Insurance is deemed as an unsought product which consumers actively do not show interest in buying. Either they are forced to buy the product (in case of vehicles insurance) or they are to be educated about the importance and advantages of buying it. Bangladesh, being a third world country, has a very low rate of insurance due to being unaware about the importance of it. Bangladesh is the most under insured country in the non-life insurance category, standing to lose as much as 0.8 percent of GDP from natural disasters a year, said Lloyd's of London, one of the leading insurance market places in the world. To shed a bit more light into it, Bangladesh had the largest insurance gap among the 43 countries covered in the report standing at 5.5 Billion USD or in other words, only 2.1% of the total GDP. Per head insurance premium is only $8 which just states that it is safe to say that maximum people in Bangladesh don’t possess any kind of insurance. So, the operation of insurance companies in Bangladesh is a bit critical and tougher because they also have to make people aware about insurance.

1. 1

2. 2
Institute of Business Administration
Jahangirnagar University
Assignment On:
Performance evaluation of life insurance companies of Bangladesh
Submitted to:
Palash Saha
Assistant Professor
Course Instructor
Risk management & Insurance (FIN 410)
Submitted by:
Zareen Nowreen Sharif (1911)
Shonom Akter (1933)
Myenuddin Kabir Shakil (1947)
Fara Ul Fath (2215)
Date of submission: 9 April, 2020

3. 3
Letter of transmittal
April 9th
, 2020
Palash Saha
Assistant Professor
Institute of Business Administration
Jahangirnagar University
Dear Mr. Palash,
We are the students of your Risk management & Insurance course and as a part of your course, we
were assigned to write a report on a topic provided by you. The topic chosen for our group is
‘Performance evaluation of life insurance companies of Bangladesh’. I along with my group
members have successfully completed the report and humbly request you with due respect to go
through it.
Although we are in a learning curve, this report has enabled us to gain valuable insight about
different motivational approaches in different companies. It was a stimulating opportunity and a
valuable experience for us. Thank you for your supportive consideration for formulating this bright
idea. Without your inspiration this report would have been an incomplete one. It will be kind of
you if you accept our report on the previously mentioned topic. I hope you will be pleased and find
this report satisfactory.
Sincerely yours,
Zareen Nowreen Sharif
Shonom Akter
Myenuddin Kabir Shakil
Fara Ul Fath

4. 4
Declaration of originality
We hereby declare that we wrote and composed the report about the topic ‘Performance evaluation
of life insurance companies of Bangladesh’ independently as team. We did not use any other
sources, figures, be they printed sources or sources off the internet that is not referenced in the
report. This includes possible figures or tables. We marked all passages and sentences in our work
that were taken from other sources clearly as such and named the exact source. We also declare
that – to our best knowledge – this work has never before been submitted by us or anybody else at
this or any other university. We are aware that a noncompliance with this declaration may result
in a grading of our work as “insufficient”. We also know that a copyright violation as well as an
attempted fraud may be prosecuted and a deliberate infringement on any laws concerning cheating
constitutes an administrative offence, for which a penalty can be inflicted.

5. 5
Acknowledgement
The process of making the report for the course ‘Risk management & Insurance’ was a great
chance for learning and academic development. Therefore, we consider ourselves as very lucky
individual as we were provided with an opportunity to be a part of it.
First of all thanks to the Almighty for all the graces and assistances. Apart from the efforts of my
team, the success of any work depends largely on the guidelines of many others. I would like to
express my gratitude towards our group members. I appreciate their kind co-operation, which
helped us in completion of this report. We are also thankful for everyone’s aspiring guidance,
invaluably constructive criticism and friendly advice during the report work. Furthermore, I am
sincerely indebted to them for sharing their truthful and illuminating views on a number of issues
related to the report.
Specially, we would like to show our greatest appreciation to course instructor Palash Saha sir who
in spite of being extraordinarily busy with his duties and classes, took time out to hear, guide and
keep us on the correct path and allowing us to carry out our report in a very smooth manner. We
cannot say thank you enough for his tremendous support and help. Mentoring us from all the
aspects needed was motivating.
We perceive this opportunity as a big milestone in our academic development. We strive to use
gained skills and knowledge in the best possible way, and we will continue to work on their
improvement, in order to attain desired academic objectives. Hope to continue the hard work in
the future.
Thanking you,
On behalf of the group,
Myenuddin Kabir Shakil
ID: 1947

6. 6
Executive Summary
After the independence of Bangladesh, insurance sector in Bangladesh emerged with two
nationalized insurance companies including 1 life and 1 general; along with 1 foreign insurance
company. Private insurance companies started to enter the market in mid 80s and the sector started
to expansion. As of now, there are 62 companies operating under Insurance Act 2010. 18 of them
are life insurance companies including 1 state owned company (Jiban Bima Corporation) and 1
foreign company ("Financial System: Insurance", 2020). Among them, 11 are listed in Dhaka
Stock Exchange and have wide range of information available for analysis. We evaluated these
companies based on their performance in recent years. We used different ratios and ranking factors
using their information available from annual report.

7. 7
Table of Contents
Letter of transmittal......................................................................................................................... 3
Declaration of originality................................................................................................................ 4
Acknowledgement .......................................................................................................................... 5
Executive Summary........................................................................................................................ 6
Introduction..................................................................................................................................... 8
Objective......................................................................................................................................... 8
Scope of the Report......................................................................................................................... 8
Methodology................................................................................................................................... 9
Limitations...................................................................................................................................... 9
Key Indicators............................................................................................................................... 10
ROE (Return on Equity) ........................................................................................................... 10
ROA (Return on Assets) ........................................................................................................... 11
Quick Ratio............................................................................................................................... 11
Fixed Asset Turnover Ratio...................................................................................................... 12
Debt to Equity Ratio ................................................................................................................. 13
EPS............................................................................................................................................ 14
Share Price ................................................................................................................................ 15
Price to Earnings Ratio ............................................................................................................. 16
Dividend Yield.......................................................................................................................... 17
Market Capitalization................................................................................................................ 18
Conclusion & Findings ................................................................................................................. 20
References..................................................................................................................................... 21

8. 8
Introduction
Insurance is deemed as an unsought product which consumers actively do not show interest in
buying (Rejda & McNamara, 2017). Either they are forced to buy the product (in case of vehicles
insurance) or they are to be educated about the importance and advantages of buying it.
Bangladesh, being a third world country, has a very low rate of insurance due to being unaware
about the importance of it. Bangladesh is the most underinsured country in the non-life insurance
category, standing to lose as much as 0.8 percent of GDP from natural disasters a year, said Lloyd's
of London, one of the leading insurance markertplaces in the world (Alo, 2020). To shed a bit
more light into it, Bangladesh had the largest insurance gap amongst the 43 countries covered in
the report standing at 5.5 Billion USD or in other words, only 2.1% of the total GDP. Per head
insurance premium is only $8 which just states that it is safe to say that maximum people in
Bangladesh don’t possess any kind of insurance. So, the operation of insurance companies in
Bangladesh is a bit critical and tougher because they also have to make people aware about
insurance.
Objective
The broad purpose of this report is to understand the operation of different life insurance
companies operating in Bangladesh. Some specific objectives we wish to fulfill are understanding
of-
1. Economic condition of the life insurance companies
2. Market competition between the companies
3. Performance evaluation based on the information
Scope of the Report
The report will include analysis of financial and economic condition of life insurance companies
in Bangladesh. After going through the report, a reader will be able to differentiate between the
way different companies work and their various aspects. S/he will also be able to rank the positions
and tell where the companies stand in the competitive market.

9. 9
Methodology
The report is mostly made based on the information received from annual report of respective
companies. We have collected the data and gathered them together for the comparison. We have
used different key financial indicators like ROE, ROA, EPS etc. These financial indicators give us
the clear view about the company.
Limitations
While preparing this report, we faced some limitations and restraints. These will act as a hurdle
for us during this time. The restraints are mostly the lack of information regarding market and
the companies.
1. Some companies don’t disclose their information publicly
2. Information regarding the whole scenario of Bangladesh like user number is not widely
available
3. Some institutions lack recent updates regarding their condition so we needed to
consider backdated information for comparison

10. 10
Key Indicators
ROE (Return on Equity)
This indicates the financial performance by measuring net income in terms of shareholders’
equity. As equity refers to asset minus debt, ROE is also considered as the return on net assets.
This is a primary indicator of how effectively the management is using its assets to make profits
(Besley & Brigham, 2008). The higher the percentage of company’s ROE is, the better the
company’s asset management is.
ROE=
Net Income
Average Shareholders′ 𝐸𝑞𝑢𝑖𝑡𝑦
Popular and Pragati life insurance has the highest return on equity in the recent years with 68.2%
and 68.1% respectively. Progressive and Eastern has a very poor rate of return on equity with
24.7% and 26.6% respectively. (See Appendix Table-1)
0.0000
0.2000
0.4000
0.6000
0.8000
1.0000
1.2000
ROE
2018 2017 2016 2015 2014 2014

11. 11
ROA (Return on Assets)
This is just another financial indicator like ROE, but it takes the total asset of a company into
perspective. ROA takes debt of a company into account unlike ROE. The higher the ROA, the
better.
ROA=
Net Income
Total Assets
In terms of return on assets, Pragati Life Insurance provides with the highest return on assets with
46.4% in the latest year, 2018. They have a consistent trend in all the five years. Popular Life
Insurance comes second while Sandhani Life Insurance being the last in this factor. (See Appendix
Table-2)
Quick Ratio
Quick ratio indicates any company’s liquidity position in short term scenario. It provides a view
on company’s ability of how quickly it can meet its short-term obligations with the help of its
most liquid assets (Reilly, Brown & Leeds, n.d.). If the company’s quick ratio is more than 1, it
means that the company can pay its current liabilities without getting any outside financing or
selling its inventory. The higher the ratio is, the better is the company’s financial stability; the
0.0000
0.1000
0.2000
0.3000
0.4000
0.5000
0.6000
National
Life
Insurance
Co. Ltd.
Delta Life
Insurance
Co Ltd.
Delta Life
Insurance
Co Ltd.
Guardian
Life
Insurance
Ltd.
Meghna
Life
Insurance
Co. Ltd.
Popular
Life
Insurance
Pragati Life
Insurance
Ltd
Prime
Islami Life
Insurance
Ltd
Progressive
Life
Insurance
Co. Ltd.
Sandhani
Life
Insurance
ROA
2018 2017 2016 2015 2014

12. 12
lower it gets, the worse it gets for the company in terms of paying debts. It is also known as acid
test ratio.
Quick Ratio=
Cash & equivalents + marketable securities + accounts receivable
Current liabilities
Popular life Insurance has the highest liquidity ratio with 10.3:1 meaning they will be easily able
to repay their current debts with current assets. Whereas Prime Life Insurance will need external
financing or asset selling due to their current ratio being 0.68:1. (See Appendix Table-3)
Fixed Asset Turnover Ratio
This ratio indicates the operating efficiency of a certain company. It compares net sales to fixed
assets and measures a company’s ability to generate net sales from its fixed-asset investments,
namely property, plant, and equipment (PPE). The higher the ratio is, the better the management
is in using its fixed assets.
FAT=
Net Sales
Average Fixed Assets

13. 13
Delta has the highest fixed asset turnover ratio with 5.9:1. National and Progressive are also doing
really well with ratio of 4.5:1 and 4.4:1. Eastern has the lowest FAT ratio with less than 1 being
.94:1. (See Appendix Table-4)
Debt to Equity Ratio
This ratio is used to indicate financial leverage of a company. It measures the level to which a
company finances its operations through debts against its own funds (Mishkin, 2010). It also
reflects the capacity of a company to pay its debt using its shareholders’ equity in case of a business
downturn. The lesser the ratio, the more leverage the company holds.
Debt/Equity=
Total Liabilities
Total shareholders’ equity
0.000
1.000
2.000
3.000
4.000
5.000
6.000
7.000
National
Life
Insurance
Co. Ltd.
Delta Life
Insurance
Co Ltd.
Eastern
Insurance
Co. Ltd.
Meghna
Life
Insurance
Co. Ltd.
Popular
Life
Insurance
Pragati Life
Insurance
Ltd
Prime
Islami Life
Insurance
Ltd
Progressive
Life
Insurance
Co. Ltd.
Sandhani
Life
Insurance
The fixed asset turnover ratio
2018 2017 2016 2015 2014 2014 2014

14. 14
Companies like Delta, Popular and Pragati have really debt to equity ratio which indicates their
financial leverage and capacity to pay their debts easily. Whereas companies like Eastern and
National Life Insurance will have tough time repaying their debts. (See Appendix Table-5)
EPS
This is the single most important factor while judging a company in terms of profitability. It
indicates how much profit a company makes against each outstanding share. It is widely used
metric due to its ease of understanding. A higher earning per share refers that investors will receive
more return against their investment.
EPS=
Net Income − Preferred Dividends
End−of−period Common Shares Outstanding
0.000
0.050
0.100
0.150
0.200
0.250
0.300
National
Life
Insurance
Co. Ltd.
Delta Life
Insurance
Co Ltd.
Eastern
Insurance
Co. Ltd.
Guardian
Life
Insurance
Ltd.
Meghna
Life
Insurance
Co. Ltd.
Popular
Life
Insurance
Pragati Life
Insurance
Ltd
Prime
Islami Life
Insurance
Ltd
Progressive
Life
Insurance
Co. Ltd.
Sandhani
Life
Insurance
Debt-Equity ratio
2018 2017 2016 2015 2014 2014

15. 15
When it comes to earning per share Pragati Life Insurance and Meghna Life Insurance, both comes
close in the top. Popular is not lagging far behind them. Sandhani is providing with the lowest EPS
of 1.006 taka per share. (See Appendix Table-6)
Share Price
This is the market indicator of an individual company. In this case, price of all company is on the
basis of Dhaka Stock Exchange. The base price is 10 and it fluctuates from there based on the
performance of the company. If a company’s performance is good, the share prices just keeps
rising.
3.747
4.67
5.15
6.01
5.59
3.61 3.53 3.36
2.70 2.52
1.005
0.262 0.059
2.215
6.243
5.942
5.655
6.159
5.753
5.382 5.289
4.447
6.151
5.570
6.129 6.134
4.590
5.992
5.338
4.104
3.831
3.613 3.495
3.104
2.803 2.883 2.901 2.914 2.794
1.006
1.257
1.573
1.997 1.978
0
1
2
3
4
5
6
7
2018 2017 2016 2015 2014
EPS
National Life Insurance Co. Ltd. Delta Life Insurance Co Ltd. Eastern Insurance Co. Ltd.
Guardian Life Insurance Ltd. Meghna Life Insurance Co. Ltd. Popular Life Insurance
Pragati Life Insurance Ltd Prime Islami Life Insurance Ltd Progressive Life Insurance Co. Ltd.
Sandhani Life Insurance

16. 16
National Life Insurance is the king of the Insurance stock market with 148.2 Taka share price at
the latest year 2018. Delta, Popular and Pragati is also doing really well in the market with their
stock price hovering around the hundred mark in Dhaka Stock Exchange. But, Sandhani and
Eastern is struggling really to survive in the market with respective share price of 25.9 and 27
Taka. (See Appendix Table-7)
Price to Earnings Ratio
It is one of the most used valuation factor for a company. It is often used to compare between
companies that operates in the same industry. It is also used to judge a company against its own
previous historical data to compare if its doing better or worse than the previous year. This ratio
gives a reflective view of market price of the share against its earnings. A higher P/E ratio means
the company is doing better than it was doing previously or against the competitors.
P/E=
Market Value Per Share
EPS
0.000
50.000
100.000
150.000
200.000
250.000
National
Life
Insurance
Co. Ltd.
Delta Life
Insurance
Co Ltd.
Eastern
Insurance
Co. Ltd.
Meghna
Life
Insurance
Co. Ltd.
Popular
Life
Insurance
Pragati Life
Insurance
Ltd
Prime
Islami Life
Insurance
Ltd
Progressive
Life
Insurance
Co. Ltd.
Sandhani
Life
Insurance
Share Price
2018 2017 2016 2015 2014

17. 17
Delta Life Insurance has the highest P/E ratio with 29.303 winning the market while Eastern Life
Insurance has the lowest P/E ratio of 7.48. (See Appendix Table-8)
Dividend Yield
This gives a clear indication on how much return one is going to get at the fiscal year-end against
one’s investment. Dividend is the portion of the income of a company that is paid at the end of a
certain period to its stockholders; managed and decided by the company’s board of directors at the
annual general meeting.
Dividend Yield=
Annual Dividend
Share Price

18. 18
Eastern and Sandhani are providing the highest dividend yield to their customers with respective
6.44% and 6.43%. But companies like National and Delta aren’t really supporting their
stockholders well with a poor dividend yield ratio of 1.4% and 2.3%. (See Appendix Table-9)
Market Capitalization
It refers to the total market worth of a company in money terms. This is done by calculating the
total value of all the outstanding market shares.
Market Cap=Share Price*Number of Shares Outstanding
0.000 1.000 2.000 3.000 4.000 5.000 6.000 7.000 8.000 9.000
National Life Insurance Co. Ltd.
Delta Life Insurance Co Ltd.
Eastern Insurance Co. Ltd.
Meghna Life Insurance Co. Ltd.
Popular Life Insurance
Pragati Life Insurance Ltd
Prime Islami Life Insurance Ltd
Progressive Life Insurance Co. Ltd.
Sandhani Life Insurance
Dividend Yield
2014 2014 2015 2016 2017 2018

19. 19
National and Delta Life Insurance companies are leading in the race of market cap or total market
value with respectively 1608 crore and 1358 crore Taka. They combined have almost 70% of the
total market share. (See Appendix Table-10)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2018 2017 2016 2015 2014
Market Capitalization
National Life Insurance Co. Ltd. Delta Life Insurance Co Ltd.
Eastern Insurance Co. Ltd. Meghna Life Insurance Co. Ltd. Popular Life Insurance
Pragati Life Insurance Ltd Prime Islami Life Insurance Ltd Progressive Life Insurance Co. Ltd.
Sandhani Life Insurance

20. 20
Conclusion & Findings
We can evaluate the companies using two different aspects from the view of the stockholders.
 Capital Gain
 Dividend Yield
If we rank the companies capital gain wise,
1. National Life Insurance Co. Ltd. (148.2)
2. Popular Life Insurance (113.8)
3. Delta Life Insurance Co Ltd. (109.8)
Dividend Yield wise,
1. Eastern Insurance Co. Ltd. , 6.44%
2. Sandhani Life Insurance, 6.43%
3. Popular Life Insurance, 3.51%
It is safe to say these companies are performing well in the market for their stockholders. Also,
companies with high market capital like National and Delta are surely in for the long run. But
there are some companies who might lose their position in the market due to their financial
instability like Prime Life Insurance having less than 1 in quick ratio. Some companies have
really low share price in the market which may lead to distract customers from buying their
shares.

21. 21
References
Alo, J. (2020). Bangladesh: most underinsured nation. Retrieved 9 April 2020, from
https://www.thedailystar.net/business/news/bangladesh-most-underinsured-nation-1674145
Besley, S., & Brigham, E. (2008). Essentials of managerial finance. Mason, OH: Thomson/South-
western.
Financial System: Insurance. (2020). Retrieved 9 April 2020, from
https://www.bb.org.bd/fnansys/insurance.php
Mishkin, F. (2010). Financial markets, institutions, and money (9th ed.). New York: HarperCollins
college publ.
Reilly, F., Brown, K., & Leeds, S. Investment analysis & portfolio management.
Rejda, G., & McNamara, M. (2017). Principles of Risk Management and Insurance, Global
Edition. Harlow: Pearson Education Canada.
Annual Reports of relevant companies.

22. 22
Appendix Table-1 (ROE)
2018 2017 2016 2015 2014
National Life Insurance Co. Ltd. 0.2800 0.3016 0.115 0.283 0.185
Delta Life Insurance Co Ltd. 0.420 0.035 0.222 0.198 0.147
Eastern Insurance Co. Ltd. 0.266 0.117 0.112 0.094 0.101
Guardian Life Insurance Ltd. 0.499 0.972 0.481 0.614
Meghna Life Insurance Co. Ltd. 0.487 0.247 0.263 0.330 0.281
Popular Life Insurance 0.681 0.319 0.296 0.289 0.181
Pragati Life Insurance Ltd 0.682 0.706 0.401 0.424 0.389
Prime Islami Life Insurance Ltd 0.373 0.965 0.335 0.290
Progressive Life Insurance Co. Ltd. 0.247 0.300 0.307 0.321 0.301
Sandhani Life Insurance 0.433 0.132 0.208 0.163

23. 23
Appendix Table-2 (ROA)
2018 2017 2016 2015 2014
National Life Insurance
Co. Ltd.
0.0828 0.0830 0.086 0.107 0.199
Delta Life Insurance Co
Ltd.
0.056 0.053 0.059 0.033 0.199
Delta Life Insurance Co
Ltd.
0.056 0.053 0.059 0.033 0.199
Guardian Life Insurance
Ltd.
0.199 0.235 0.489 0.000
Meghna Life Insurance Co.
Ltd.
0.184 0.226 0.253
Popular Life Insurance 0.228 0.296 0.280 0.275
Pragati Life Insurance Ltd 0.464 0.466 0.537 0.569
Prime Islami Life
Insurance Ltd
0.194 0.000 0.261 0.231
Progressive Life Insurance
Co. Ltd.
0.197 0.119 0.152 0.209 0.206
Sandhani Life Insurance 0.040 0.056 0.098 0.093

24. 24
Appendix Table-3 (Quick Ratio)
2018 2017 2016 2015 2014
National Life
Insurance Co. Ltd.
2.551022609
48619:1
2.471698891
2939:1
2.77557574
991819:1
2.77557574
991819:1
3.54195593
617334:1
Delta Life
Insurance Co Ltd.
4.960804280
56895:1
5.379993580
35371:1
5.65641887
200172:1
6.17850522
816526:1
2.95094769
378841:1
Eastern Insurance
Co. Ltd.
2.970325120
76039:1
3.264728427
15258:1
12.0836460
757857:1
9.17414588
916673:1
5.72991257
194268:1
Guardian Life
Insurance Ltd.
- 6.385094595
15277:1
3.06000662
116731:1
2.77557574
991819:1
7.04989534
764287:1
Meghna Life
Insurance Co. Ltd.
5.910295370
26262:1
6.225395669
28889:1
7.12250989
963247:1
5.88147317
663186:1
6.53799757
327632:1
Popular Life
Insurance
10.28782513
47941:1
5.051534740
479:1
10.2201454
499742:1
2.28035364
025856:1
2.96787133
885933:1
Pragati Life
Insurance Ltd
2.887727722
64152:1
6.538662735
62633:1
7.10738289
148803:1
7.10738289
148803:1
6.83331934
149493:1
Prime Islami Life
Insurance Ltd
0.680289553
560376:1
0.527006264
027954:1
6.88065446
394429:1
6.88741271
116348:1
7.00674418
949073:1
Progressive Life
Insurance Co. Ltd.
7.075055608
43726:1
6.725982674
31107:1
7.01771457
096901:1
8.93804457
859679:1
11.1635532
734059:1
Sandhani Life
Insurance
1.867981900
12654:1
1.463784354
79942:1
4.55199025
506285:1
5.52307238
308178:1
9.37143670
83902:1

25. 25
Appendix Table-4 (Fixed Asset Turnover Ratio)
2018 2017 2016 2015 2014
National Life Insurance Co. Ltd. 4.49628 4.10979 3.93372 3.96873 4.62991
Delta Life Insurance Co Ltd. 5.93424 5.65932 4.77483 4.85614 5.09419
Eastern Insurance Co. Ltd. 0.9412 0.83257 0.82935 0.83123 0.83292
Meghna Life Insurance Co. Ltd. 2.57935 2.72609 2.29229 3.88734 1.90803
Popular Life Insurance 2.48836 1.69251 1.4276 1.36017 1.36122
Pragati Life Insurance Ltd 3.26887 2.71466 2.56124 2.06658 1.4264
Prime Islami Life Insurance Ltd 1.25796 1.47664 1.01339 1.05348 1.01912
Progressive Life Insurance Co.
Ltd.
4.44011 3.90388 4.6479 4.04101 3.0888
Sandhani Life Insurance 1.10166 1.25573 1.23875 1.60595 1.63731

26. 26
Appendix Table-5 (Debt-to-Equity Ratio)
2018 2017 2016 2015 2014
National Life Insurance Co. Ltd. 0.194 0.20 0.19 0.18 0.17
Delta Life Insurance Co Ltd. 0.055 0.05 0.04 0.04 0.05
Eastern Insurance Co. Ltd. 0.26563 0.24 0.25 0.27 0.24
Guardian Life Insurance Ltd. - 0.10 0.08 0.09 0.12
Meghna Life Insurance Co. Ltd. 0.069 0.06 0.06 0.08 0.08
Popular Life Insurance 0.033 0.05 0.03 0.01 0.01
Pragati Life Insurance Ltd 0.069 0.06 0.05 0.04 0.05
Prime Islami Life Insurance Ltd 0.181 0.07 0.08 0.08 0.08
Progressive Life Insurance Co.
Ltd.
0.154 0.17 0.16 0.12 0.09
Sandhani Life Insurance 0.075 0.10 0.07 0.06 0.09

27. 27
Appendix Table-6 (EPS)
2018 2017 2016 2015 2014
Delta Life Insurance Co Ltd. 3.747 4.67 5.15 6.01 5.59
Eastern Insurance Co. Ltd. 3.61 3.53 3.36 2.70 2.52
Guardian Life Insurance Ltd. 0.000 1.005 0.262 0.059 2.215
Meghna Life Insurance Co. Ltd. 6.243 5.942 5.655 6.159 5.753
Popular Life Insurance 5.382 5.289 4.447 6.151 5.570
Pragati Life Insurance Ltd 6.129 6.134 4.590 5.992 5.338
Prime Islami Life Insurance Ltd 4.104 3.831 3.613 3.495 3.104
Progressive Life Insurance Co.
Ltd.
2.803 2.883 2.901 2.914 2.794
Sandhani Life Insurance 1.006 1.257 1.573 1.997 1.978

28. 28
Appendix Table-7 (Share Price)
2018 2017 2016 2015 2014
National Life Insurance Co.
Ltd.
148.2 156.84 139.66 139.74 216.2
Delta Life Insurance Co Ltd. 109.8 107.6 100.6 122.2 149.9
Eastern Insurance Co. Ltd. 27 28.7 27.1 25.7 34.5
Meghna Life Insurance Co.
Ltd.
77.9 59.9 53.05 51.7 68.48
Popular Life Insurance 113.8 71.5 69.8 76.9 102.5
Pragati Life Insurance Ltd 99.74 89.8 68.38 76.69 67.9
Prime Islami Life Insurance
Ltd
57.9 54.9 67.9 39.3 79.4
Progressive Life Insurance
Co. Ltd.
65.2 73.2 53.6 57 87.4
Sandhani Life Insurance 25.9 26.25 23.26 21.33 27.32

29. 29
Appendix Table-8 (P/E Ratio)
Delta
Life
Insuran
ce Co
Ltd.
Eastern
Insuran
ce Co.
Ltd.
Meghn
a Life
Insuran
ce Co.
Ltd.
Popula
r Life
Insuran
ce
Pragati
Life
Insuran
ce Ltd
Prime
Islami
Life
Insuran
ce Ltd
Progress
ive Life
Insuranc
e Co.
Ltd.
Sandha
ni Life
Insuran
ce
2018 29.303 7.47922
44
12.478 21.145 16.273 14.108 23.261 25.746
2017 23.04 8.13 10.08 13.52 14.64 14.33 25.39 20.88
2016 19.53 8.07 9.38 15.70 14.90 18.79 18.48 14.79
2015 20.33 9.52 8.39 12.50 12.80 11.24 19.56 10.68
2014 26.82 13.69 11.90 18.40 12.72 25.58 31.28 13.81

30. 30
Appendix Table-9 (Dividend Yield)
2018 2017 2016 2015 2014
National Life Insurance Co.
Ltd.
1.390 1.24 1.00 0.80 1.91
Delta Life Insurance Co Ltd. 2.370 2.32 1.99 1.47 1.33
Eastern Insurance Co. Ltd. 6.4411571 6.30 7.35 7.78 5.80
Meghna Life Insurance Co.
Ltd.
2.570 3.34 4.49 4.39 3.64
Popular Life Insurance 3.515 5.59 5.73 3.72 2.79
Pragati Life Insurance Ltd 2.620 2.20 2.47 0.00 2.19
Prime Islami Life Insurance
Ltd
2.070 2.73 3.69 6.36 3.15
Progressive Life Insurance
Co. Ltd.
3.067 2.73 3.73 3.51 2.29
Sandhani Life Insurance 6.435 5.29 7.17 8.45 6.10

31. 31
Appendix Table-10 (Market Cap)
2018 2017 2016 2015 2014
National Life Insurance
Co. Ltd.
16082957
584
14800510
870
114602494
69
955567846
1
147841540
24
Delta Life Insurance Co
Ltd.
13587750
000
13315500
000
124492500
00
151222500
00
185501250
00
Eastern Insurance Co. Ltd. 11639738
88
12372611
33
116828490
2
110793072
14
148729996
8
Meghna Life Insurance
Co. Ltd.
26113570
23
20079625
89
170802131
2
157195731
9
173513281
8
Popular Life Insurance 68767471
40
43206275
97
421789938
8
464694073
0
442421908
3
Pragati Life Insurance Ltd 13314467
15
10897781
37
709259242 795453221 670743360
Prime Islami Life
Insurance Ltd
17671213
17
16755606
27
207232361
7
114232862
0
209810069
5
Progressive Life
Insurance Co. Ltd.
83884859
5
94177480
3
689605594 733349232 112446882
2
Sandhani Life Insurance 28411945
95
28795891
16
212632515
8
129992880
1
166498147
4