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: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: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: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: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: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,…