting profit Tk 121.9m and EPS Tk 1.90; the auditor qualified the opinion on claims, balances with other insurers and tax.
What it is. Union Insurance PLC (DSE: UNIONINS) is a non-life insurer incorporated on 24 August 2000 that writes 'All types of Non-Life Insurance Business (Fire, Marine, Motor & Miscellaneous etc.)'. The corporate-information page prints 47 branches, about 570 employees and a 20-member board. Its…
Company · DSE:JANATAINS · Insurance · Analysis · 02 Nov 2026
Janata Insurance: 2025 EPS Tk 1.10, combined ratio 78.5% and Tk 353.0m due from Sadharan Bima
A Dhaka general insurer with Tk 730.8m of equity and Tk 678.9m of cash and bank balances. 2025 net premium rose 7.8% to Tk 445.9m and EPS was Tk 1.10; the auditor's opinion is unmodified with three emphases of matter and three key audit matters.
What it is. Janata Insurance PLC (DSE: JANATAINS) is a general insurer incorporated on 23 September 1986 that offers fire and allied perils, marine cargo and hull, motor and miscellaneous insurance. The notes say it listed on the Dhaka Stock Exchange in 1994 and the…
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:MEGHNAINS · Insurance · Analysis · 29 Oct 2026
Meghna Insurance: 2025 gross premium up 40.4%, underwriting profit Tk 36.2m, combined ratio 75.2%
A Dhaka general insurer writing 70.4% of its premium in marine cargo. In 2025 gross premium rose to Tk 1,250.1m, underwriting profit fell to Tk 36.2m, interest income was Tk 53.8m and EPS Tk 1.35; nine-month 2026 EPS was Tk 0.93 (2025: Tk 0.98).
Meghna Insurance PLC is a Dhaka-listed general insurer with 40,000,000 shares of Tk 10, listed on DSE on 1 June 2022 after an initial public offering that raised Tk 16.00 crore. In 2025 gross premium rose 40.4% to Tk 1,250.1m and net premium rose 50.2%…
Company · DSE:TAKAFULINS · Insurance · Analysis · 29 Oct 2026
Takaful Islami Insurance: a Tk 810m-premium Shariah-based insurer with an 83.5% combined ratio and an 'except for' audit opinion
A Shariah-based general insurer, 64% marine cargo by premium. 2025 company profit fell to Tk 52.8m; nine-month 2026 EPS was Tk 1.88 against Tk 1.13, with commission down 83%.
What it is. Takaful Islami Insurance PLC (DSE: TAKAFULINS) describes itself as 'one of the leading insurance Companies doing insurance business on the basis of Islamic Shariah in the private sector' that underwrites 'all classes of non-life insurance business in Bangladesh' through 52 branches. It…
Company · DSE:NORTHRNINS · Insurance · Analysis · 29 Oct 2026
Northern Islami Insurance: 2025 EPS Tk 1.68, combined ratio 101.0% and a qualified audit
A Dhaka general insurer with Tk 959.3m of bank FDRs and Tk 693.9m of outstanding claims. In 2025 gross premium fell 23.4%, interest income was Tk 77.8m, underwriting profit Tk 63.0m and EPS Tk 1.68; nine-month 2026 EPS was Tk 1.32 against Tk 1.36.
Northern Islami Insurance PLC is a Dhaka-listed general insurer with 42,659,611 shares of Tk 10. In 2025 its gross premium fell 23.4% to Tk 690.9m and net premium fell 32.5% to Tk 315.5m. Profit after tax was Tk 71.8m (EPS Tk 1.68) against Tk 77.3m…
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:ISLAMIINS · Insurance · Analysis · 29 Oct 2026
Islami Insurance Bangladesh: a Tk 688m-premium takaful insurer with a 67.7% combined ratio and four auditor emphasis paragraphs
A Shariah-based general insurer, 48% marine and 39% fire by premium. 2025 profit fell 10.9% to Tk 125.1m; the auditor's emphasis paragraphs cover land depreciation, the management-expense limit, the gratuity fund and a VAT gap.
What it is. Islami Insurance Bangladesh Limited (DSE: ISLAMIINS) was incorporated on 25 October 1999 and received permission to start insurance business on 29 December 1999. The directors' report describes it as the first Islamic insurance company approved in Bangladesh, to 'introduce Islamic Sharia-based insurance'.…
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:PRAGATIINS · Insurance · Analysis · 29 Oct 2026
Pragati Insurance: a fire-and-marine insurer with a heavy balance sheet, now earning more without agency commission
A 1986 general insurer that writes Tk 2.7bn of premium, keeps 54% and earns as much from deposits and rent as from underwriting. Its 2025 combined ratio of 71.2% is the highest of four peers; in H1 2026 commission fell to Tk 0.2m and profit rose 37% while premium fell 8.5%.
What it is. Pragati Insurance PLC (DSE: PRAGATIINS) is a Dhaka general insurer incorporated on 27 January 1986 and listed on the DSE since 1996. It wrote Tk 2,711m of gross premium in 2025: 44.5% fire, 39.8% marine (cargo and hull) and 15.7% motor and…
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:CITYGENINS · Insurance · Analysis · 29 Oct 2026
City Insurance: a marine insurer earning two-thirds of its profit from interest, with commission gone in 2026
A marine-cargo insurer that keeps two-thirds of its premium. 2025 profit rose 10.5% on a jump in FDR interest while fire claims hit underwriting; H1 2026 profit rose 66% with no agency commission, as premium fell 13.6%.
What it is. City Insurance PLC (DSE: CITYGENINS, formerly City General Insurance) is a Dhaka general insurer that listed through an IPO in 2007 and raised a rights issue in 2011. It wrote Tk 939m of gross premium in 2025: 56.7% marine cargo, 33.3% fire,…
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…