Meghna Life Insurance Report: Company Overview, Policies, Performance Analysis

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DHAKA CITY COLLEGE
A Centre of Excellence
DEPARTMENT OF
BUSINESS ADMINISTRATION - BBA Program
AN REPORT
ON
MEGHNA LIFE INSURANCE
COMPANY LIMITED

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Submitted To:
Ms. Refatun Nahar
Lecturer
Department of Business Administration – BBA Program
Submitted By:
THE NEXUS
Section: E
Batch: 18th
Session: 2015-2016
Submission Date: 20-12-2017

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Group Information
Group name: THE NEXUS
MEMBERS NAME ID CHAPTER
Hanif Nahid (Leader) 365 5
Munmun Akter Mukta 362 3&4
Soheli Parvin Shanta 372 7
Zannatul Fardous 373 2
Arifa Sultana 374 1&8
Md.Prince Sarker 375 6

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Letter of Submission
20th
December, 2017
Ms. Refatun Nahar
Lecturer
Dhaka City College
Road # 2, Dhanmondi,
Dhaka- 1205.
Subject: Submission a report on Meghna Life Insurance Company Limited.
Dear Madam,
With due respect, the student of group ‘THE NEXUS’ BBA (18th batch), section-E have
completed the report paper based on the study on ‘Meghna Life Insurance Company
Limited’ as the Course requirement of the BBA program.
Here, we tried carry on the overall insurance activities of the company in an objective
manner. We tried our best to work sincerely to cover all aspects regarding the matter.
Though we faced some limitations in preparing this report, we have thoroughly enjoyed
in preparing this report which has contributed significantly to our understanding of
practical knowledge.
We have tried our best to complete this report without any fault. We hope that you will
take any mistake with kind consideration and appreciate our effort.
Sincerely
Hanif Nahid
(Group leader)

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ACKNOWLEDGEMENT
All gratitude and thanks to almighty ALLAH the gracious, the most merciful and
beneficent who gave me courage to undertake and complete this task. I am very much
obliged to my ever caring and loving parents whose prayers have enabled to reach this
stage.
I am grateful to almighty ALLAH who made me able to complete the work presented in
this report. It is due to his unending mercy that this work moved towards success.
I am highly indebted to my supervisor Ms. Refatun Nahar madam for providing me an
opportunity and guide me to do this report. I am very grateful to officers of MEGHNA
LIFE
Providing me guideline for the completion of this report.
I feel great pride and pleasure on the accomplishment of this report.

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Executive summary
I started my report in Meghna Life Insurance Company at DHAKA.
I worked for two weeks there and it gives me a lot of practical knowledge about the
operation of an insurance company. I have learned many things in this duration. In the
following pages i have summarized my experience, observations d working activities
which i observed in my report period. This report will discuss proposed steps of
developing and HR Department within Meghna Life Insurance.
It will outline following:
 History.
 Departments.
 SWOT analysis.
 Financial analysis.
The source of information used during the preparation of the report includes
 Personal observations.
 Discussions with staff & management.
 Annual reports.
 Handouts.
 Different websites.
Report is based on my personal experience & observations about insurance sector
which
I gain during my Report in state life.

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TABLE OF CONTENT
CHAPTER: 1
INTRODUCTION
NO. PARTICULARS PAGE
1.1 Introduction. 11-12
1.2 Objectives of the study. 13
1.3 Scope of the study. 14
1.4 Methodology of the study. 14-15
1.5 Limitations of the study. 15-16
CHAPTER: 2
COMPANY OVERVIEW
2.1 Company introduction. 17-18
2.2 Historical background. 18-20
2.3 Vision, mission, goal and objectives. 21
2.4 Management team. 22-26
2.5 Organizational structure. 27
2.6 Branches and offices. 28
2.7 Company performance and growth. 29-30
2.8 Capital and expenditure.

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2.9 Challenges. 31
2.10 Future plans. 32-33
CHAPTER: 3
INSURANCE POLICIES & CONDITIONS
3.1 Insurance policies. 34-38
3.2 Policy conditions. 38-40
3.3 Contents of agreement. 41
CHAPTER: 4
RISK ISSUED OF MEGHNA LIFE INSURANCE
COMPANY
4.1 Definition of risk. 42
4.2 Types of risk. 42-43
4.3 Risk measurement tools. 43-44
4.4 Risk management process. 44-45

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CHAPTER: 5
INSURANCE PRICING, CLAIM SETTLEMENT, INSURANCE
MARKETING & REINSURANCE OF MEGHNA LIFE INSURANCE
COMPANY
5.1 Pricing tools. 46-47
5.2 Pricing process. 47-48
5.3 Pricing elements. 49
5.4 Claim settlement procedure. 50
5.5 Insurance marketing techniques. 51
5.6 Reinsurance management. 52-53
CHAPTER: 6
PERFORMANCE ANALYSIS OF THE
COMPANY AND COMPARISION
WITH PEER GROUPS AND INDUSTRY AVERAGE
6.1 Tread analysis (Ratio analysis
for 5 years)
54-60
i) Data presentation
ii) Graphical representation
iii) Result interpretation
6.2 Cross sectional analysis 60-62
6.3 Common size statement analysis 63
6.4 Scenario analysis 63
6.5 Sensitivity analysis 64

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CHAPTER: 7
COMPANY ANALYSIS
7.1 SWOT Analysis 65-68
i) Strength 68
ii) Weaknesses 69
iii) Opportunities 69
iv) Threats of the
company
69
7.2 Situation analysis 70-72
CHAPTER: 8
FINDINGS, RECOMDATIONS & CONCLUSION
8.1 Findings from
performance analysis 73-74
8.2 Alternative strategies
and recommendation
74
8.3 Conclusion remarks 75
Bibliography 76-77

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CHAPTER: 1
INTRODUCTION
NAME: ARIFA SULTANA
ID: 374

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1.1 Introduction
This report is done on the basis of research in different department of Meghna Life
Insurance Company Limited.
The insurance industry consists mainly of insurance carriers (or insurance) and
insurance agencies and brokerages. Meghna Life Insurance Company Limited set
before itself a high standard of all round performance co-extensive with professional
soundness and proficiency.
In addition to supporting these two primary components, the insurance industry includes
establishments that provide other insurance-related services, such as claims adjustment
or third party administration of insurance and pension funds. The report discloses origin
of insurance, market position, risk and review, financial report and requirement of
general insurance business.
Meghna Life Insurance Co. Ltd. was emerged in 1996. The main object of Meghna Life
Insurance was to provide maximum financial security to a person and families by giving
modern Insurance facilities. There are 46 general insurance companies including 32 life
insurance companies and Meghna Life Insurance Company Limited is one of the most
popular life insurance companies on the basis of premium income.
This success has been possible due to constant guidance supervision and ceaseless
efforts of the Honorable Chairman and Directors and the present competent
management. It introduced an array of conventional Life and other Insurance products
of Ekok Bima, Loko Bima and Islami Bima(Takaful) many of which were the first in
Bangladesh. For the first time Hospitalization benefit Insurance product was also
introduced by Meghna Life.

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1.2 Objectives of the study
Objectives of the study of MEGHNA LIFE INSURANCE COMPANY LIMITED
are as follows:
 The main objectives of is to introduce with one of the insurance company of
Bangladesh.
 To find out the companies different performance of their services.
 To provide an overviews of Meghna Life Insurance Company Limited.
 To measure the important ratio of Meghna Life Insurance Company Limited.
 To know different services rendered by this insurance company.
 To determine the importance of those ratio for the company.
 To improve working ability for doing better financial performance.
 For making financial decisions.

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1.3 Scope of the study
While working on the authorized topic the problem was to identify provided facility under
general insurance policy by Meghna Life Insurance Company Limited and some other
rival insurance companies, and to compare them. Book knowledge is not enough to
understand one companys financial information. It is one of the renowed insurance
company of Bangladesh. By analyzing the financial ability and many more related
information.

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1.4 Methodology of the study
We have collected the necessary information:
a) Data Collection.
 Primary sources
 Secondary sources
b) Data Analysis.
Data Collection:
 Primary sources:
We have directly collected the information by visiting the head office of Meghna
Life Insurance Company Limited in Dhaka .
 Secondary sources:
 Annual report of the company.
 Progress report , statement affairs and academic sheet of the company .
 Several kinds of academic test book and training sheet.
 Newspaper.
 Website (www.meghnalifeinsurancecompany.com)

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Data Analysis:
Other information analysis here:
1. Ms Word
2. Ms Excel
3. Ms Power point
4. Ms Access
1.5 Limitations of the study
The limitation of the study is defined by the expensiveness of the facts covered by the
study abed those that left out. We have faced some problems while preparing this
report. Some of the limitation of the study can be presented are as follows:
 Collecting information as little bit difficult.
 It was difficult to arrange a suitable time for all members.
 There was lack of experience which made limitations in the report.
 We took information from their different report and publications. So, reports may
vary from time. We could not explain everything in details are there was limitation
of time.

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CHAPTER: 2
COMPANY OVERVIEW
NAME: Zannatul Fardaus
ID No: 373

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2.1 Company Overview
The report is starts with the introductory part of this report including objective ,scopr,
limitations and methodology of the study.
Meghna Life Insurance Company Limited set before itself a high standard of all round
performance coextensive with professional soundness and proficiency. It soon made a
mark in the life insurance arena by not only being the leader among the private sector
indigenous companies, but by undertaking and successfully implementing innovative
and welfare oriented life insurance schemes.
The report discloses origin of insurance, market position, risk and review, financial
report and requirement of general insurance business
There are approximately 44 General Insurance Companies including 17 Life Insurance
Company and Meghna Life Insurance Company Limited is one of the most popular life
insurance companies on the basis of premium income.
There are two types of insurance business are popular visualization.
1. General Insurance or Property and liability insurance.
2. Life Insurance.
2.2 Historical Background of Insurance
In the year 1996 some enthusiastic Bangladeshi professionals along with some others
of similar state of mind dreamed of establishing a Life Insurance Company in order to
participate in the financial activities of the country such as reduction of unemployment,
alleviation of poverty and to contribute to the nation for the upliftment of the lot of
common people. Eventually due to ceaseless efforts and courageous initiative of the
Chairman and some other entrepreneurs, Meghna Life Insurance Co. Ltd. was emerged
in 1996. The main object of Meghna Life was to provide maximum financial security to a
person and families by giving modern Insurance facilities. Its other objectives are to turn
it into a profitable savings institution through payment of bonus at an attractive rate and
enriched servicing and invest the accumulated small savings in the nation building
various welfare and profitable projects.

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The authorized capital of the company is Tk. 60 crore and paid up capital at present
stands at Tk. 25,33,78,040/-.
In 1996 Premium income, Life Fund & Investment was Tk. 3.30 crore, Tk. 0.04 crore&
Tk. 2.59 crore respectively and in 2014 such Premium income, Life Fund & Investment
increased to Tk. 443.15 crore, Tk. 1340.67 crore& Tk. 803.06 crore respectively. From
1996 to 2015 Meghna Life paid 1145 crore taka as death claim, survival benefit,
maturity claims and bonus to the policy holders. This success has been possible due to
constant guidance supervision and ceaseless efforts of the Honorable Chairman and
Directors and the present competent management.
It soon made a mark in the Life Insurance arena by not only being the top listed among
the Private sector indigenous companies, but by undertaking and successfully
implementing innovative and welfare oriented Life Insurance schemes. It introduced an
array of conventional Life and other Insurance products of LokoBima, IslamiBima
(Takaful) SwanirvorBima and IslamiKhudraBima (Takaful) many of which were the first
in Bangladesh. For the first time Hospitalization benefit Insurance product was also
introduced by Meghna Life.
Problem of Insurance Business in Bangladesh:
Physical Hazard:
Physical hazard indicate those dangers of the subject matter of insurance which can be
ascertained or identified by mere inspection of the risk. The hazards are apparent in the
subject-matter itself.
Marine:
The nature of the cargo, whether these are more susceptible to damage, fragile nature
of the cargo like fish, or glass item which are more prone to breakage. Bad quality
packing creates more losses.
Voyage itself may be hazardous particularly during monsoon period in our country.
The nature, construction, age, classification and condition of a vessel.
Fire:
Nature and construction of the building. Materials used in the construction and whether
such materials are of combustible or non-combustible nature. The system of lighting
and heating of the premises. Whether the electrical wirings are in good shape or worn-

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out. Whether the premises are kept clear. Rubbishes scattered here and there help fire
to spread.
Indiscriminate smoking throughout the premises, particularly if it is a factory where
inflammable materials are required to be kept, is in itself an example of physical hazard.
Life:
Age and condition of health of the proposer. Family history of any hereditary disease,
cancer, tuberculosis, blood pressure, heart disease etc.
History of any illness of the proposer. The occupation of the proposer.
For example: Publican’s factory workers etc. are more hazardous from life insurance
point of view.
Accident:
In motor insurance, the age, make, condition previous accidents, are all examples of
physical hazard.
In burglary insurance, the construction of the house, condition of doors and windows,
existence or otherwise of burglar alarms, nature of contents, reputation or otherwise of
the area are all example of physical hazard.
In personal accident insurance, physical hazard relates to age, occupation, health,
physical condition etc, of the proposer.
In liability insurance, the nature contribution, occupation of the premises and history lf
past liability are all instances of physical hazard. In property insurance, the concept
follows the pattern of fire insurance.
Carelessness:
It is an implied condition of ass insurance contracts that the insured must take all
reasonable precaution in averting or minimizing a loss.
Difficult Insured. An insured may be always uncompromising and litigation minded.
Fraud:
A very unsatisfactory moral hazard exists when a person wants to take out a policy with
the intent to make profit.

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2.3 Vision, Mission, Goal & Objectives
Company Vision
Meghna Life insurance’s vision is committed to assure standard that make every
insurance transaction a pleasurable experience. They offer the customers through
accuracy, reliability, timely delivery, cutting edge technology.
Company Mission
The mission of the Meghna Life Insurance Co. Ltd. provide high quality value adding
service to every customer and to; be the recognized leader in Bangladesh in providing
such financial Services
Goal
 Customer focus.
 Respect for individuals.
 Team work.
Objectives of meghna life insurance company
The main objective of the study is to reveal the following overall insurance business in
Bangladesh along with the specific objectives through review of the policy –holders
servicing of Meghna Life Insurance Company Limited.
To identify the reason of dissatisfaction of the policy holders in the process of servicing.
To identify the organizational and environmental weakness and futilities of Meghna life
connected with the process of servicing
To prepare necessary recommendations to develop the standard of service.
The above objectives have been focused in the study of the context of Meghna life.

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2.4 Management Team
BOARD OF DIRECTORS
Mr. Nizam Uddin Ahmed
Chairman
Mrs. HasinaNizam
Vice-Chairman
Mr. Nasir Uddin Ahmed
Director

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Mr. Riaz Uddin Ahmed
Director
Narayan Chandra Rudra
Chief Executive Officer (CEO)
Lt. Col. M Shamsuddin Ahmed (Retd.)
Director - Marketing & Development
Professor Md. Mohiuddin
Director - Admin & HR

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Deb Proshad
Consultant
D.S. Taiful Islam
Addl. Managing Director
Mohammad Tarek, FCA
Deputy Managing Director & CFO
Md. Abul Bashar
Deputy Managing Director

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Md. RakibulHasan
Deputy Managing Director
DMD
Md. Abdur Razzaque
Sr. Executive Director
Md. Faruk Ahmed Siddique
Executive Director
Saifuddin Ahmed Opu
Executive Director & Head of IT
.

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Aziz Ahmed
Joint Executive Director & Company Secretary
MianMohd. Mashiur Rahman
Joint Executive Director
. Md. Nizam Uddin (Anis)
Joint Executive Director
. Md. Shamsul Hoque
Senior General Manager
.
S M Shahadat Hossain
General Manager

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2.5 Organizational Structure

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2.6 Branches and Offices
SI NO. Dis. Address
1 Dhaka BimanBhabon 2nd
floor, 100 motijheel commercial
area.
2 Dhaka Muslim Bazar ,Pallabi.
3 Chittagong Ajmol arcade 3rd
floor 1806, Sheikh mujib road.
4 Bogra Sumon complex 2nd
floor, sherpur road, Bogura
5 Comilla Gonibhuiya mansion 2nd
floor, Mohonpur, Comilla
6 Feni Feni Super Market 3rd
floor. Trank Road, Feni
7 Khulna Jalil Tower 3rd
floor, 77, Lower Jessor Road,
Khulna
8 Munshigonj 607, Razia Hamid Plaza 1st
floor
9 Lakshmipur Pouro Super Market 3rd
floor
10 Rajshahi CNB mor, kazihatta, Rajshahi
11 Barisal Ahsan Plaza 1st
floor Bottola
12 Tangail Habib Super Market 2nd
floor, Tangail
13 Sylhet Mannan Super Market 2nd
floor Sylhet
14 Natore Sadek Complex 2nd
floor, Natore
15 NOakhali Karimpur Road , Chowmunhony, Noakhali
16 Manikgonj 76/77, Syed Rafiq Sarkar, Manikgonj
17 Thakurgaon BangobandhuSarok
18 Jessore 43, M.K> Road, Jessor
19 Faridpur Shamsuddin Tower 5th
floor, Janata Bank Mor,
Faridpur
20 Chandpur 1300/1165 , Comilla Road, Biponibag , Chandpur
21 Cox’s Bazar Greenvalley Complex 3rd
floor,Mainsarok, Cox’s
Bazar

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2.7 Company Performance and Growth
Performance list of five years:
Details 2016 2015 2014 2013 2012
First Year Premium 64.87 78.31 89.96 111.17 125.93
Renewal Premium 386.19 339.21 327.13 300.84 266.79
Group Insurance
Premium
25.36 24.33 21.27 19.94 16.17
Health Insurance
Premium
16.06 9.31 14.42 10.68 5.23
Gross Premium 508.68 501.17 483.28 438.83 383.51
Investment Premium 232.76 211.29 300.79 181.90 127.64
Claims 284.29 229.67 220.95 204.22 243.40
Management expenses
*Commission 63.05 98.11 94.69 82.43 70.71
*Admin.Expenses 77.73 73.78 68.45 58.35 53.24
Assets 2771.73 2465.18 2158.87 1750.29 1469.60
Life Fund 2633.16 2328.20 2013.06 1613.59 1342.47
Claims to
Premium(%)
55.89 45.83 45.72 46.54 63.47
Management Exp.
To Premium(%)
27.68 34.30 33.76 32.08 32.32

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Graphical view of performance
Business Growth
201 2015 2014 2013 2012
Percentage % % % % %
Premium 24.12 25.50 15.82 26.10 16.24
Assets 41.61 38.46 30.34 34.85 20.48
Life fund 46.14 41.35 32.38 35.12 20.99

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2.8 Challenges
1. [LOW PER CAPITA INCOME] Poor economic condition is considered to be the
main reason for poor life insurance penetration in Bangladesh. The country has a very
low per capita income and over 50% of our total population lives below the poverty line.
Inability to save or negligible savings by a vast majority of population kept them away
from the horizon of life insurance.
2. [POOR KNOWLEDGE OF AGENTS] The marketing of insurance is greatly
hampered in the remote village of Bangladesh where the agents are appointed from
respected locality. This is because; educated young people are seemed to be reluctant
to become insurance agents. Therefore, persons finding no job or persons having lesser
knowledge become insurance agents whom cannot acquaint themselves fully with the
whereabouts of insurance. Such agents cannot play efficient role in convincing a
prospective policyholder.
3. [ILLETERACY] Mass illiteracy is another factor that adversely affects the marketing
of insurance. About 70% of the population is floating in the sea of ignorance. Illiteracy
leads one to think that the insurance is deception; it is no value in life. They cannot think
rationality because they do not know what is insurance and what its importance as
security for future.
4. [RELIGIOUS SUPERSTITION] Religious attitude of the people also stands against
efficient insurance. The religious people believe that the future is uncertain, it is in the
hand of Allah and they do not think it necessary to buy life insurance policy for them.
5. [LOW AWARENESS] Insurance awareness is poor. Agents are not skilled enough.
These agents cannot perform their job properly to make the people aware of life
insurance.
6. [LOW SAVINGS] People of Bangladesh have a very small saving potentially and
thus have less or no disposable income. Almost the whole of the income is exhausted in
the process of maintaining the day-to-day life. Thus they are left with little amount,
which may not deemed to sufficient for the payment of premiums. This factor
discourages many to buy life insurance policy.

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2.9 Future regulation or plans may contain the following
(a) Insurance companies should publicly disclose appropriate qualitative and
quantitative information about risk exposures and the components that make up their
capital.
(b) Insurance companies ought to formulate and submit a methodology of effective
internal control system.
(c) Insurance companies should adopt a comprehensive and appropriate risk
management system, supported by a comprehensive monitoring and internal control
system.
(d) Required minimum capital of an insurer should be reviewed on a regular basis and
be enhanced gradually. Initial paid up capital may be enhanced to make it at par with
the neighboring countries.
(e) Prudent accounting standards for life, non-life and tactful companies have to be set
as the basis of valuation of assets, liabilities and off balance sheet exposures.
(f) Insurance companies should calculate technical provisions in a reliable and objective
manner as prescribed by the regulator.

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CHAPTER: 3
INSURANCE POLICIES & CONDITIONS
NAME: MUNMUN AKTER MUKTA
ID: 362

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3.1 Insurance Policies
Meghna Life Insurance Company introduce innovative and attractive policies with a view
to attract different class of people of the country. Over time they have been trying to
bring the insurance service to the doorstep of everyone. At present Meghna Life
Insurance Company is offering the following policies in other 5(five) different categories.
1. EKOK BIMA (Ordinary Life Insurance)
2. ISLAMI BIMA TAKAFUL (Islami Shariah Based Ordinary Life Insurance)
3. LOKO BIMA (Micro Life Insurance)
4. GROUP BIMA (Group Life Insurance).
5. ISLAMI KHUDRA
They are planning to introduce more different types of Life Insurance products very
soon.
EKOK BIMA:
Meghna Life offers a wide variety of ordinary life product/plans ranging from the most
common endowment type to more modern and sophisticated plans like endowment with
open term, pension plan, child protection plan, etc. and the aim of increasing pension,
increasing protection with provision for premium refund etc. The plans have been
designed keeping in view the diverse and multifaceted needs of the insuring public
belonging to different strata of the Society.
The followings are the Plans of Ordinary Life: (EKOK BIMA)
SI. Scheme
1. Endowment Insurance Plan – with Profits
2. 3 (three) Payment Insurance Plan – with Profits
3. Biennial Endowment Insurance – with Profits
4. Child Protection Endowment Insurance – with Profits
5. Insurance Cum Pension Plan – without Profits
6. Single Premium Guaranteed Benefit Plan – without Profits

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GROUP BIMA:
This scheme has been designed to make the officials and employees of Meghna Life
Insurance Co. Ltd. free from tension and financial hardship. With a very small premium,
very large amount of Sum-assured may be taken with regard to the risk of accident and
premature death. The arrangement of Group Insurance may be made if at least 10
members are there. In case of group term Insurance there may be 5 members.
Premium normally be paid on annual basis. The premium of this insurance may be paid
fully or partially by the employees and the employers.
LOKO BIMA :
Project was emerged on 13th June 1998. The aim and object of Loko Bima Project is to
arouse 90%. People of the country towards savings and to make them conscious and
self-reliant through Insurance. This project plays a very important role in solving social
problems of a large number of people by reduction of unemployment, population
control, development of cottage Industry, rural development so to say social
backwardness etc.
The following are the plans of ( LOKO BIMA)
SI Schemes
1. Meghna deposit Premium scheme – with Profits.
2. Single Premium Insurance – with Profits.
3. Endowment Insurance plan – with Profits.
ISLAMI BIMA:
The aim and object of Islami Bima (Takaful) is to provide more financial security of the
mass people of this country through this project. This project was introduced to turn Life
Insurance into a profitable savings arrangement through payment by instalments on the
basis of Islami Shariah and transparent and impeccable servicing.

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The followings are the Plans of ISLAMI BIMA(Takaful)
Sl. Schemes
1. Islamic Endowment Insurance Plan (Takaful) – with Profit
2. Islami Takaful 3 (three) Payment Insurance Plan – with Profits
3. Islami Bima (Takaful) Biennial Endowment Insurance Plan – with Profits
4. Islami Bima (Takaful) Child Protection Endowment Insurance Plan – with Profits
5. Islami Bima (Takaful) Insurance-Cum Pension Plan – without Profits
6. Islami Bima (Takaful) Single Premium Guaranteed Benefit Plan – without Profit
7. Islami Bima (Takaful) Education Expense Insurance Plan – with Profits
The project is conformed to a Shariah Council comprising 15 (Fifteen) members.
ISLAMI KHUDRA BIMA(Takaful):
The object of Islami Khudra Bima (Takaful) is to create habit of savings for the low
income group of people of Bangladesh, ensure profit and savings through modern
Insurance facilities and to introduce interest free Islami Bima.
These are the following plans-
Sl. Schemes
1. Endowment Insurance – with Profits
2. Child Protection Endowment Insurance – with Profits.
3. Single Premium Guaranteed Insurance – with Profits.
4. Islami Khudra DPS – with Profits.

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Supplementary Hospitalization Insurance Benefit:
Those who are within the age of 18 to 55 years, they take this Insurance with the
principal policy.
Advantages available in the Hospital-
 Staying in the Private room.
 Doctor’s Consultation Fees.
 Diagnosis expenses.
 Surgical Operation expenses.
 Medicine.
 Relevant Services Expenses.
3.2 Policy Condition
This advantage may be taken for wife and children of the policyholder:
 Any medical facility is available at home and abroad.
 Facilities of any Govt. Hospital or any other Private Hospital with 50 beds may be
available.
 Medical treatment expenses in any extraneous hospitalization will be borne in
Bangladeshi Currency.
 Consultation of Doctors may be taken with one’s own choice.
 Rebate of Tax is available.
Rules of payment of medical bill of the Hospital:
The Company will directly make payment of the Hospital bills subject to admission in the
Hospital approved by the company.
Re-imbursement: If the policyholder himself bears expenses on approved treatment
from the Hospital which has no contract with the company, in that case the company will
reimburse Hospital bills. But in these cases all the vouchers and papers shall be

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deposited within 30 days after release from Hospital and the company will arrange
reimbursement of those after due scrutiny.
Supplementary Dread Disease Benefit (DDB 50%, 25%)
Disease and old age complicacy is indissolubly linked with human lives. Men can, at
anytime be attacked with serious disease and they may not be capable to have proper
treatment immediately. In this connection, Meghna Life can provide money for treatment
of such fatal diseases by DDB. Whatever Sum-assured may be, the supplementary
Insurance cannot exceed 10 lac as facility.
If the policyholder is attacked with any of the following disease, 25% of the Sum-
assured be paid immediately:
 Heart attack
 Stroke
 Coronary Artinary Surgery
 Kidney Failure
 Multiple Sclerosis
 Paralysis.
 Supplementary Accidental Death Benefit (ADB).
This supplementary Insurance may be taken adjoining the Endowment Assurance,
Whole Life Assurance, and Term Assurance, Group Insurance or pension scheme. ADB
is normally given as supplementary cover with the Principal Insurance policy.
The advantages of taking ADB as supplementary cover with any Life Insurance policy is
that if any policyholder dies due to accident the nominee of the insured will be provided
with an amount equivalent to the Sum-assured within 90 days. The rate of premium is
low in this Insurance as a result the Insured can take this policy as supplementary
Insurance on nominal condition.
Supplementary Permanent Disability and Accident Benefit (PDAB)
PDAB policy can be taken for death or disability by physical hurt due to accident.

Page no.39
In case of death the nominee of the Insured will get an additional amount equivalent to
principal Sum-assured. An amount equivalent to the Sum-assured is also paid to the
nominee of the
Policyholder instantly if both hands or both legs or both the eyes or one hand and one
leg are lost.
In case of fully and permanent disability, the policyholder will be given 10% of the
principal Sum-assured for next 10 years since the happening of accident as yearly
allowance.
In case of one leg or one hand and an eye are lost, the policyholder will be given 50% of
the Sum-assured instantly.
At the maturity, the full Sum-assured is paid.
How to Claim Settlement:
Notice of death:The beneficiary of the policy must send a notice death of insured to the
Meghna life insurance.The death date,the cause of death,& policy number must e
mention.
Death Certificate: On receiving the notice of death,the insurance company will send a
claim form.The claimant should fill the form carefully & then submit it.The following
should be attached-
.Death certificate
.Policy report in case of unnatural death.
.Original policy
.Identity certificate
Proof of Life: In case the policy is not nominated in the name of claimant, he will have to
obtain a certificate of title property from a court of law.
Proof of Age: In case of term life and other age life insurance,the insured to prove his
age.Also he needs to provide medical check certificate.
Payment: When all legal formalities are completed,Meghna Life Insurance will send the
cheque to the claimant through the registered post.

Page no.40
3.3 Content of Agreement
Offer and Acceptance: In insurance publications of prospectus,the canvassing of the
agents is the invention to offer.If the offer or proposal agreed by other party then it the
acceptance.Meghna Life Insurance have over 200 agents who work in the field to offer
for life insurance policy .Sometime insured also offer for taking insurance policy.
Consideration: In case of Life Insurance policy,premium is the consideration for insurer
& safety for insured or his family member is tha consideration.Consideration must have
legality
Competent to Make Contract: Every person is competent to contract-
A. Age of majority
B. Sound mind
Free Consent: Both the insured and insurer entering into the contract should enter into it
by free consent.
Legal Objective: The object of the any insurance contract should be lawful.Without
lawful objective the contract will be void.

Page no.41
CHAPTER: 4
RISK ISSUED OF MEGHNA LIFE INSURANCE CO.
LTD.
NAME: MUNMUN AKTER MUKTA.
ID: 362

Page no.42
4.1 Definition of Risk
Risk implies future uncertainty about deviation from expected earnings or expected
outcome. Risk measures the uncertainty that an investor is willing to take to realize a
gain from an investment. An entity which provides insurance is known as an insurer,
insurance company, or insurance carrier. A person or entity who buys insurance is
known as an insured or policyholder.
While the policyholder is looking to limit the risk to his finances, property or loved ones,
the insurance company is betting against the risk. In fact, there are several types of risk
which different types of insurance companies deal with.
4.2 Types of Risk
There are three types of risk. They are as follow:
1. Pure Risk
2. Personal Risk
3. Fundamental Risk
Pure Risk:
When the risk is either all or none, it is called a pure or static risk. Pure risks are straight
bets, and most insurance companies deal in these kinds of bets. This is because there
are only two possible outcomes for the risk of insuring the person or property: either the
risk will pay off, or it won't. This design is obviously at work in policies, such as life or
flood insurance. These policies only pay off in the event of total loss of the insured item.
The benefit of pure risk policies to the policyholder is a potentially large payoff in the
event of a catastrophe; the benefit to the insurance company is the likelihood that the
policy will remain active, and premiums will continue to be paid.

Page no.43
Personal Risk:
When an individual is personally affected by the risk involved, this is known as personal
risk. Personal risk is the basis behind a wide variety of insurance types, including
unemployment, health, homeowner's and renter's insurance. This is also where
policyholders find the most ambiguity in their policies. Losses in a personal risk policy
do not have to be total; and because the chances of at least a partial payout of the
policy are good, many insurance companies look to specify the circumstances under
which a loss is covered by the policy. For example, a health insurance policy may cover
cancer treatment but only if that treatment falls within certain guidelines.
Fundamental Risk:
Fundamental risk is one that involves the entire community. These types of risk include
high inflation, stock market crashes, high instances of unemployment and widespread
natural disasters. Insurance companies occasionally find themselves wrapped up in
these types of fundamental risks (e.g., the homeowner's insurance companies were
entangled in debts to homeowners from hurricane Katrina for years), but most
fundamental risks must be insured by government agencies. Stock market crashes and
bank runs are a good example of fundamental risks handled by government agencies,
such as the Federal Reserve Bank.
4.3 Risk Management Tools
Risk Management is the identification,assessment and prioritization of risks .Risk
management is the process of measuring or assessing risk and then developing
strategies to manage the risk.Some of the risk management tools which followed by
Meghna Life Insurance Company Ltd.Are given below:
1. Risk distribution: Meghna life insurance distribute the risk among the insurance
holder or policy holder to misnaming the risk. However, this not an effective way.
2. Risk Transfer: This refers to one person guaranteeing another against the risk of
loss.In case of huge amount of risk Meghna Life Insurance transfer risk to another party.
3. Risk control: To control the insurance risk Meghna Life Insurance has taken various
precautions to reduce the amount of loss.
4. Risk Retention: This refers,risk is retained and the loss that occurs in assumed. To
assumed implies that the object is taken on while retention implies that something is
kept.

Page no.44
4.4 Risk Management Process
Meghna Life Insurance Company Ltd follow 5 steps in the management process:
1. Identification: Risk identification is the first and perhaps most difficult function that the
risk manager or administration must perform. Meghna Life Insurance use different types
of technique use to identify the risks.
a. Source Analysis
b. Problem Analysis
c. Event Analysis
2. Measurement: After identification the next important steps the proper
measurement of the losses associated with these exposures. This measurement
includes a determination-@ the probability or chance that losses with occur.
A. The impact the losses would have upon the financial efforts of the firm or family,
should they occur
B. The ability to predict the losses that will actually occurred during the budget
period
3. Various Tools: Once the exposure has been identified and measured ,the tools
of risk management should be consider and a decision made with respect to the best
combination of tools that be used in attaching the problem.

Page no.45
The potential tools are:
1. Risk transfer
2. Risk avoidance
3. Risk retention
4. Elimination of risk
4. Implementation: After deciding among the alternative tools of risk treatment, Meghna
Life Insurance Company risk manager must implement the decision that made from
among the alternatives, if insurance is to be purchased.
5. Monitoring: After implementation the results of the decision made and implemented in
the first 4 steps must be mentioned to evaluate wisdom of those decisions and to
determine. Whether changing condition suggest different solution.
a. Monitoring and measuring extends to the evaluation of culture, performance, and
preparedness of the organization.
b. Evaluating the effectiveness of existing controls is to insure that there is
adequate evaluation of the business continuity planning and disaster recovery planning
arrangements in place.

Page no.46
CHAPTER: 5
INSURANCE PRICING, CLAIM SETTLEMENT,
INSURANCE MARKETING & REINSURANCE
NAME: HANIF NAHID (Leader)
ID: 365

Page no.47
5.1 Pricing Tools
Meghna Life Insurance Company Ltd. uses the following pricing tools:
1. Cost based pricing
2. Value based Pricing
3. Competition based pricing
4. Customer driven pricing
5. Break event analyzing
5.2 Pricing Process
To determine the price of the policies of Meghna Life Insurance Company Ltd.
follows a process. The process of determining the premium is discussed below:
Assessment
System
Natural
Premium Plan
Level Premium
Plan

Page no.48
1. Assessment System: This is a method under which the premium to be
paid against a policy is determined based on the policyholder’s death and
where there is no fixed amount of premium is known as Assessment
Premium.
Premium= Compensation payment/No. of policy-holders alive
2. Natural Premium System: Under this method premium is determined
based on the age of policy holder, the policy period and the sun assured at
the time of policy agreement.
Premium= Rate of mortality*Sum assured
3. Level Premium Plan: Where the policy-holder pays equal amount of
premium periodically to the insurer is known as Level Premium Plan.

Page no.49
5.3 Pricing Elements
Meghna Life Insurance Company Ltd. used various elements to determine the
price of their products(policies). The pricing elements of Meghna Life Insurance
Company Ltd. are given below:
Administration cost
Agents commission
Percentage of expected losses
Income of the insured
Age of the insurance policy
Present value of claim

Page no.50
5.4 Claim Settlement Procedure
The claim settlement procedure begins when an insured faces an unfortunate
incident that causes loss of property or goods. The claim settlement procedures
of Meghna Life Insurance Company Ltd. are given below:
1. Review the policy
2. Contact with
insurance company
3. Filling the claim form
4. Provide necessary
documents
5. Inspection of the
property
6. Assessment of the
loss
7. Payment process
8. Time line for
receiving payment

Page no.51
5.5 Insurance Marketing Techniques
Meghna Life Insurance Company Ltd. carries out some efficient marketing
techniques according to its act. The company offers various types of policies on
the basis of demands of people from different stage.
They are:
1. Connecting with customers
•By using Email
•Mobile SMS
•Video content
2. Advertising
3. Give offer for the new customer
4. Using social media
•Such as Facebook
•Youtube
•Google+

Page no.52
5.6 Reinsurance Management
Definition: Reinsurance also known as insurance for insurers or stop-loss
insurance, is the practice of insurers transferring portions of risk portfolios to
other parties by some form of agreement to reduce the likelihood of having to pay
a large obligation resulting from an insurance claim.
Benefits of reinsurance: By covering the insurer against accumulated individual
commitments, reinsurance gives the insurer more security for its equity and
solvency and more stable results when unusual and major events occur.
Reinsurance makes substantial liquid assets available for insurers in case of
exceptional losses.
Methods of reinsurance: There are two basic methods of reinsurance
management of Meghna Life Insurance Company:
1.
Facultative
Reinsurance 2.
Treaty Reinsurance

Page no.53
Types of reinsurance:
Functions of reinsurance:
1.
Proportional 2.
Non-proportional
Risk
transfer
Income
smoothing
Surplus
relief
Reinsurer
expertise

Page no.54
CHAPTER: 6
PERFORMANCE ANALYSIS
NAME: MD. PRINCE SARKER
ID: 375

Page no.55
6.1 Trend analysis
MEGHNA LIFE INSURANCE COMPANY LTD
Balance sheet
As of December, 2016
c a p i t a l & L i a b i l i t i e s A m o u n t
I s s u e d , s u b c r i b e d a n d p a i d u p s h a r e s 36,30,00 ,00 0
R e s e r v e f o r e x c e p t i o n a l l o s s e s 19,99,44 ,95 2
G e n e r a l r e s e r v e 7,03,50,00 0
P r o f i t l o s s a p p r o p r i a t i o n a c c o u n t b a l a n c e 23,53,70 ,86 0
B a l a n c e o f f u n d s a n d a c c o u n t s 5,52,14,48 8
P r e m i u m d e p o s i t s 10,85,554
E s t i m a t e d l i a b i l i t i e s 1,88,01,65 2
A m o u n t d u e 1,03,02,55 3
S u n d r y c r e d i t o r s 6,40,15,87 5
U n c l a i m e d d i v i d e n d s 53,94,889
t o t a l 1 , 0 2 ,3 4 , 80 , 8 2 3
D e b t o r s 13233027
C a s h 484266293
P r o p e r t y , P l a n t & E q u i p m e n t 16367559
S t a t i o n a r y & F o r m s 820460
T o t a l 1,02,34,80,823
P r o p e r t y & A s s e t s A m o u n t
I n v e s t m e n t i n T r e a s u r y B o n d 4 5 0 0 0 0 0
I n v e s t m e n t i n S h a r e 2 1 4 1 0 9 2 5
I n v e s t m e n t i n A s s o c i a t e s 3 6 9 0 0 1 5 6 8
D e f e r r e d t a x A s s e t s 9 7 9 8 0 9 8
O u t s t a n d i n g p r e m i u m 3 7 4 2 5 3 7 6
A c c u r e d i n t e r e s t 2 6 6 7 3 1 2 4
A m o u n t d u e f r o m o t h e r C o m p a n i e s 3 9 9 2 4 3 9 3

Page no.56
Key operating and Financial data
of
MEGHNA Life insurance Company Ltd
Gross premium(Figure in millions)
Data presentation
2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6
Gross premium 2 0 8 . 0 1 2 2 1 . 6 8 2 5 5 . 4 1 2 9 5 . 1 6 2 7 1 . 7 3
Graphical Representation
Result Intepretion
In the aspect of non life insurance buisness gross premium means the premium
expected to be received over the life of the contracts from the insured. The gross
premium of meghna life insurance company ltd was increasing as of 2015. But it
decreased in 2016 to 271 million from 295 million last year. So the company needs to
recover financially.
208.01
221.68
255.41
295.16
271.73
0
50
100
150
200
250
300
350
2012 2013 2014 2015 2016
Gross premium
Series 1

Page no.57
Net Premium (Figure in millions):
Data presentation
Interpreatation
We get net premium by deducting the cost of reinsurance from gross premium. The net
premium was increasing till 2015.But in 2016 it suddenly decreased. This reduction in
net premium reduces the total revenue. So the company should try to increase their
sales.
Net Profit after Tax(Figures in millions)
2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6
Net profit after Tax 3 1 4 . 0 6 5 3 . 1 4 1 5 0 . 0 3 1 0 5 . 0 9 9 8 . 6 4
95.36
104.14
112.51
154.43
136.75
0
20
40
60
80
100
120
140
160
180
2012 2013 2014 2015 2016
Net Premium
Net Premium

Page no.58
Result interpreation
The net profit after tax shows what the company earned after all its expense charge
offs,depreciation and taxes have been substracted.We can see from the graph that the
net profit after tax was very variable for the last five years.It was very high during 314
million in 2012.But now in 2016 it is only 98.64 million taka.So the financial situation of
meghna life insurance Company Ltd in this aspect is not very strong.
Data Presentation
Net Operating Cash Flow(Figure in millions):
2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6
Net Operating Cash Flow 1 0 . 7 6 1 0 1 . 7 5 4 5 . 4 5 1 3 . 4 0 3 . 7 2
314.06
53.14
150.03
105.09
98.64
0
50
100
150
200
250
300
350
2012 2013 2014 2015 2016
Net profit after tax

Page no.59
Result interpretation
Net operating cash flow indicates whether a will be generate sufficient cash flow to
maintain and grow its operation and external activities. We can see that set operating
cash flow of Meghna Life Insurance Company Ltd is decreasing day by day after
2013.In 2016 it was only 3.72 million taka. If this situation continues the company will
not able to produce enough cash money to operate business’s the company should try
to generate more cash flow in future. Company.
Earning Per Share (Date Per Taka 10 Share):
2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6
E P S 8 . 6 5 1 . 4 6 4 . 1 3 3 . 1 8 2 . 7 2
10.76
101.75
45.45
13.4
3.720
20
40
60
80
100
120
2012 2013 2014 2015 2016
Net Operating Cash Flow
Net Operating…

Page no.60
Result interpretation
Earning per share serve as a messure of how much a company`s net incomecan be
allocated to each share of stock .Meghna life insurance companys EPS was
satisfactory in 2012.But since then its has started to decrease.The EPS was 2.72 taka
in per 10 taka share in 2016.They need to boost their EPS or else there can be a
drastic fall in their share price in future.
Data presentaion
Price Earning Ratio (data per taka 10 share)
2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6
Price earning ratio 2 0 . 2 8 1 0 2 . 7 4 4 3 . 0 0 2 0 . 6 6 1 6 . 9 1
Source:The 2016 annual report of Meghna Life insurance Company Ltd
8.65
1.46
4.13
3.18
2.72
0
1
2
3
4
5
6
7
8
9
10
2012 2013 2014 2015 2016
Earning per share
Earning per share

Page no.61
Result Interpretation
Price earning ratio is a valuation ratio of the companies current share price compared
to its per share earnings. The price earnings ratio was very high during 2013.But now
it is gradually decreasing every year. In 2016 it was 16.91 which is the lowest in the last
five years financial history. This situation will not attract any new investor for the
company.Moreover,if this situation continues the company will lose All its investors.
6.2 Cross Sectional analysis
We have selected some insurance companies to compare our condition. Those
companies are
1. Continental insurance limited.
2. Prime Insurances Company limited.
3. United insurances limited.
So we are going to analyze some specific things of the selected competitor and
compare them with ours. Those are paid up capital, gross premium, total assets, and
net profit after tax and EPS.
20.28
102.74
43
20.66
16.91
0
20
40
60
80
100
120
2012 2013 2014 2015 2016
Price earning ratio
Price earning ratio

Page no.62
Paid up capital
Graph paid up capital
Here we can see that the paid up capital of Meghna Life Insurance is quiet larger than
the competitors. It simply means that the company is of the largest companies in the
country and it is competent to compete any other companies in this sector.
The net profit after tax is not frustrating though Dhaka insurance limited raised 106.58
million net profit after tax with only 300 million paid up capital. So this should be
observed carefully by Meghna life Insurance Company Ltd
Meghna Continental United Prime
Paid up capital 363 313.4 300 294.4
0
100
200
300
400
Paid up Capital
Category 1 Category 2 Category 3 Category 4
Gross profit 98.64 48.46 106.58 72.47
0
20
40
60
80
100
120
AxisTitle
Net profit after Tax

Page no.63
Total assets
The total assets represent the inner and outer strength of the company.All the
competitors are fundamentally gigantic on the basis of total assets But be Meghna life
insurance is mightier.
EPS
The EPS earning per share of the companies are in a healthy condition as a whole.
Prime insurance seems to earn more than others on the basis of EPS.
well analysis the above found that meghna life insurance in healthy economic condition.
but there are scopes of improvement in dome sectors like profit making and EPS.Stops
should taken to boost those things as easy as possible.
Total assets 1023.48 746.034 361.97 920.7
0
500
1000
1500
AxisTitle
Total assets
2.72
1.41
3.5
2.96
0
1
2
3
4
EPS
Series 1

Page no.64
6.3 Common size Statement Analysis
T i t l e 2013 2 0 1 4 Change 2 0 1 5 Change 2 0 1 6 Change
Current Assets
C a s h
Balancewithotherbankandfinancialinstitution
Moneyatcallandshortnoticeinvestments
Loans and Advances
7.82%
.59%
11.20%
77.63%
7 . 2 4 %
1 . 5 4 %
1 4 . 6 1 %
7 3 . 7 5 %
-
0.58%
+
9 5 %
+
3.41%
-
3.88%
5 . 5 9 %
1 . 0 4 %
12.55%
76.18%
-
1 . 6 5 %
- 5 0 %
-
2 . 0 6 %
+
2 . 4 3 %
5 . 9 6 %
5 . 5 2 %
21.15%
66.64%
+
0 . 3 7 %
+
4 . 4 8 %
+
8 . 6 0 %
-
9 . 5 4 %
Fixed Assets
O t h e r s
1.22%
1.53%
1 . 5 6 %
2 . 0 6 %
+0.34%
+
1 . 9 0 %
2 . 7 4 %
+ 0 . 3 %
+
2 . 3 3 %
1 . 3 8 %
+0.43%
-
T i t l e 2 0 1 2 2 0 1 3 change 2 0 1 4 change 2 0 1 5 change 2 0 1 6 change
Share holderequity 6.20% 6.49% + 2 9 % 8.25% +1.76% 8.29% +0.04% 8 . 5 6 % +0.27%
M e g h n a L i f e i n s u r a n c e a n d C o m p a n y L t d
Common size balancesheet analysis 2012-2016
Commnsiz e shar e holder equit y

Page no.65
6.4 Scenario Analysis
 The scenario analysis meghna life insurance is presented below:
 SMES have been a important source of premium.
 Financial position will became than the past.
 Underwriting profit is increasing every year.
 A good reserved account will be possible to preserve in the future.
 Gross premium may decrease over time.
 The case inflow may get lower in the coming days.
6.5 Sensitivity Analysis
Sensitivity analysis of meghna life insurance and company ltd given
below:
Competitive strength measure Importance
w e i g h t R a t i n g
W ei ght e d s c o r e
P r i c i n g . 2 0 9 1 . 8 0
Product variety . 1 0 6 . 6 0
Fi nanc i al s t rengt h . 2 0 7 1 . 4 0

Page no.66
CHAPTER: 7
COMPANY ANALYSIS
NAME: SOHELI PERVIN SHANTA.
ID: 372

Page no.67
7.1 SWOT Analysis
SWOT analysis is a process that identifies an organization's strengths, weaknesses,
opportunities and threats.
Meghna Life insurance company has comparatively more external and internal strength
than its weakness. Among the existing insurance company in the market it has more
opportunities. It also faces some threats from its competitor’s insurance company.
Strength:
Strength describes what an organization excels at and separates it from the
competition.
It is financial established company.
It has good reputation in the market.

Page no.68
It has skilled manpower for performing its activities.
It has long and efficient management cycle.
The company has skilled and long term experienced management system.
Weakness:
Weaknesses stop an organization from performing at its optimum level.
At this stage this company has no major weakness. Sometimes it faces temporary
problem. During new investment of the company sometimes occur conflict among the
shareholders and company authority. Sometimes it fails to right clients.
Opportunities:
Opportunities refer to favorable external factors that an organization can use to give it
a competitive advantage.
As it has high capital it can easily invest for new sector. It can take the advantage of
competitor’s weakness. Now a day people are interested about life insurance Company.
It can expand its operation from home to foreign country.
It can influence people to take its insurance policy.
Threats:
Threats refer to factors that have the potential to harm an organization.
There is a huge prospect of the life insurance business in Bangladesh. Day by day
various insurance companies are established so competition is tough. The rules and
regulations of insurance is complex in Bangladesh. The strike of political parties in
Bangladesh is a big threat. Destroy of our national economy.

Page no.69
7.2 Situation Analysis
Situation analysis refers to a collection of methods that managers use to analyze an
organization's internal and external environment to understand the organization's
capabilities, customers, and business environment.
Potential Customers Growth 2012 2013 2014 2015 2016
CAGR
Senior Citizens 7% 8,734 9,345 9,999 10,699 11,448
7.00%
Lower income 8% 8,044 8,688 9,383 10,134 10,945
8.00%
Families
Small Business 8% 1,098 1,186 1,281 1,383 1,494
8.00%
Total 7.52% 17,876 19,219 20,663 22,216 23,887
7.52%

Page no.70
Senior citizens
Lower income families
Small business
Pie Chart- Data drive
64%25%
11%
Sales
1st Qtr
2nd Qtr
3rd Qtr

Page no.71
Chapter: 8
FINDINGS, RECOMDATIONS &CONCLUSION
NAME: ARIFA SULTANA.
ID: 374

Page no.72
8.1 Findings from performance analysis
Meghna life insurance company limited is one of the upgrading insurance companies of
Bangladesh. The financial analysis of the company shows that it is a very well stable
company in the insurance industry of Bangladesh.
 Education levels are post graduate.
 50.0% respondents agree with the way service provided by this branch is effective
& efficient.
 40.0% respondents agree with management always tries to provide prompt
service in the foreign exchange department.
 Majority are male in life insurance.
 Increasing their branch & office all over the country.
 Trying to build up good relation with the customer all over the country.
8.2 Alternative strategies recommendations
People have way but to come to the insurance company for the risk minimization of
individuals life and assets of the operations and way of holding policies need to be
much sharpend. The ways can be recommended as:
 Interpersonal relationship needs to be built among the employees and superiors
in the top level of management.
 Improve customer service and consequently satisfactory operational results.
 Making the planning process more clear of the strategies, goal, action and
operational plans in Meghna Life Insurance Company Limited.
 Claim settlement at quickest possible time.
 It can reduce its policy should be reduced.
 It should introduce itself in the social work field in Bangladesh.
 Train employees to attain clients especially in the rural areas.
 There must be scope for further development . so, there must be improving the
customer relationship.
 The level of premium should be reduced.

Page no.73
8.3 Concluding remarks
Human resource management draws on many sources for its theories and practices.
Sociologists, psychologists and management theorists, especially, have contributed a
constant stream of new and reworked ideas. The insurance business is now more
popular in Bangladesh since its developing day by day and people are becoming more
aware of insurance policy.
Insurance policy gives various types of protection in trade and commerce as well as
public property. At the very outset, it is to be mentioned that despite keen and unhealthy
competition amongst 44 general insurance companies in the limited insurance market
as well as worldwide economic recession including Bangladesh, the selected for our
analysis purpose has been able to maintain its policy of study progress during the year
2003. In 2003, gross premium income has increased by 8.7% over the previous year
and gross claim for the year have decreased by 3.4%. increase in net premium income
stands at 5.28% only because of more reinsurance cession and consequent increase in
reinsurance premium.
Insurance companies are therefore unique as far as their recognition of income;
expenses, liabilities and profits are concerned. MEGHNA LIFE INSURANCE’S
overseas mediclaim policy became popular for protecting accident in aboard. Through
the market is very much competitive Meghna Life Insurance Company Ltd. Doing well
and hold the leadership.

Page no.74
BIBLIOGRAPHY
Following are references from which I took assistance in preparation of this report on
Meghna Life Insurance Company.
Book:
 Financial Management ( THEORY & PRACTICE)
By: F. Brigham
 Managerial finance
By: Weston.J.Fred
 Risk and Insurance
By: Williams

Page no.75
Newspaper:
 The Daily Express.
 The News Today.
 The Bangladesh Today.
 The New Nation.
Annual reports and manuals:
 Annual report of Pragoti life insurance company limited
 Annual report of Jamuna life insuranc company limited.
 Annual report of Metlife insurance company limited.
Online sources:
(www.meghnalife.com)
(www.facebook.com/meghnalife)
(www.kse.com)
(www.businessplus.com)
(www.wrightreport.com)
(www.brecorder.com)
(www.cii.co.uk)
(www.lloyds.com)

Meghna Life Insurance Report: Company Overview, Policies, Performance Analysis

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