Sun Life Insurance Company Limited, a prominent player in the insurance sector, has experienced a notable reduction in the size of its life insurance fund during the first half (January-June) of the 2022-2023 fiscal year compared to the corresponding period last year. Data obtained from the Dhaka Stock Exchange reveals that by the close of June 30 in the ongoing fiscal year, Sun Life Insurance’s life insurance fund amounted to Tk 450.71 million, a sharp decline from Tk 1.1575 billion reported during the same period in the previous fiscal year. This reduction marks a significant shortfall of Tk 700.07 million in the company’s life insurance fund over the course of the accounting year.
The company’s board of directors recently sanctioned the sale of four floors within the Sunlife Tower, a key asset situated in the capital. This decision emerged from a board meeting held last Wednesday, wherein approval was also granted for the unaudited financial reports of the first (January-March) and second (April-June) quarters of the current fiscal year, following the endorsement of the audited financial report for the year ending December 31, 2022. The company’s latest Annual General Meeting, scheduled to be virtually convened on September 19 at 3:00 pm, has refrained from recommending any dividends to shareholders for the fiscal year ending December 31, 2022.
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