Delta Life Insurance Company Limited  incorporated as a public limited company under the companies act 1913 on 10 November 1986 to carry out life insurance business within the framework of Insurance Act 1938 and Rules 1958, as well as other associated laws and regulations. The company was established with an authorised capital of Tk 50 million, and paid up capital of Tk 30 million divided into 300,000 fully paid ordinary shares of Tk 100 each. The company was enlisted in Dhaka and Chittagong stock exchanges in 1995.

The company is engaged mainly in ordinary life insurance, Gana Bima (people's insurance) and Grameen Bima (rural insurance) businesses. It also operates group insurance and health insurance businesses. The company signed its first policy on 17 December 1986. It launched Grameen Bima in February 1988, Gana Bima on 8 October 1993, and the Delta Care Hospitalisation Plan on 7 February 1994.

Except a marginal fall in the volume of new life insurance business from Tk 351.50 million in 1999 to Tk 349.10 million in 2000, the company maintained its growth in all other years. Its total revenue increased by over 10% to Tk 1,366 million and its gross premium income increased by 7.40% to Tk 1,202.50 million in 2000 over the previous year. In 2000, Grameen Bima gross premiums were Tk 188.60 million against 246,470 policies. Under its Gana Bima Scheme, total number of policies in that year stood at 385,114 and the corresponding sum assured was Tk 4,719.89 million. In the same year, under its Group Insurance Scheme, total number of lives insured stood at 162,864 against 362 policies and the Delta Care Health Insurance gross premium income was Tk 8.70 million.

The Life Fund Account of the company stood at Tk 2,670.30 million at the end of 2000. Actuarial valuation results show that its life fund is well in excess of its policy liabilities. After taking into consideration assets and liabilities as well as the fund requirements for future development and expansion, the company paid dividend @ 40% in 2000.

A 36-member board of directors oversees the overall affairs of the company. Its workforce is 3,826, of which 31 are executive officers led by the managing director as the chief executive. In addition to its head office at Dhaka, the company has different types of offices at different places throughout the country. It has 12 servicing cells and 58 agency offices for ordinary life, 55 offices for Gana Bima, and 25 offices for Grameen Bima. [S M Mahfuzur Rahman]