Delta Life Insurance 2009

Annual Report 2009
Annual Report
2009
1;\
Delta Life Insurance Company Ltd.
Registered Office:
Uttara Bank Bhaban, 90 Motijheel Commercial Area, Dhaka-1 000, Bangladesh
Phone : 9565033 (PABX), FAX : 88-02-9562219
Website : www.deltalife.com
Chronology
Contents
Notice of the 24th Annual General Meeting........ 03
10 November 1986 Incorporation and

Commencement of Business
Financial Statistics ..............................................04

Directors' Report ...............................................05
17 December 1986
Signing of First Policy
Corporate Governance Report ..........................07
February
1988 Launching of Grameen Bima
Auditors' Report ................................................16
8 October
1993 Launching of Gono Bima
Balance Sheet ......................................................19
7 February
1994
Life Revenue Account ........................................21

Cash Flow Statement .........................................24
13 September 1995
Inauguration of Delta Care

Hospitalisation Plan
Listed in Dhaka Stock
Exchange Ltd.
Statement of Life Insurance Fund ......................25

Form-AA ............................................................
27
Notes to the Financial Statements ....................29
6 December
1995
March
2001 Membership of Global Network

for Banking Innovation
in Microfinance (GNBI)
4 January
2003 Gono-Grameen Bima Merged
Certificate under the Insurance Act 1938 ..........61

Proxy Form & Attendance Slip .........................63
Listed in Chittagong Stock

Exchange Ltd.
1 .
Annual Report 2009
Delta Life

90 Motijheel Commercial Area, Dhaka-1000, Bangladesh.
Notice of the Twentyfourth Annual General Meeting

Notice is hereby given to all the shareholders of Delta Life Insurance Co. Ltd. that the 24 Annual
General Meeting of the Company will be held on Saturday day, the 16" November, 2013 at 12:00 Noon
at Delta Life Tower, Plot No. 37, Road No. 45 (South) & 90 (North), Gulshan Circle -2 , Dhaka to
transact the following business
Agenda:
To receive, consider and adopt the Directors' and Auditors' Report and the Audited Accounts for the
year ended December 31, 2009.

Dated, Dhaka
October 21, 2013
By order of the Board of Directors

Sd/(Abdullah Al-Mansur)
Company Secretary
Notes:
a. The Record Date has been fixed on 30 ,h October, 2013. The shareholders whose name appears in
the Register of Members of the Company or in the Depository (CDBL) on the Record Date i.e.
30' October, 2013 shall be entitled to attend the meeting.
b. A Shareholder entitled to attend and vote at the Annual General Meeting (AGM) may appoint a
proxy who must be a shareholder of the Company to attend on his/her behalf. The proxy form,
duly completed & stamped must be deposited at the Registered Office of the Company not less than
48 hours before the time fixed for the Meeting.
c. Admission to the Meeting will be on production of the attendance slip sent with the Annual Report.
N.B. As per the Judgement delivered on 20/06/2013 by the Appellate Division of the Hon'ble Supreme
Court of Bangladesh, election of Directors and appointment of Auditors will not be required in
this AGM and hence not included in the agenda.
03
Annual Report 2009

Delta Life
Financial Statisd
Business Performance -2009
First Year Premium

Renewal Premium
Group Insurance Premium
Health Insurance Premium
Gross Premium
Investment Income
Claims
Management Expenses
a) Commission
b) Admin. Expenses
Assets
Life Fund
Claims to Premium (%)
Management Expenses to premium (%)
Dividend on face value of share
a)Cash
b)Stock
2009
107.37
300.84
19.94
10.68
438.83
181.90
204.22
2008
95.32
266.79
16.17
5.23
383.51
127.64
243.40
2007
82.30
245.00
10.60
3.29
341.19
112.05
175.80
82.43
58.35
1750.29
1613.59
46.54
32.08
70.71
53.24
1469.60
1342.47
63.47
32.32
64.03
48.51
1321.25
1198.66
51.53
32.98
-
-
(Taka in Crore)
2006
2005
81.93
85.40
207.06
166.76
6.51
8.32
2.66
2.30
303.44
257.50
60.01
89.14
89.84
52.60
65.06
43.16
1125.12
1032.88
29.61
35.66
60.43
36.01
916.38
843.05
20.43
37.45
-
-
-
-
2007
2006
2005
Business Growth
2009
Premium
Assets
Life Fund
04
14.42
19.10
20.20
2008
12.40
11.23
12.00
12.44
17.43
16.05
17.84
22.78
22.52
22.47
23.16
23.83
Annual Report 2009
Delta Life
Directors' Report
Bismillahir Rahmanir Rahim
Respected Shareholders, Assalamualaikum,
The Board of Directors welcome you all to the 24" Annual General Meeting of Delta Life Insurance
Company Limited and present before you the Annual Report together with Audited Accounts for the year
2009 and the Auditors' Report thereon.
The Board of Directors continued to focus on mainly two key priorities in 2009; a) to sustain growth of
business and to improve our financial strength and b) to invest in the future. Delta Life made steady progress
towards these two areas in 2009.
Growth of Business & Financial Strength:
Delta Life Insurance Company Ltd. completed another successful year in 2009. The premium income of the
company consists of premium from OL (Ordinary Life), GN-GRB (Gono Grameen Bima), and Group
Insurance business. The gross premium income of the company increased to TK. 438.83 crore in 2009 from
TK. 383.51 crore in 2008 achieving 14.42 % rate of growth. The combined efforts of the sales team and
prudent guideline of the board & management have made it possible to register such a progress.
Investment and other income have registered a positive growth of around 41.08% in 2009 as such the income
has increased to TK. 186.24 crore in 2009 from TK. 132.01 crore in 2008.
Total income of the company has increased to TK. 622.07 crore in 2009 from 513.03 crore in the year 2008
registering a growth of 21.25%.
Your company has paid and provided claims of TK.204.22 crore during the year 2009 as against TK. 243.40
crore in 2008.
Average rate of interest yield on investment in the year 2009 stands at 13.11%.
A favourable trend has been observed in the management expenses of the company for the last couple of
years. The management expenses to premium ratio for the year 2009 stands at 32.08% as compared to
32.32% in 2008.
Life fund of the company as at December 31, 2009 stands at TK. 1613.59 crore as against TK. 1342.47 crore
in 2008 registering a growth of 20.19%. An increase in life insurance fund is a clear indication of progressive
business.
Cash provided by operating activities stands at TK. 80.16 crore in 2009, which represents 18.39% of net
premium income.Net operating cash per share is TK.178.
Investment for the Future:
We put wholehearted efforts to ensure responsible and quality Corporate Governance with the highest level of
integrity. We tried our best to streamline the organizational structure of the company in a bid to provide quality
services to our clients at an affordable cost. We have been recruiting dynamic and enlightened young
professionals who would provide leadership in future and contribute accordingly to the growth of the company.
05
Annual Report 2009

Delta Life
We continue to provide strategic directions in order to develop values; strengthen team spirit and improve
our core capabilities. Combined together, all of these efforts would enable the company to sustain its growth
and improve our financial strength in the time to come by way of providing value added services to our
clients.
Dividend:
Bonus to the policyholders and shareholders are given from the surplus available for distribution as per the
actuarial valuation report. Following the verdict/judgment of the honourable Supreme Court of Bangladesh
(Appellate Division), pending AGMs for the years 2005-12 shall be held on the same day one after another
with separate and distinct notices.
Surplus for the years 2005-2006, 2007-2008, 2009-2010 & 2011 have been carried forward. Out of the surplus
emerged in 2012 together with accumulated surplus for the years 2005 to 2011, 21 bonus shares (stock
dividend) for each share of TK. 10 has been proposed by the Board of Directors in its meeting held on
October 5, 2013 for approval of the members at the 27" Annual General Meeting to be held on November
16, 2013.
Corporate Social Responsibility:

The company has always played its part in carrying out corporate social responsibilities sponsoring the
prizes of Bishya Sahitya Kendra's 'Boi Para Karmashuchi' under its 'Desh Vittik Utkarsha Karjakram' for
over a decade to promote reading habit among the school goers. We have also sponsored women's
school/college handball tournament to encourage female participation in sports.
Outlook for the year 2010:
Your company is poised to further consolidate its activities in a bid to maintain its leading position by
relishing a healthy growth in all relevant spheres in the year 2010. The operational results achieved so far in
2010 shows a healthy growth over that of the year 2009. Our activities will gain further momentum in the
coming days of 2010.
Appreciation:
On behalf of the Board of Directors, I wish to extend my heartfelt gratitude to our valued policyholders,
honourable shareholders, the Office of the Chief Controller of Insurance, our bankers, Securities and
Exchange Commission (SEC), Dhaka and Chittagong Stock Exchanges and Central Depository of
Bangladesh Ltd. (CDBL) for their continuous support and cooperation. The Board of Directors also
expresses deep appreciation to the Sponsors, Patrons, and Company Management, all members of our staff
and well wishers whose continuous support/effort and patronage have made these results possible.
For and on behalf of the Board
Dhaka, October 05, 2013

Chairman
Board of Directors
M06
Annual Report 2009
Delta Life
Corporate Governance Report:

The Company implements good corporate governance policies and strongly believes that through fostering
sound corporate governance, further enhancing its transparency and establishing effective system of
accountability, the Company can operate in a more systematic manner, make decisions in a more scientific
way, and boost the confidence of policy holders, share holders and other stakeholders.
Summary of corporate governance
Shareholders'
General Meeting
Board
Executive
Committee
Audit
Committee
Building &
Claims
Committee
Training &
HRD

Committee
Board
Secretariat/Company
Secretary
Company corporate governance philosophy is based on the following principles:

1.
2.
3.
4.
5.
6.
Be transparent and maintain a high degree of disclosure levels.

Comply with all the applicable laws, rules and regulations.
Fair and equitable treatment of all its stakeholders including employees, policyholders and
shareholders.
Ensuring timely flow of information to the Board and its Committees to enable them to discharge their
functions effectively.
A sound system of risk management and internal control.
Independent verification of the Company's financial reporting.
07
Annual Report 2009

Delta Life
The Directors attended and actively participated in Board Meetings, and meetings of the Committees, in
which they are members.
The number of Board meetings and the attendance of Directors during the year 2009 were as follows:
SL
No
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
Name
Designation
Mr. Syed Moazzem Hussain

Chairman
Director
Mr. Monzurur Rahman
Dr. Syed Mukarram All
Director
Director
Dr. Muhammad Raushan All
Mr. Mohd. Syedul Islam
Director
Director
Mr. Nurul Huda
Director
Mrs. Farida R. Ahmed
Mrs. Fahmida R. Naser
Director
Director
Mrs. Farida Mostafa
Director
Dr. Nasiruddin Ahmed
Director
Dr. Sadigur Rahman Malik
Director
Mr. Mahmud Hasan
Mr. Habibur Rahman Khan
Director
Mr. Borhanuddin Ahmed
Director
Director
Mr. Arif Ahmed
Director
Mr. Md. Nurul Islam
Director
Mr. Kazi Faziur Rahman
Mr. Golam Sarwar
Director
Director
Ms. Adeeba Rahman, ACII
Director
Mrs. Syeda Soyeli Ahmed
Director
Ms. Anika Rahman
Ms. Saika Rahman
Director
Mr. Aziz Ahmed, FCA, CISA (USA) Director
Director
Mr. Md. Abdul Wahab
Total number
of meetings
attended
Total
Number of
meetings held
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
4
5
5
5
5
5
5
5
2
5
3
5
5
5
4
5
5
5
Directors not being present in any particular Meeting of the Board of Directors were granted
Leave of Absence.
08
Annual Report 2009
Delta Life
COMPOSITION OF COMMITTEES OF THE BOARD AND ATTENDANCE AT THE MEETINGS

The Board in the course of carrying out its duties has set up Board Committees delegated with specific
authority and operating on the terms of reference as approved by the Board, to assist the Board in the
execution of its responsibilities. These Committees shall have the authority to examine particular issues and
report back to the Board with their recommendations. The ultimate responsibility for the final decision on
all matters, however, lies with the entire Board.
The Board Committees set up to assist the Board on specific areas of responsibilities are set out below:
a) Executive Committee
Total number
Total
Designation
Name
SL.
of meetings
number of
No.
attended
meetings
held
10
10
Chairman
01
10
10
Member
Mr. Nurul Huda
02
10
Member
10
03
8
10
Member
Dr. Muhammad Raushan Ali
04
10
10
Member
05
3
10
Member
Mrs. Farida R. Ahmed
06
10
10
Member
Mr. Md. Nurul Islam
07
b) Audit Committee
Total number
Designation Total number
Name
SL.
of meetings
of
meetings
No.
attended
held
4
4
Chairman
1.
4
Member
4
2.
4
Member
4
3.
4
4
Member
4.
4
4
Member
Mr. Nurul Huda
5.
4
Member
4
6.
4
Member
4
Mrs.
Syeda
Soyeli
Ahmed
7.
4
4
Member
Mrs. Fahmida R. Naser
08

& Claims Committee
C)

Total number
Designation Total number
Name
SL.
of meetings
of
meetings
No.
attended
held
9
9
Mr. Nurul Huda
1J
9
Member
9
Dr. Syed Mukarram Au
9
9
Member
9
Member
9
Dr. M. Raushan All
9
9
Member
Mr. Mohd Syedul Islam
9
9
Member
Dr. Nasiruddin Ahmed
7
9
IN
Member
8
Member
9
Mrs.
Farida
Mostafa
IRS
Committee
& Human Resources Devel
d)
Total number
Total
Designation
Name
SL.No
of meetings
number of
attended
meetines held
2
2
Chairman
Dr.
Muhammad
Raushan
Ali
01
2
2
Member
Dr.
Syed
Mukarram
Ali
02
2
2
03
2
2
Member
Mr. Muhammad Syedul Islam
04
2
2
Member
Mr. Nurul Huda
05
2
2
Member
Mr. Mahmud Hasan
06
2
2
Member
Mr. Golam Sarwar
07
09
Annual Report 2009

Delta Life
SHAREHOLDING INFORMATION
As on December 31, 2009, the following shareholders were holding the company's issued ordinary share
capital:
(i)
(ii)
Parent/Subsidiaries/Associate companies and other related parties - Nil.

Directors, Chief Executive Officer, Company Secretary, Chief Financial Officer, Head of Internal
Audit and their Spouse and minor Children.
Share Holding of Directors:
Si. No. Name of the Directors
No. of share
6,805
Mr. Monzurur Rahman
8,475
3,000
2,000
Mr. Nurul Huda
5,000
Mrs. Farida R.Ahmed
5,000
Mrs. Fahmida R.Naser
5,000
Mrs. Farida Mostafa
2,800
Dr. Nasir Uddin Ahmed
3,000
10
4,900
11
Mr. Mahmud Hasan
5,000
12
2,000
13
4,500
14 Mr. Aziz Ahmed, FCA, CISA (USA)
100
15
Mr. Kazi Faziur Rahman
120
16
Mr. Borhanuddin Ahmed
1,681
17
Mr. Md. Nurul Islam
18 jMr. Md. Abdul Wahab
500
100
19
Mr. Arif Ahmed
2,000
20
Mr. Golam Sarwar
2,000
21
Ms. Adeeba Rahman, ACII
10,226
22
jMrs. Syeda Soyeli Ahmed
23
Ms. Anika Rahman
10,263
24
Ms. Saika Rahman
10,190
Chief Executive Officer, Company Secretary, Chief
320
Nil
Financial Officer, Head of Internal Audit

Share held by Executives:
Nil
(iv) Shareholders holding 10% or more voting rights:
Nil
Note In the 7th EGM held on 17th November 2011, the Shareholders' of the Company approved the change
of present market lot of 5 (five) shares of Tk. 100 each to the lot of 50 (fifty) shares of Tk. 10 each.
10
Annual Report 2009

Delta Life
CORPORATE GOVERNANCE COMPLIANCE REPORT

Status of the compliance with the condition imposed by the commission's Notification No.
SEC/CMRRCD/2006-158/Admin 02-08 dated 20th February, 2006 issued under the section 2CC of the
Securities and Exchange Ordinance, 1969:
Condition
No.
Title
Compliance status
Complied
1.1
1.2
(i)
(ii)
1.3
Board's
Independent Directors
Independent Directors
Explanation for non

compliance with the
condition
Not
complied
Size
Due to litigation Board

size could not be brought
down.
Under consideration
Independent Director's
Appointment
Chairman of the Board and
Chief Executive Officer
1.4
The Directors' Report to Shareholders

(a)
Fairness of state of the affairs
(b)
Keeping proper books of
(c)
(d)
accounts
Consistent application of
Accounting policies in
preparation of Financial
Statements.
Observance of Bangladesh
Accounting Standard (BAS)
(e)
Soundness and efficiency of

Internal Control
(0
Ability to continue as going

concern
(g)
Significance deviations from

last year in operating result.
(h)
Presentation of Key operating

and financial data for last three
years.
(i)
Declaration of Dividend Due to non-holding of

AGM, as a result of
Company Matter No 114
of 2005.
11

Annual Report 2009
Condition
Delta Life
Compliance status
Title
No
Complied
(j)
Number of Board Meetings

held during the year and
attendance by each director.
(k)
Pattern of Shareholding
2.1
Appointment of:
Chief Financial Officer
-
(CFO)
- Head of Internal Audit
- Company Secretary
2.2
Requirements to attend
Board Meetings:
-
Chief Financial Officer
(CFO)
- Company Secretary
Explanation for
noncompliance
with the condition
Not
complied
AUDIT COMMITTEE
3.00
Constitution of Audit Committee
3.1
(i)
Composition of Audit
Committee
(ii)
Audit Committee Members
No Independent
Appointment
Directors had been

appointed by the
Board.
(iii)
Terms of Service of Audit

Committee.
3.2
Chairman of the Audit Committee

(i)
Selection of the Chairman of

Audit Committee
(ii)
Qualification of the Chairman

of Audit Committee
3.3
Reporting of the Audit

Committee
3.3.1 (i)
Reporting its activities to the

Board of Directors
3.3.1 (ii)
Report to the Board by Audit

Committee
3.3.1 (ii)(a) Report on conflicts of interests
12
N/A
POPP
gill
Annual Report 2009
Delta Life
Title
Condition
Compliance status
No.
Complied
Explanation for
noncompliance
with the condition
Not
complied
3.3.1 (ii)(b) Suspected or presumed fraud or

irregularity or material defect in
the internal control system.
3.3.1 (ii) (c) Suspected Infringements of
N/A
laws, including securities

related laws, rules and
regulations.
3.3.1 (ii)(d) Any other matter which
should be disclosed to the
Board of Directors
immediately
N/A
3.3.2
Reporting to the Authorities
3.4
Reporting to the
Due to non-holding of
Shareholders and General
AGM, as a result of
Investors
Company Matter No
114 of 2005.
EXTERNAL/STATUTORY AUDITORS
4.00
(i)
Appraisal or Valuation
Services
(ii)
Financial Information Systems

design and implementation
(iii)
Book-keeping or other services

related to financial statements.
(iv)
Broker-Dealer Services
(v)
Actuarial Serv ices
(vi)
Internal Audit Services
(vii)
Any Other Services that the

audit committee determines.
13
Auditors'
Report
______
Annual Report 2009
Delta Life
Auditors' Report
to the Shareholders
We have audited the accompanying financial statements of Delta Life Insurance Company Limited, which
comprises the Balance Sheet as at 31 December, 2009 and the related Life Revenue Accounts and Cash Flows
Statement, Statement of Changes in Equity for the year ended, and a summary of significant accounting
policies and other explanatory notes.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with Bangladesh Financial Reporting Standards (BFRS), the Companies Act 1994, the Insurance
Rules 1958, Insurance Act 1938, The Securities and Exchange Rules 1987 and other applicable laws and
regulations. This responsibility includes: designing, implementing, and maintaining internal control
relevant to the preparation and fair presentation of financial statements that are free from material
misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies and
making accounting estimates that are reasonable in the circumstances.
Auditors' Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted
our audit in accordance with Bangladesh Standards on Auditing (BSA). Those standards require that we
comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether
the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the
financial statements. The procedures selected depend on the auditor's judgment, including the assessment of
the risks of material misstatement of the financial statements, whether due to fraud or error. In making those
risk assessments, the auditor considers internal control relevant to the entity's preparation and fair
presentation of the financial statements in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal
control . An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by management, as well as evaluating the overall presentation
of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinion.
Opinion:
In our opinion, the Financial Statements prepared in accordance with Bangladesh Financial Reporting
Standards (BFRS), give a true and fair view of the state of the statement of the company's Affairs as at 31st
December 2009 and of the results of its operations, its cash flows and statement of changes in equity for the
year then ended and comply with the Companies Act 1994, the Insurance Rules 1958, Insurance Act 1938,
the Securities and Exchanges Rules 1987 and other applicable laws and regulations.
Further to our opinion in the above paragraph, we state that:
We have obtained all the information and explanations which to the best of our knowledge and
(i)
belief were necessary for the purpose of our audit and made due verification thereof;
16
Annual Report 2009

Delta Life
(ii)
in our opinion, proper books of account as required by law have been kept by Delta Life Insurance
Company Limited, so far as it appeared from our examination of those books;
(iii)
the company's Balance sheet, Life Revenue Accounts, Cash Flows Statement and its Statement of
Changes in Equity dealt with by the report are in agreement with the books of account and
returns;
(iv)
The expenditure incurred was for the purpose of the company's business.
(v)
As per section 40-b (2) of the Insurance Act 1938 as amended, we certify that to the best of our
knowledge and belief and according to the information and explanations given to us, all expenses
of management whenever incurred and whether incurred directly or indirectly, in respect of
insurance business of the Company transacted in Bangladesh during the period under report have
been duly debited to the related Revenue Account of the Company and,
(vi)
As per regulation 11 of part 1 of the third schedule of the Insurance Act 1938 as amended, we
certify that to the best of our knowledge and as shown by its books, the company during the
period under report has not paid any person any commission in any form outside Bangladesh in
respect of any of its business re-insured abroad.
M. N. Islam & Company

Chartered Accountants
17
Financial
Statements

Annual Report 2009
Delta Life
As at December 31, 2009

Notes
SHARE CAPITAL AND LIABILITIES
SHAREHOLDERS' CAPITAL
2009
Taka
2008
Taka
4.00
Authorized

3,00,00,000 Ordinary Shares of Tk. 10 each
300,000,000
Issued, Subscribed and Paid - up
45,00,000 Ordinary Shares of Tk. 10 each
fully paid up in cash
45,000,000
Dividend Equalisation Reserve
300,000,000
45,000,000
1,000,000
Life Insurance Fund

5.00
Estimated liabilities in respect of outstanding claims,
6
whether due
.00
or intimated
Amount due to other persons or bodies carrying on
insurance business
7.00
Sundry Creditors
8.00
Provision for Doubtful Debts
9.00
Reserve for Unexpired Risk
Premium Deposits
10.00
TOTAL SHARE CAPITAL AND LIABILITIES
16,135,913,971
1,000,000
13,424,726,552
603,844,575

19,490,414

475,506,086

86,845,641

127,691,040

7,641,656

1,321,019,412
17,502,933,383
18,290,661
397,808,126
64,248,084
84,086,216
7,360,433
1,225,321,276
14,696,047,828
The annex notes form an integral part of these financial statement
/j
Swapan Kumar Sarkar, FCA
Managing Director (In-charge)
Md. Mujibur Rahman

Director
Aziz Ahmed, FCA, CISA Monzurur Rahman

Chairman
Director
19

Annual Report 2009
Delta Life
PROPERTY AND ASSETS

LOAN
On Insurer's Policies within their surrender value
11.00
INVESTMENT (AT COST)

Statutory Deposit with Bangladesh Bank (NIB)
Bangladesh Govt. Treasury Bond (BGTB)
Shares Listed on Stock Exchanges
Debentures and Bonds
Shareholding in DBH Finance Corp. Ltd
Mutual Fund
Central Depository Bangladesh Ltd.
Other Loans
12.00
Agents' Balance
Outstanding Premium
Interest, Dividends and Rents Accruing But Not Due
Advances And Deposits
Sundry Debtors
OTHER ACCOUNTS
Fixed Assets (At Cost Less Depreciation)
Stamps, Printing and Stationery in Hand
TOTAL PROPERTY AND ASSETS
363,915,863
325,064,387
2,000,000
5,136,935,206
2,156,686,678
29,012,191
50,000,000
61,500,000
2,000,000
110,155,199
7,548,289,274
2,000,000
4,162,604,438
702,352,025
459,973,962
50,000,000
2,000,000
113,912,493
5,492,842,918
3,656,785
918,571,266
517,141,067
466,299,442
60,646,576
3,655,879
830,801,396
562,295,015
377,572,011
60,880,141
5,255,279,983
735,781,246
583,242,833
666,825
35,698,324
375,876,734
56,344,380
7,042,890,325
5,489,618,938
246,335,009
497,627,688
1,331,334
19,690,617
293,128,849
42,541,224
6,590,273,659
572,191,203
9,331,582
442,702,449
9,959,973
17,502,933,383
14,696,047,828
13.00
14.00
15.00
16.00
CASH AND BANK BALANCES

1
On Fixed
7.01
Deposit with Banks

On Current Account with Banks
17.02

On STD Account with Banks
17.03
Cash in Hand
Cash in Transit

Collection in Hand
18,00
Branch Petty Cash
2008
Taka
2009
Taka
Notes
19.00
4#1ze-All,
6ra_"_
t

Md. Mujibur Rahman

Director
Aziz Ahmed, FCA, CISA

Director
Monzurur Rahman
Chairman
Signed as per annex report on even date

M. N. Islam & Co.

Annual Report 2009
Delta Life
For the year ended December 31, 2009

Notes
BALANCE OF FUND AT THE BEGINNING OF
THE YEAR
ADJUSTMENTS MADE DURING THE YEAR
PREMIUM LESS REINSURANCE
First Year Premium (OL)
First Year Premium (GN-GRB)
20.00
21.00
Renewal Premium (OL)

Renewal Premium (GN-GRB)
Group Life Insurance Premium
Gross Premium
Reinsurance Premium
Net Premium
INTEREST, DIVIDENDS AND RENTS
OTHER INCOME
22.00
23.00
TOTAL INCOME
2009
Taka
2008
Taka
13,424,726,552
11,986,629,415
92,007,572
85,448,800
r654,424,643
419,314,102J
1,073,738,745
1,785,340,459
1,223,035,054
3,008,375,513
199,436,944
106,798,415
306,235,359
4,388,349,617
(30,090,308)
4,358,259,309
572,814,528
380,394,579
953,209,107
P1,i1,932,970
1,116,001,142
2,667,934,112
161,681,499
52,259,011
213,940,510
3,835,083,729
(24,956,150)
3,810,127,579
1,818,989,557
43,371,083
1,276,427,981
43,699,811
19,737,354,073
17,202,333,586
30,480,289
691,623
138,243
568,459
94,742
124,798
382,8 13,891
14,573,827
644,252,873
1.073,738,745
34,035,740
1,700,781
377,903
150,563
347,893
149,277
337,623,623
14,015,858
564,807,469
953,209,107
First Year Premium, where the maximum premium paying period is;
Single
Five years
Six years
Seven years
Eight years
Nine years
Ten years
Eleven years
Twelve years or over (including throughout life)
21

Annual Report 2009
Delta Life
or the year ended December 31, 2009

Notes
CLAIMS UNDER POLICIES (INCLUDING

PROVISION FOR CLAIMS DUE OR
INTIMATED), LESS REINSURANCE
By Death
By Maturity
By Survival
By Hospitalisation
By Others
By Surrenders
Annuities
Bonus in Cash
2008
Taka
24.00
Profit Commission
EXPENSES OF MANAGEMENT
Commission:
25.00
(a) Commission to Insurance Agents (Less that on reinsurance)
(b) Allowances and Commission [other than commission including
in sub-item (a) preceding]
Salaries etc. (other than to agents and those contained in the

allowance and commission)
Traveling and Conveyance
Directors Fees
Medical Fees
Legal and Professional Fees
26.00
Insurance Policy Stamp

Advertisement and Publicity
27.00
Printing and Stationery
Office Rent
Bank Charges
Repairs and Maintenance
Car Fuel, Maintenance & Repairs
Group Insurance
Papers and Periodicals
Telephone, Telex and Electricity etc.
Training & Recruitment Expenses

Fees, Subscriptions and Donation
!SIS
Entertainment
Insurance Premium (General)
Postage and Telegram
Uniform and Liveries
Development Expenses
22
2009
Taka
1,139,003,843
471,526,381
67,695,900
1,714,160
52,693,018
538,597
130,827,618
2,041,220,130
937,158
2,042,157,288
657,287,4
118,507,729
1,707,515,482
403,499,270
35,788,814
1,635,649
57,930,313
406,351
102,586,507
2,427,870,115
6,139,937
2,434,010,052
552,455,496
L7P60,797
824,348,219
154,635,603
707,091,099
331,667,116
7,118,241
266,800
2,027,868
1,850,530
13,234,235
5,347,817
14,313,873
54,977,903
41,086,319
4,912,087
20,813,840
2,785,714
457,931
9,737,739
3,587,779
1,856,433
2,454,801
2,039,924
3,125,328
444,734
13,037,979
309,301,375
6,684,116
209,300
1,991,269
2,389,126
12,071,775
8,624,718
12,410,472
47,590,316
27,856,200
4,186,022
18,979,454
3,215,635
490,745
9,742,591
1,342,394
3,987,739
2,027,163
1,607,349
3,104,199
601,365
11,096,121

Annual Report 2009
Delta Life

Notes
Prizes and Awards

Conference
Company Registration (Renewal) Fees
Stamps
Staff Transport Expenses
Depreciation on Fixed Assets
CDBL Related Charges


Provision for Income Tax
BALANCE OF THE FUND AT THE END OF
THE YEAR AS SHOWN IN THE BALANCE SHEET
TOTAL

2009

Taka

2008
Taka
2,818,145
2,350,000
13,422,819
1,780,990
1,421,000
23,736,476
805,211
583,479,632
1,407,827,851
2,910,965
4,360,872
11,941,447
1,753,157
1,190,400
20,611,243
171,076
532,448,604
1,239,539,703
23,763,923
127,691,040
19,971,063
84,086,216
16,135,913,971
19,737,354,073
13,424,726,552
17,202,333,586
29.00

Md. Mujibur Rahman

Director

Director
Chairman
Signed as per annex report on even date
M. N. Islam & Co.

23
Annual Report 2009
Delta Life
CASH FLOW STATEMENT

2009
Taka
2008
Taka
Cash flows from Operating Activities
Collection from Premium

Other Income received
Payment for Claims
Payments for Operating activities
Source Tax (Income Tax) deducted
Net cash from operating activities
4,300,579,1
43,335,358
(2,091,840,469)
(1,360,991,413)
(89,452, 17)J
801,631,049
3,652,529,157
39,503,039
(2,457,193,182)
(1,205 442 041)
(82,603,157)
(53,206,184)
Cash flows from Investing Activities

Investment made
Acquisition of Fixed Assets
Loan against Policies Paid
Other Loans realised
Interest, dividends & rents received
Proceeds from sale of Fixed Assets
Net Cash used in investing activities
(2,059,203,650)
(118,900,753)
(38,851,476)
3,757,294
1,864,143,505
40,872
(349,014,208)
(1,039,035,572)
(60,373,992)
(30,665,539)
21,386,319
1,554,692,747
4,198,172
450,202,135
Cash flows from Financing Activities

Dividend Paid
Net cash used in financing activities
Net increase in Cash & Cash equivalents
Cash and Cash equivalents at the beginning of the period
Cash and Cash equivalents at the end of the period
(l75)t
(175)
452,616,666
6,590,273,659
7,042,890,325
(39,832)
(39,832)
396,956,119
6,193,317,540
6,590,273,659
-0-91

24
Md. Mujibur Rahman

Director
4r`1-4

Director
Chairman
Annual Report 2009
Delta Life
STATEMENT OF LIFE INSURANCE FUND

Taka
ASSETS
Loan on Insurer's Policies within their surrender value
Investments
Agents' Balance
Outstanding Premium
Interest, Dividends & Rents accruing but not due
Advances & Deposits
Sundry Debtors
Cash & Bank Balances
Fixed Assets (at cost less depreciation)
363,915,863
7,548,289,274
3,656,785
918,571,266
517,141,067
466,299,442
60,646,576
7,042,890,325
572,191,203
9,331,582
17,502,933,383
LESS: LIABILITIES
Estimated liabilities in respect of outstanding claims, whether due or intimated
Amount due to other persons or bodies carrying on insurance business
Sundry Creditors
Premium Deposits
Dividend Equalisation Reserve
603,844,575
19,490,414
475,506,086
86,845,641
127,691,040
7,641,656
1,000,000
1,322,019,412
16,180,913,971
(45,000,000)
16,135,913,971
Gross Fund (Assets - Liabilities)

Shareholders' Capital (Paid-up Capital)
Life Insurance Fund as at December 31, 2009

Md. Mujibur Rahman

Director

Chairman
Director
25

Annual Report 2009
Delta Life
STATEMENT OF CHANGES IN STOCKHOLDERS! EQUITYI.
Particulars
Share
Capital
Balance as on
45,000,000
01 January 2009
Bonus Share
for the Year 2008
-
Balance as on

4
5,000,000
31 December 2009
General Retained Other

Reserve Earnings Reserve
Share
Premium
-
Total
45,000,000
-
45,000,000
-
-
-
_____________ ___________ ___________ _________ _____________
The annexed Notes 1 to 37 form an integral part of these financial statements. These financial statement
were approved by the Board of Directors on October 05, 2013 and were signed on its behalf by:

26
Md. Mujibur Rahman

Director
4r-4p.,

Chairman
Director
Annual Report 2009

Delta Life

Class of Assets
Market Value TakaI
OAN
363,915,863
363,915,863
Realisable Value
NVESTMENT
Statutory Deposit with Bangladesh Bank (NIB)
Shares Listed on Stock Exchanges
)ebentures and Bonds
Shareholding in DBH Finance Corp. Ltd
Mutual Fund
Central Depository Bangladesh Ltd.
Other Loans
2,000,000
5,136,935,206
2,156,686,678
29,012,191
50,000,000
61,500,000
2,000,000
110,155,199
2,000,000
5,136,935,206
3,302,174,731
29,012,191
50,000,000
61,500,000
2,000,000
110,155,199
At Cost
At Cost
Market Value
At Cost
Realisable Value
At Cost
Book Value
Realisable Value
ASH AND BANK BALANCES

On Fixed Deposit with Banks
On Current Account with Banks
On STD Account with Banks
iash in Hand
Cash in Transit
Collection in Hand
Branch Petty Cash
5,255,279,983
735,781,246
583,242,833
666,825
35,698,324
375,876,734
56,344,380
5,255,279,983
735,781,246
583,242,833
666,825
35,698,324
375,876,734
56,344,380
Book Value
Book Value
Book Value
Book Value
Realisable Value
Realisable Value
Realisable Value
3,656,785
3,656,785
918,571,266
918,571,266
517,141,067
517,141,067
466,299,442
466,299,442
60,646,576
60,646,576
572,191,203
572,191,203
9,331,582
9,331,582
17,502,933,383 18,648,421,436
Realisable Value
Realisable Value
Realisable Value
Realisable Value
Realisable Value
Carrying Value
At Cost
OTHER ACCOUNTS
Agents' Balance
Outstanding Premium
Interest, Dividends and Rents Accruing But Not Due
Advances And Deposits
Sundry Debtors
Fixed Assets (At Cost Less Depreciation)
1
Total
1ir,z

Md. Mujibur Rahman

Director

Chairman
Director
27
LI
Notes to the
Financial Statements

Annual Report 2009
Delta Life
Notes to The Financial Statements

F11
ME we
1.00 LEGAL STATUS AND NATURE OF BUSINESS

1.01
Establishment and status of the Company

Delta Life Insurance Company Ltd. was incorporated in Bangladesh in 10th November, 1986 as a
public Limited Company under the Companies Act. Its shares are quoted on the Dhaka Stock
Exchange and Chittagong Stock Exchange. The company started its business in December 1986.
1.02
Nature of business
The company is also registered with the Controller of Insurance / The Insurance Development and
Regulatory Authority (IDRA) in carrying on the business of life insurance. The company's life
insurance business comprises of Individual life for urban and suburban people, micro insurance in
the name of Gono-Grameen Bima (GN-GRB) for low income group with limited or no access to
financial instruments and Group business for conglomerates.
Most of the products are participating traditional while few products under individual life are
non-participating traditional. To enhance the benefits of the plans accidental and disability riders are
also offered.
2.00 BASIS OF PRESENTATION AND STATEMENT OF COMPLIANCE

2.01
Statement of Compliance
The following underlying assumptions, measurement base, laws, rules, regulations and accounting
pronouncements have been considered in preparing and presenting the financial statements:
Going Concern

Accrual unless stated otherwise except for Cash Flow Statement.

Historical cost convention

The Insurance Act 1938 / Rules 1958

Provisions of the Companies Act 1994
The Securities and Exchange (SE) Rules

The Listing Regulations of Dhaka and Chittagong Stock Exchanges

Income Tax Ordinance 1984
The Bangladesh Accounting Standards (BAS) 1, 2, 7, 8, 10, 12, 16, 19, 24, 34, & 37 which

have been adopted by the Institute of Chartered Accounts of Bangladesh (ICAB), and
Any other applicable laws, regulations, covenants and conventions etc.

In case requirements differ provision of Company's Act 1994, the Insurance Act/Rules and SE rules
1987 shall take precedence.
These financial statements have been prepared on the format of financial statements prescribed in
the Insurance Act/ Rules 1958 and SE rules 1987.
29
Annual Report 2009

Delta Life
2.02
The functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic
environment in which the company operates.
The financial statements are presented in Bangladeshi Taka, which is the company's functional and
presentation currency.
Figures in these financial statements have been rounded to the nearest Taka.
2.03
Use of Critical Accounting Estimates and Judgments

The preparation of financial statements in conformity with the accepted accounting principles and
standards require that the company's management make estimates and assumptions that affect the
reported amounts of income and expenses for the year and reported balances of assets and liabilities.
The estimates and assumptions used in the accompanying financial statements are based upon
management's evaluation of the relevant facts and circumstances of the date of financial statements.
Actual results could differ from the estimates. Any revision to the accounting estimate is recognized
prospectively.
2.04
Reporting period
The financial statements of the company covers one financial year from January 01 to December 31
of the calendar year and is followed consistently.
2.05 Components of the Financial Statements

The financial statements include the following components:

Balance Sheet

Life Revenue Account

Cash Flow Statement

Statement of Life Insurance Fund

Statement of changes in stockholders equity

Classified summary of the Assets (Form AA) and

Accounting Policies and Explanatory Notes.
3.00 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accounting policies adopted in the preparation of these financial statements are consistent with
those followed in the preparation of the company's financial statements for the year ended
December 31 2009.
3.01
Revenue Recognitions
All business is written in Bangladesh.
3.1.1
Individual life policies

Individual life first year, renewal, and single premiums are recognized once the related policies are
issued /renewed against receipt and realization of premium.
30

Annual Report 2009
Delta Life
However, Provision for outstanding premium for the accounting year is estimated on basis of
collection in the following three (3) months taking into consideration the nature and practice in life
insurance industry.
Uncollected premium from lapsed policies is not recognized as income until such policies are
revived.
3.1.2 Group Life and Health Policies
The premiums of Group policies are recorded after receipt of the premiums and in certain
circumstances premiums falling due under the policies within the financial period are also
recognized if these premiums are subsequently received.
3.1.3 Reserve for Unexpired Risk- Group Business
Gross premium proportionate to the unexpired duration of the period for which the respective
premiums have been billed and received are held as reserve for unexpired risk.
3.02
Interest, Dividends and Rents

Interest income is recognized on accrual basis (except project loan) unless otherwise stated.
Accretion of discount and amortization of premium in respect of debt securities and other fixed
income securities is amortized over the remaining period to maturity of such instruments on
straight line basis.
Realized gains and loses in respect of equity securities and units of mutual fund listed in the stock
exchange are calculated as the difference between the net sales proceeds and their costs using the
weighted average method.
Policy loans are allowed to the policy holders to the extent of surrender values of their respective
policies provided the policies are in force for not less than two years. Interest on policy loan is
accounted on accrual basis subject to the provisions of the Insurance Act/Rules.
Profit or loss on sale of securities/equities is taken to revenue only in the year of sale.
Income on debentures is recognized at prescribed rates except recovery is considered doubtful in
which case the income is recognized on a receipt basis.
Interest income on bank deposits (FDRs) is recognized on accrual basis.
Dividend income is accounted for when the dividend is received.
Interest and dividend are accounted at gross value (before deduction of Income Tax).
3.03
Provisions
A provision is recognized in the Balance Sheet date if, as a result of past events, the company has a
present legal or constructive obligation that can be estimated reliably, and it is probable that an
outflow of economic benefits will be required to settle the obligation.
31

Annual Report 2009
Delta Life
Provision has been made against the loans and advances with small prospect of recovery. Provisions
have not been made against advance for which legal cases instituted but remained pending for
decision.
3.04
Contingent Liabilities
Contingencies arising from claim, litigation, tax assessment, fines, penalties, etc. are recorded when
it is probable that the obligation has been incurred and the amount can reasonably be measured.
The Income Tax Department (DCT) has appealed to the High Court Division of Supreme Court in
December, 2007 against the orders (ITA 3145 of 2004-2005) (Assessment year 2003-2004) of
Appellate Tribunal dated 27/03/2005 and Commissioner of Taxes (CT) (Appeals) dated 26/12/2004
claiming that the Tribunal was not legally justified to uphold the order of the CT Appeals dated
26/12/2004 for deciding interest income (Tk. 1,70,000) on national investment bond (NIB) as
exempt income in the assessment of tax of the company for the assessment year 2003-2004.
The company has contended against the appeal of the DCT in that the Appellate Tribunal and CT
Appeals have allowed the income on NIB as exempt one in the assessment year 2003-2004 and such
income was also exempted from tax in previous years' tax assessment of the company.
As the case has not yet been settled and their exists uncertainties or timing of deciding the tax
liability of the company, if any, and the experts have advised that the company's grounds of
reasoning against the appeal are well supported in law in view of which the company could not
expect any further liability. (please refer to note 16.04).
There are no any other liabilities.
3.05 Premium deposit

Premium deposit represents premium received but risk has not yet been accepted because of
pending underwriting decision as on 31st December 2009.
3.06
Re-insurance
The company maintains risk premium Re-insurance with Munich-Re-insurance. Re-insurance
premium ceded is recognized on due basis in accordance and terms and conditions of re-insurance
treaties. A claim recovery from re-insurer is recognized at the same time as the claims are intimated
and recorded in the books of account of the company.
3.07
Claims costs
Claims costs consist of the policy benefit amount and claim settlement costs, where applicable.
Death and rider claims are accounted for on receipt of intimation.
Annuity benefits and Maturity benefits are accounted when due.
Surrenders are accounted for on the receipt of consent from the insured to the quote prescribed in
the policy deed provided by the company.
32
Annual Report 2009
Delta Life
Maturity claims also include amounts payable on lapsed policies which are accounted for on the date
of maturity of policies.
Re-insurance claims receivable are accounted for in the period in which claims are settled.
3.08
Investments
Investments are made in accordance with the provisions of the Insurance Act/Rules 1938/1958 and
the circulars/notifications issued by the Controller of Insurance! IDRA in this context from time
to time.
a) Classification of investment
Investments with fixed or determinable payments and fixed maturity, where the company has
positive intent and ability to maturity, are classified as Held-to-Maturity. Investments which are
intended to be held for an indefinite period but may be sold in response to the need for liquidity
or change in mark-up/ interest rates are classified as Available- For- Sale.
b) Valuation of investments
(i) Investment property
Investment property represents land or building held for investment purpose. Investment
property is valued at historical cost plus revaluation, if any.
Cost of investment property includes their acquisition cost and costs of various phases of
construction works including advance to contractors which have been completed at the
balance sheet date.
The construction works of office buildings on leasehold land at various places are in
progress, which has not been fully completed at Balance Sheet date and hence classified as
capital work in progress (CWIP) in the accounts.
(ii) Debt Securities
Debt securities with fixed income {Bangladesh Govt. Treasury Bond, National Investment
Bond (NIB), Private and Public Bonds and Debentures} are categorized by class and are
accounted for "held to maturity" and have been valued at cost. The discount in respect of
the debt securities which is the difference between the purchase price and the redemption
amount is amortized and recognized in the Revenue Account on straight line basis over the
remaining period to maturity of these securities. For fair presentation, premium, if any,
premium on acquisition of those bonds and debentures are however charged to Revenue in
the year of acquisition.
(iii) Shares listed in Stock Exchange
Listed equity shares and units of mutual fund are categorized as an asset class
"available-for-sale" and the asset is valued at the lower of their acquisition cost and the year
end (last) lowest quoted closing prices on the Stock Exchanges. Adequate provision is
however made for diminution if any, in the cost prices of such shares against such quoted
prices in the Stock Exchanges. If the quoted prices of this class of shares are higher than the
cost prices, no credit is taken to Revenue account.
33
Annual Report 2009

Delta Life
De-listed and OTC shares are also included in the class and valued at cost being nominal
amount (0.34%) of total investment portfolios in listed shares.
The equity investments and units of mutual fund that are quoted in active market are not
presented at fair value. Abnormal ups and downs have been going on in the market of
quoted shares and if the shares are measured at the fair value, the results of the financial
performance may be seriously misleading for the objective of financial performance.
Considering the circumstances and to reflect fair financial position of the company, the
principle of presenting the quoted share in market value has been departed for the time
being.
3.09
(iv)
Loans are valued at historical cost (less repayments), subject to provision for impairment, if
any.
(v)
All other investments are recognized at cost including their acquisition charges, if any, less
impairment, if any.
Fixed assets and Depreciation
Fixed assets are reported at cost less accumulated depreciation and impairment, if any. Cost includes
the purchase price and any cost directly attributable to bring the asset to its working condition for
its intended use. Fixed assets of small value and assets for which useful lives can not be estimated
properly are fully charged to the Revenue in the year of their purchases. Subsequent expenditures
incurred on existing fixed assets are expensed out except where such expenditure increases the future
economic benefits from the existing assets. Any addition to the original fixed asset is depreciated
over the useful life of the asset. Depreciation is charged on pro-rata basis from the month of
purchase and up to the previous month of sale. Methods and rates of providing depreciation are
consistently applied in relation to the previous year.
Capital works in progress (CWIP) is stated at cost less impairment, if any and consist of expenditure
incurred and advances made in respect of fixed assets in the course of their acquisition, erection,
construction and installation. The assets are transferred to relevant category of fixed asset when they
are available for use.
Gains! Losses on disposal of fixed asset are taken to revenue account.
Tangible Assets
The company has adopted the straight line method of depreciation so as to depreciate 100% of the
cost of the assets at rates in the following manner:

Furniture and Fixtures

Renovation

Computer Hardware & Software

Electrical Equipments

Vehicles
10%
20%
25%
20%
20%
In case of acquisition depreciation is calculated from purchasing month, and in case of disposal
depreciation is charged up to previous month of sale.
34

Annual Report 2009
Delta Life
Intangible Assets
Intangible Assets are reported at acquisition value with deductions for impairment losses, if any.
Intangible Asset comprises system software which is stated at cost of acquisition, including any cost
attributable for bringing the same to its working condition less accumulated amortization. This is
amortized over period of four (4) years. Any expenses on software for support and maintenance
payable annually are charged to Revenue Account.
Impairment of Assets
The carrying amounts of assets are reviewed at the Balance Sheet date if there is any indication of
impairment based on internal/external factors. An impairment loss, if any, is recognised wherever
carrying amount of an asset exceeds it's recoverable amounts.
Encumbrances:
There were no encumbrances on assets of the company as at the Balance Sheet date (previous year
Tk. nil).
3.10
Stamps, printing, stationary in hand

Stock of stamps, printing and stationary in hand etc. are valued at cost determined on average basis.
3.11 Policy on Doubtful Debts

Provision for doubtful debts has been provided as determined by the management.
3.12
Taxation
Current
Provision for taxation is based on taxable income determined under the Fourth Schedule of the
Income Tax Ordinance, 1984.
Charge for the current tax is calculated following the accepted method of income assessment and the
using tax rate enacted at the Balance Sheet date and includes adjustments, where considered
necessary, relating to prior years.
Deferred tax
Deferred tax is recognized using the Balance Sheet liability method on all temporary difference
arising between the carrying amounts of assets and liabilities for financial reporting purposes and
amounts used for taxation purpose.
Deferred tax is the effect of timing difference.
As the current tax has been measured using the rate, prescribed method of income assessment
(annual average surplus) and tax laws that have been substantially enacted by the Balance Sheet date
as per Income Tax Ordinance there is no possibility for arising any timing difference and thus
creating of deferred tax asset/ liability at this stage does not arise.
Further, sufficient tax refund due has been admitted by Tax authority in the previous years which
is virtually certain to reduce the future tax liabilities, if any, of the company.
35

Annual Report 2009
Delta Life
3.13
Risk Minimization Strategies

Underwriting procedures have been enhanced and rules have been structured to enable the
company to strike a balance between mitigating risk, ensuring control and providing better service.
The company seeks to reduce its risk exposure by reinsuring certain levels of risks with re-insurers.
The company continues to adopt a prudent policy in respect of Investments.
3.14 Commission
Commission to Insurance Agents (Less that received on re-insurance) represents first year
commission, renewal commission and Group commission.
Allowances and Commission (Other than Commission to Insurance Agents less that on
Re-insurance) represent Field Officers salary and allowances including bonuses.
3.15 Cash Flow Statement
Cash Flow Statement is prepared in accordance with BAS-7 and Cash Flow from operating activities
has been presented under direct method as outlined in the Securities and Exchange Rules 1987. For
the purpose of cash flow statement, cash and cash equivalents include the following:
j Cash at bank in current and STD accounts
Term deposits (FDRs) with commercial banks
j Cash in hand and in transit
3.16 Comparative information
Relevant comparative information has been disclosed in respect of the year for all numerical
information in the financial statements.
3.17 Dividend to Share holders
Dividends in cash and stock (bonus shares) to share holders are recognized in the period in which
they are approved.
3.18
General
The previous year's figures have been regrouped, rearranged and reclassified wherever necessary.
Amounts and other disclosures for the preceding year are included as an integral part of the current
financial statements and are to be read in relation to the amounts and other disclosures relating to
the current year.
Amounts presented have been rounded to the nearest taka. Figures in brackets ( ) indicate
deduction/negative balances.
M36

Annual Report 2009
Delta Life
2009
Taka
4.00 SHAREHOLDERS' CAPITAL
Authorised Capital
3,00,00,000 Ordinary Shares of Tk. 10 each
300,000,000
300,000,000
45,000,000
45,000,000
16,540,
28,459,950]
45,000,000
16,540,050
28,459
45,000,000
Issued, subscribed and paid-up capital

45,00,000 Ordinary Shares of Tk. 10 each.
Category of Shareholders

Sponsor

General Public
Share holding (%)

36.76

63.24
Number of non-resident shareholders

Number of shares held by non-resident shareholders
4.01
2008
Taka
1,914
Distribution Schedule of Paid-up Capital (as on record date July 16, 2013)
Category of Share Holders
Share Holding
No. of Share No. of Share Percentage

of Share
Holders
Sponsor
below 500
500-5000
5001-10000
10001- Above
Sub-total
3
39
8
33
83 1
525
109,275
59,430
1,484,775
1,654,0051
0.01
2.43
1.32
33.00
36.76
General Public
below 500
500-5000
5001-10000
10001 Above
Sub-total
1,502
273
27
29
1,831 1
1,914 1
181,080
371,475
183,390
2,110,050
2,845,9951
4,500,0001
4.02
8.26
4.08
46.89
63.24
100.00
Total
In the 7th EGM held on 17" November 2011, the Shareholders' of the Company approved the change of
present market lot of 5 (five) shares of Tk. 100 each to the lot of 50 (fifty) shares of Tk. 10 each.
5.00 LIFE INSURANCE FUND

Tk. 16,135,913,971
Balance at the beginning of the year
Add: Increase in Life Revenue Account during the year
Balance at the end of the year
13,424,726,552
2,711,187,419
16,135,913,971
11,986,629,415
1,438,097,137
13,424,726,552
37

Annual Report 2009
Delta Life

2009

Taka
6.00 ESTIMATED LIABILITIES IN

RESPECT OF OUTSTANDING
CLAIMS, WHETHER DUE OR
INTIMATED
2008
Taka
Tk. 603,844,575
a) Ordinary Life
Death Claim
Maturity Claim
Claim on Survival
b) Gono - Grameen Bima

Death Claim
Maturity Claim
Claim on Surrender
c) Group Insurance
d) Wage Earners
e) Health Insurance
7.00 AMOUNT DUE TO OTHER PERSONS OR

BODIES CARRYING ON INSURANCE BUSINESS
a) Munich Reinsurance Company
Tk. 475,506,086
8.00 SUNDRY CREDITORS
Commission Payable (Note-8.01)
Development Salary (Note-8.02)
Agents' License Fees (Note-8.03)
Insurance Policy Stamps (Note-8.04)
Tax and VAT Deducted at Source
Security Deposit (Note-8.05)
Welfare Fund
Incentive Bonus-Staff (Note-8.06)
Salaries & Allowances Payable (Staff)
Unpaid Dividend
Creditors for Expenses (Note-8.07)
Provident Fund (Note-8.08)
Group Insurance & Hospitalisation Insurance Premium
Provision for Income Tax (Note-8.09)
Interest Suspense Account (Note-8. 10)
Unidentified Deposit (Note-8.11)
LR.K Securites Ltd. *
51,006,274

109,949,639

211,670,189

372,626,102
12,396,101
152,968,653
L___ 1,737,009
167,101,763
41,128,409
7,692,000
15,296,301
603,844,575 -
31,126,000
97,49 1,222
211,341,2J
339,958,515
8,651,882
257,849,744
2,534,41J
269,036,042
30,829,580
7,892,000
5,811,619
653,527,756
19,490,414
18,290,661
303,425,151
24,036,894
5,443,614
4,508,000
99,972
22,646,478
47,425
25,644,531
901,055
881,533
16,409,648
2,929,060
35,071
38,563,596
17,055,209
5,810,754
7,068,095
475,506,086
248,944,154
18,486,681
5,028,690
4,100,000
828,761
14,114,741
47,425
26,460,627
1,823,213
881,708
15,475,782
2,752,332
9,189
38,563,596
14,086,205
5,834,000
371,022
397,808,126
* This represents current account balance with the brokerage house at the end of routine and normal
investment activities in listed shares.
38
Annual Report 2009

Delta Life
2009
Taka
8.01
Commissions payable
303,425,151
2008
Taka
248,944,154
This represents the provision of commissions payable to OL and GN-GRB's agents and different
level of development officers which were due in December 2009 against first year and renewal
business. These were subsequently paid.
8.02
Development Salary
24,036,894
18,486,681
This represents provision of salary, performance and production bonus payable to GN-GRB
development officers (other than agents). These were paid subsequently.
8.03
Agents' License Fees
5,443,614
5,028,690
This represents amounts received from various development staff for agent's licenses fees which
were under process and deposited gradually to the IDRA.
8.04
Insurance Policy Stamps
4,508,000
4,100,000
This represents provision for expenses relating to policy stamps required to be affixed on the
unissued policies.
8.05
Security Deposit
Tk. 22,646,478
Courier
Printing Materials
Stationery Suppliers
Car Repairs (Garage)
Contractor's (Construction for office buildings)
Computer Hardware & Software Suppliers
Staff (Employment related))
Others
8.06
Incentive Bonus (Staff)
54,720
407,200
4,000
150,100
17,929,192
108,125
3,933,551
59,590]
22,646,478
54,720
412,000
4,000
175,100
9,307,960
188,125
3,903,246
69,590
14,114,741
25,644,531
26,460,627
This represents provision of yearly incentive bonus payable to the employees' of the company on
the basis of the yearly operation results. This was paid subsequently.
39
Annual Report 2009
Delta Life

2009

Taka
2008
Taka
Tk. 16,409,648
8.07 Creditors for Expenses
Printing and stationery

Office Rent
Prize and awards
Conference
Telephone Bill
Electricity Bill
Postage and Courier
Travelling and Conveyance
Car Fuel & Maintenance
Photostat
Unit Office Expenses
Bank Charges
Entertainment
Legal Expenses
Office Maintenance
Papers and Periodicals
Others
1,550,513
1,153,787
3,703,182
3,656,260
126,467
464,528
65,859
345,873
442,743
663
1,235,334
27,223
1,143
3,838
25,646
1,080
3,605,509
16,409,648
1,047,872
881,900
3,811,980
4,360,872
83,794
449,928
50,650
269,970
640,056
4,321
1,135,488
54,351
2,235
66,242
1,368
2,614,755
15,475,782
This represents various expenses incurred by the Company in the ordinary course of business
exclusively for the purpose of its operation and have been paid subsequently.
8.08 Provident Fund
2,929,060
2,752,332
This represents company's and employees' contribution to PF (Provident Fund Trust) for the
month of December 2009 which was subsequently paid.
8.09 Provision for Income Tax

Add: Provision for Income Tax - Current year
Tk. 38,563,596
38,563,596
38,563,596
12
^563,596
38,563,596
Provision for income tax has been made as required under the Income Tax Ordinance 1984.
Assessment of income tax of the company has been finalized up to Financial Year (FY) 2003 with
the exception of Financial Year (FY) 2001 for which assessment has become time barred (Note
no-3.04).
40

Annual Report 2009
Delta Life
8.10
Interest Suspense Account
2009

Taka
2008
Taka

16,607,419

447,790

17,055,209
13,638,415
447,790
14,086,205
Tk. 17,055,209

Overdue Interest on Home Loan Insurance Scheme

Debenture Interest Receivable from Beximco Denims Ltd.
Interest accrued and overdue from loanees under Home Loan insurance scheme related to the period
after legal actions were instituted against those loanees has been credited to Interest Suspense
Account.
Overdue debenture Interest receivable from the Beximco Denims Ltd. from FY 2003 but not yet
received has been also credited to this Account.
8.11
Unidentified Deposits
Tk. 5,810,754

Adjustments/ reconciled
Additions
5,834,000
(3,079,716)
3,056,470
5,810,754
5,400,417
(2,262,540)
2,696,123
5,834,000
These represent deposits to company's various bank accounts which could not be reconciled and
hence remained unidentified at year end due to lack of proper documents from banks. For fair
representation, the balance in the account aged more than three (3) years are credited to the Revenue
Account but proper records are kept for audit-trail and any subsequent adjustment, if any.
9.00 PROVISION FOR DOUBTFUL DEBTS

Advance incentive bonus (Development)
Project loan
Motor car, cycle and bicycle Loan
Branch collection account
Other receivables
Advance Salary
Advance to agents
Tk. 86,845,641
10.00 PREMIUM DEPOSITS
Tk. 7,641,656
Ordinary Life - 1st year

Ordinary Life - Renewal
GN-GRB
Group Insurance
7,883,100
62,944,234
3,025,408
3,510,957
3,315,996
576,844
5,589,102
86,845,641
1,294, 146
2,105,406
4,172,104
70,000
7,641,656
7,883,100
40,657,370
3,024,311
3,601,639
3,706,833
5,374,831
64,248,084
1,217,064
2,060,210
4,083,159
7,360,433
This represents payments made by policyholders awaiting adjustment against the policy premiums.
41

Annual Report 2009
Delta Life
2008
Taka
2009

Taka
Tk. 363,915,863
11.00 LOAN

Opening balance
Add: Loan disbursement during the Year (Note 11.01)
Less: Loan recovery of loan during the year (Note 11.02)
Balance as at December 31st
11.01 Loan disbursement during the year
118,488,959

9,366,711

127,855,670
104,613,114
12,377,530
116,990,644

(74,157,733)
L (14,846,461)
(89,004,194)
(66,258,159)
(20,066,946)
(86,325,105)
Tk. 7,548,289,274
Government Securities (Note-12.01)

Mutual Fund (Note-12.02)
Shares Listed on Stock Exchanges (Note-12.03)
Debentures and Bonds (Note-12.04)
Other Investment (Note-12.05)
Other Loans (Note-12.06)
42
294,398,848
116,990,644
(86,325,105)
325,064,387
Tk. (89,004,194)

Ordinary Life (OL)

Gono-Grameen Bima (GN-GRB)
12.00 INVESTMENT (AT COST)
'o64,38T
7,855,670
^
F_^^ 9,004,194)
363,915,863
Tk. 127,855,670

Ordinary Life (OL)

11.02 Loan recovery during the year
32
5,138,935,206
61,500,000
2,156,686,678
29,012,191
52,000,000
110,155,199
7,548,289,274
4,164,604,438
702,352,025
459,973,962
52,000,000
113,912,493
5,492,842,918

Annual Report 2009
Delta Life

2009

Taka
12.01 Government Securities
2008
Taka
Tk. 5,138,935,206
Statutory Deposit with Bangladesh Bank (NIB):

The amount represents investment made under statutory
requirements which is made up as follows:
_
2,000,000
2,000,000
___
2,000,000
2,000,000
The above amount is invested in 3-year National Investment Bond and deposited with Bangladesh
Bank as Statutory Deposit as per provisions of the Insurance Act 1938.

12.02 Mutual Fund

DBH 1' Mutual Fund

Trust Bank Vt Mutual Fund
5,136,935,206
4,162,604,438
5,138,935,206
4,164,604,438
1k. 61,500,000
60,000,000
1,500,000
61,500,000
43
Annual Report 2009
Delta Life

2009

Taka
12.03 Shares Listed on Stock Exchanges
SL
Name of the
Instution
Mutual Fund
1 1STBSRS
2 1STPRIMFMF
3 AIMS1STMF
4 EBL1STMF
5 GRAMEEN1
6 IGRAMEENS2
7 ALARABANK
8 BANKASIA
9 BRACBANK
10 CITYBANK
11 DHAKABANK
12 DUTCI-IBANGL
13 EBL
14 EXIMBANK
15 ICBIBANK
16 ISLAMIBANK
17 JAMUNABANK
18 MERCANBANK
19 MTBL
20 NBL
21 NCCBANK
22 ONEBANKLTD
23 PREMIERBAN
24 PRIMEBANK
25 PUBALIBANK
26 RUPALIBANK
27 SHAHJABANK
28 SIBL
29 SOUTHEASTB
30 STANDBANKL
31 TRUSTBANK
32 IUTTARABANK
44
Bank & Leasings
Face
Value
Per
100
10
1
10
10
10
10
10
100
100
10
100
10
10
100
100
10
100
100
10
10
100
10
10
10
100
10
10
100
100
100
10
2,156,686,678
No.of Average Book Value at

Cost (Taka) as
Cost
Unit
at 31.12.2009
Per Unit
1500
409000
1220000
164000
270500
701500
59
27338
81300
26850
28334
150
218341
20106
16875
124492
35000
69371
303891
49640
38693
43977
9029
54400
582945
9900
27767
31871
24490
25380
41656
18015
97.85
45.01
6.21
30.44
87.05
51.27
42.36
363.12
606.37
471.64
392.30
2,670.40
456.70
119.30
960.97
457.30
328.90
264.53
231.57
477.35
223.70
234.15
253.41
463.08
205.52
877.16
235.88
233.06
248.00
220.55
414.65
711.87
146,779
18,410,439
7,574,170
4,991,979
23,546,400
35,968,435
2,499
9,927,018
49,298,071
12,663,412
11,115,304
400,560
9,971,482
2,398,741
16,216,325
56,930,326
11,511,506
18,350,566
7,037,305
23,695,678
8,655,663
10,297,241
2,288,033
25,191,303
119,806,425
8,683,913
6,549,747
7,427,893
6,073,443
5,597,571
17,272,486
12,824,422
2008
Taka
702,352,025
Market Value
(Taka) as at
31.12.2009
2,107,500
8,425,400
8,491,200
2,099,200
19,908,800
14,450,900
2,578
12,930,874
36,503,700
16,559,738
1,184,361
195,488
1,128,818
910,802
217,688
76,531,457
1,337,000
21,088,784
10,970,429
2,844,372
1,404,556
21,548,730
327,753
2,214,080
28,972,367
14,842,575
1,382,797
895,575
7,328,633
9,942,615
19,849,084
1,271,859
Annual Report 2009
Delta Life

Cost (Taka) as
Cost
Unit
at 31.12.2009
Per Unit
Face
Value
SL
Per
Pheramacuticals & Chemical
Name of the
Instution
33 ACT
34 ACIFORMULA
138100
10
10 2564401
35 BERGERPBL
36 BXPHARMA
10 101000
100 488690
37 GLAXOSMITH
38 IMAMBUTTON
10
100
39 KEYACOSMET
40 KEYADETERG
41 MARICO
42 ORIONINFU
43 PHARMACO
44 RECKITTBEN
45 RENATA
46 SQURPHARMA
Engineering
95750
1850
201.03
27,762,099 -
35,685,040
168.55
263.36
43,224,009
27,849,384
65,569,200
123.53
365.32
95500
10
10 410940
48.45
34.29
4,626,611
10
500
100
1780
325.64
169.89
54.43
200
250.42
25000
652 3,113.13
65591 2,000.42
100 143716
10800
10
403.10
808.41
49 JECABLES
100
10
100
12235
1000
415
7487
347.85
41.30
52 MARKBD
53 NAVANACNG
54 NTLTUBES
55 OLYMPIC
56 QSMDRYCELL
57 RANFOUNDRY
58 SALAMCRST
59 SINGERBD
Information & Technology
60 AGNTSYSL
61 BDCOM
62 DAFODILCOM
63 INTECH
64 TSNLTD
1
Tannery
65 APEXADELFT
66 APEXTANRY
67 BATASHOE
68 PARAGON
34,979,783
362,584
47 1ATLASBANG
48 JBSRMSTEEL
50 GOLDENSON
51 KAY&QUE
26,598,877
60,367,542
195.99
100
10
10
1001
100
10
100
100
242.42
29.33
196.49
54800
4515 1,190.81
705.65
2000
10
10
100
100
71.61
35000
73.12
4000
692.98
71000
12720 1,183.60
10 124084
16500
10
35000
10
64650
10
101 1370001
10
100
25520
100
10 101000
10235
1001
Market Value
(Taka) as at
31.12.2009
65.45
51.34
77.91
43.93
41.72 L
-
248.74
289.43
37.04
14,091,828
162,818
302,413
10,885
76,137,902
85,485,600
705,313
9,588,200
33,779,268
310,550
1,239,770
24,250
24,165,000
6,260,409
2,029,763
131,209,540
7,951,466
209,940,393
57,932,329
44,666,933
8,730,831
4,255,889
41,295
100,603
219,574
17,045,100
7,347,118
92,500
168,283
127,279
10,767,574
5,376,501
1,411,299
2,506,454
292,477
49,201,348
15,055,329
8,532,360
4,858,140
3,481,500
3,689,000
379,200
39,316,250
88,028,760
8,120,802
847,054
2,726,912
2,840,150
5,715,715
6,154,566
745,800
1,039,500
2,023,545
4,849,800
-
6,347,777
29,232,540
379,102
28,493
35,090,000
59,054,700
163,760
45
Annual Report 2009

Delta Life
Face
Name of the
SL
Value
Instution
Per
Textile
69 ANLIMAYARN
100
70 APEXSPINN
100
76
5960
71 APEXWEAV
72 BEXTEX
10
1012
87.47
287.91
202.90
210970
9693
50.72
104.49
74 CMCKAMAL
75 DACCADYE
10
100
10
10
10582
100.00
83500
76 DELTASPINN
100
77 DULAMIACOT
100
78 DYNAMICTEX
79 MAKSONSPIN
80 METROSPIN
81 MHOSSAIN
82 MITATEX
83 MONNOFABR
84 PRIMETEX
100
60
270
105140
10
39000
10
100
100
75300
19800
22440
2000
13500
300
620
300091
73 BXSYNTH
85 QSMSILK
86 SAIHAMTEX
87 SQUARETEXT
88 STYLECRAFT
Food & Allied
89 AMCL(PRAN)
90 BATBC
91 BIONICFOOD
92 CTGVEG
93 MEGCONMILK
94 MEGHNAVEG
95 MONAFOOD
Fuel & Power
96 BDWELDING
97 BOG
98 DESCO
99 EASTRNLUB
100 JAMUNAOIL
101 MPETROLEUM
102 PADMAOIL
103 POWERGRID
104 SUMITPOWER
105 TITASGAS
M46

Cost
Cost (Taka) as
Unit
Per Unit
at 31.12.2009
100
100
10
10
10
100
20
Market Value
(Taka) as at
31.12.2009
6,648
29,621
1,715,932
13,083,690
155,848
205,337
10,701,188
1,012,778
13,248,916
56.94
1,058,200
4,754,247
895,237
5,961,900
78.62
4,717
31,635
85.30
38.00
71.41
23,030
73,643
5,493,565
2,176,200
5,067,690
35.71
35.06
53.70
104.45
3,995,448
2,784,947
2,688,815
694,108
1,204,939
208,904
4,347,069
322.01
4.26
73.82
75.43
1,429.30
1,279
45,767
22,635,529
1,041.49
215.60
1.90
26,925,537
37,590,169
1,903
49.99
28,586
4,732,607
688,050
1,385,670
155,000
8,133,750
3,630
54,870
51,375,579
110,465
100
10
10
100
10
25853
174350
370
7000
28.14
18,496
196,984
100
100
5300
5000
64.46
27.98
341,644
139,885
176,225
275,000
100
100
100
10
65500
203887
9502
58.94
236.19
1,322.74
4,670,150
124,432,236
16,193,784
17650
441.47
3,860,731
48,155,583
12,568,697
7,791,928
10
10
22300
92430
101
100
51560
79300
42174
142700
376.84
246.27
697.42
22,762,624
35,959,055
660.47
925.50
663.17
52,375,233
39,032,165
94,634,420
10
100
1000
8,403,536
34,920,940
109,718,455
6,400
1,300,550
392,700
10,053,440
5,927,340
17,986,878
35,406,252
60,168,875
4,871,097
113,375,150

Annual Report 2009
Delta Life
Face
Value
Per
Name of the
SL
Instution
_____ _________________
Financ a! Institution
106 DBH
107 FLEASEINT
108 ICB
109 ICB1STNRB
110 ICB2NDNRB
111 ICBAMCL1ST
112 ICBAMCL2ND
113 ICBISLAMIC
114 IDLC
115 ILFSL
116 IPDC
117 LANKABAFIN
118 MIDASFIN
119 PLFSL
120 PREMIERLEA
121 PRIMEFIN
122 ULC
123 UNIONCAP
124 UTTARAFIN

Cost
Cost (Taka) as
Unit
at 31.12.2009
Per Unit
Market Value
(Taka) as at
31.12.2009
462,825,000
3,129,956
15,632,280
412,750
2,045,838
5,602,100
4,787,625
1,660,875
3,490,104
2,964,850
11,640,148
22.737,000
12,438,548
536,967
5,842,706
1,760,948
18,338,661
1,516,200
2,126,016
272250
3306
5020
1000
11350
10600
37550
5150
1488
2150
26365
97500
11010
2024
7925
8540
14058
7000
8321
-
236.54
38.84
407.57
191.45
200.17
185.08
145.81
686.99
581.76
360.56
260.19
370.28
255.33
174.86
816.31
591.74
87.93
435.85
-
782,006
194,993
407,570
2,172,962
2,121,804
6,949,904
750,903
1,022,237
1,250,781
9,506,112
25,368,066
4,076,785
516,785
1,385,782
6,971,284
8,318,656
615,502
3,626,687
10
3650
10
3068
12979
100
100 1354059
10
7750
6250
100
132.91
243.62
1,289.32
99.99
409.00
235.62
485,112
747,416
16,734,147
135,393,190
3,169,749
1,472,639
4,457,563
767,000
38,823,434
509,803,214
2,036,700
1,629,688
100
100
100
100
100
100
100
100
100
100
100
10
100
10
100
10
100
10
10
Cement
125 ARAMITCEM
126 CONFIDCEM
127 HEIDELBCEM
128 LAFSURCEML
129 MEGHNACEM
130 INILOYCEM
1
1
Ceramic
131 BENGALFINE
132 FUWANGCER
133 MONNOCERA
134 SPCERAMICS
Miscel aneous
135 ARAMIT
136 BEXIMCO
137 GQBALLPEN
138 MIRACLEIND
139 SINOBANGLA
140 USMANIAGL
Insurance
141 ASIAINS
142 ASIAPACINS
143 BGIC
144 EASTERNINS
145 EASTLAND
146 FAREASTLIF
147 FEDERALINS
148 GLOBALINS
149 GREENDELT
150 JANATAINS
10
100
100
10
2600
800
4655
428780
110.20
174.52
305.57
84.50
286,514
139,612
1,422,421
36,230,286
169,000
365,600
3,648,356
39,061,858
100
10
10
10
10
100
12600
120754
10300
124527
68000
9566
229.12
154.90
213.54
34.21
33.33
1,318.44
2,886,871
18,704,237
2,199,419
4,260,278
2,266,378
12,612,198
4,730,040
35,465,450
1,857,090
4,470,519
4,658,000
12,921,275
100
10
10
100
100
10
10
100
10
100
14850
17650
41980
11940
10638
6591
58
10790
84786
1218
558.33
388.09
445.25
705.27
439.28
1,660.80
25.43
356.61
1,180.72
163.58
8,291,242
6,849,801
18,691,785
8,420,958
4,673,086
10,946,355
1,475
3,847,822
100,108,261
199,235
1,153,845
11,516,625
2,611,156
11,331,060
10,494,387
2,178,985
9,616
7,523,328
21,493,251
1,888,814
47

Annual Report 2009
Delta Life
2009
Taka
Face
Value
Per
Name of the
T
instution
SL
10
10
100
100
100
10
10
100
100
100
10
100
10
10
100
151 KARNAPHULI
152 MEGHNALIFE
153 MERCINS
154 NATLIFEINS
155 NORTHRNINS
156 PEOPLESINS
157 PHENIXINS
158 PIONEERINS
159 PRAGATIINS
160 PRAGATILIF
161 PRIMELIFE
162 RELIANCINS
163 RUPALTINS
164 ISANDHANINS
165 JUNITEDINS
2008
Taka
Market Value
(Taka) as at
31.12.2009
439,175
1,156,199
8,086,650
5,710,141
5,766,425
1,871,565
254,482
5,010,938
16,285,440
3,019,275
3,348,485
26,813,825
141
195,871
1,325,610

Cost (Taka) as
Cost
nit
Per Unit
at 31.12.2009
2,951,617
5476
539.01
2,114,587
3363
628.78
1,373,681
162.57
8450
916,331
1045
876.87
3,192,476
8300
384.64
26323
774.19
20,379,011
138.42
294,286
2126
1,213,122
3750
323.50
15,886,470
15360
1,034.28
900
682.71
614,441
10150
1,785.73
18,125,165
9,665,189
19122
505.45
-
1
-
534
215.89
115,286
1,165,199
990
1,176,97
Services
166 Eastern Housing Ltd.

167 SAMORITA
168 SAPORTL
Corporate Bond
169 I IBBLPBOND
100
100
10
1000
103
11440
1000 1
4305 1
101
111600 1
197.33
225.82
1,222.87
893,500
123,935
1,567,280
197,330
23,259
13,989,608
991.87 1
4,270,003
4,260,864
Telecom
170 IGP
Total:
173.19
19,328,402
1 2,156,686,678
Book value at cost has been divided by the number of unit.

12.04 Debentures and Bonds
No.
Name of the Debentures and Bonds
29,012,191
18,224,280
3,324,825,181
459,973,962
Face
Total Book
Value Per
No. of Unit
Value At Cost
Debenture
1.00 Beximco Fisheries
3,000
100
138,962
2.00 Beximco Denims Ltd.
2,500
4,000
8,645,580
3.00 Aramit Cement
2,500
640
228,800
N/A
19,998,849
4.00 ACT Zero Cupon Bond

Total
N/A
29,012,191
Si. No.
1.00: Procured in 1995. Defaulted in payment as per schedule and necessary legal action has been taken. Recheduled"
1.00: Procured in 1995. Defaulted in payment as per schedule and necessary legal action has been taken. Recheduled
2.00: Procured in 1995. Defaulted in payment as per schedule and necessary legal action has been taken. Recheduled
3.00: Public 20% convertible, 14% per annum.
4.00: Private placement: 14.50% per annum.
48

Annual Report 2009
Delta Life

2009

Taka
12.05 Other Investment
Tk. 52,000,000
Share of Shareholding in Delta Brac Housing
Finance Corp.Ltd. (Private)
Share of Central Depository Bangladesh Ltd. (Private)
12.06 Other Loans
Home Loan Insurance Scheme (HLIS)

Project Loan (GN-GRB)
2008
Taka

50,000,000

2,000,000

52,000,000
50,000,000
2,000,000
52,000,000
1k. 110,155,199

13.00 OUTSTANDING PREMIUM
46,900,000

63,255,199

110,155,199
45,700,000
68,212,493
113,912,493
852, 140,854
26,378,618
7,114,102
32,937,692
918,571,266
759,444,612
16,044,976
7,417,177
47,894,01
830,801,396
Tk. 918,571,266
Ordinary Life (OL)

Group Insurance (GI)
Health Insurance (HI)
The amount represents premium receivable as on December 31st, 2009 for which grace periods did
not expire as on the above date. Most of the outstanding premium amounts have been realized
subsequently.
14.00 INTEREST, DIVIDENDS & RENTS

ACCRUING BUT NOT DUE
Fixed Deposit with Banks
Home Loan Insurance Scheme
Interest on Debentures & Bonds
Dividend on Share
Interest on Policy and Project Loan.
Statutory Deposit with Bangladesh Bank
Tk. 517,141,067
134,439,204
303,790,457
30,494,846
5,201,115
10,161,190
32,626,693
427,562
517,141,067
110,798,046
377,681,356
27,305,757
8,366,948
8,050,246
29,835,100
257,562
562,295,015
49
Wik
Annual Report 2009
Delta Life

2009

Taka
Tk. 466,299,442
15.00 ADVANCES AND DEPOSITS
Advance Office Rent
Advance Income Tax (AlT) (Note-15.01)
Security Deposit
Motor Cycle, Bicycles Loan
Advance Against Incentive Bonus (Dev.) (Note-15.02)
Other Advances (Note-15.03)
2008
Taka
9,537,906
445,989,545
816,100
912,451
7,883,100
1,160,340
466,299,442
8,316,206
356,537,371
666,100
1,315,982
7,883,100
2,853,252
377,572,011

Add: Addition during the year
356,537,371
89,452, 174J
445,989,545
273,934,214
82,603,157
356,537,371
Adjustment during the year

445,989,545
356,537,371
15.01 Advance Income Tax (AlT)
Tk. 445,989,545
15.02 Advance Against Incentive Bonus (Development)
7,883,100
7,883,100
Advance against incentive bonus (Development) of Tk. 7,883,100 represents money withdrawn
from the company for payment of incentive bonus to the development officials of Gono -Grameen
Bima, which was not paid to the respective development officials. This amount has been brought
forward from the account of 1998 and has been fully provided for in the account. (Please refer to
note 9)
15.03 Other Advances
1,160,340
2,853,252
Others Advances include advances against staff salary and various expenses which have been adjusted
subsequently.
16.00 SUNDRY DEBTORS
Motor Car & Cycle Loan (Note-16.01)
Bicycle Loan (Note-16.02)
Project Loan
Branch Collection Account (Note-16.03)
Income Tax Refund due (Note-16.04)
Other Receivables (Note-16.05)
Tk. 60,646,576
1,964,258
927,788
434,854
3,510,957
42,382,121
11,426,598
60,646,576
2,037,942
927,788
434,854
3,601,639
42,382,121
11,495,797
60,880,141
Adequate provision has been made against project loan (GN-GRB), branch collection account, motor car &
motor cycle loan, bicycle loan and other receivables (Please refer to note 9).
50
Annual Report 2009
Delta Life

2009

Taka
16.01 Motor Car & Cycle Loan
2008
Taka
2,037,942
1,964,258
This represents the long outstanding of motor cycle and car loan lying with the development
personnel.
927,788
927,788
16.02 Bicycle Loan
This represents the long outstanding of bi cycle and car loan of the insurance agents of GN-GRB.
3,601,639
3,510,957
16.03 Branch Collection Account
This represents the money receivable from various insurance agents at unit level offices of GN-GRB.
42,382,121
42,382,121
16.04 Income Tax Refund Due
This represents net income tax refundable to the company for the assessment years from 1996-1997
to 2001-2002 & 2003-2004 to 2004-2005 as per tax assessment orders by the Income Tax Department.
The assessment of the income tax of the company for the assessment year 2004-05 has been
completed and the necessary adjustments have been effected in the accounts. The company filed tax
return for the year 2002-2003 FY 2001 with loss and the tax return has been barred by limitation of
time. Regarding tax assessment for year 2003-2004, The Income Tax Department has assessed the tax
liability of the company giving tax refund which have been duly accounted for in the accounts. Later
on The Income Tax Department PCT) has appealed to the High Court Division of the Supreme
Court against the order of the Appellate Tribunal for allowing the interest income on national
investment bond (NIB) as exempt income in the tax assessment of the company for 2003-2004. The
case is still pending in court (Please refer to note 3.04).
16.05 Other Receivables

Re-insurance (Profit Commission) *
Sundry Advance
Others **
Tk. 11,426,598
6,366,139
1,674,683
3,385,776
11,426,598
6,607,680
1,503,101
3,385,0J
11,495,797
* Subsequently adjusted.
This represent money lying with development staff against advance allowances, abuse of
company's money for purchase of furniture and electrical equipments etc. of unit level offices of
GN-GRB and have been brought forward from the account of FY 1999. The amounts have been
fully provided in the accounts (Please refer to note 9).
51

Annual Report 2009
Delta Life
17.00 BANK BALANCES

2009

Taka
Tk. 6,574,304,062

On Fixed Deposit with Banks (Note-17.01)

On Current Account with Banks (Note-17.02)

On STD Account with Banks (Note-17.03)
17.01 On Fixed Deposit with Banks

Bank Asia Ltd.
DBH Finance Corp. Ltd
Exim Bank Ltd.
First Security Bank Ltd.
Mutual Trust Bank Ltd.
National Bank of Pakistan
Premier Bank Ltd.
Southeast Bank Ltd.
Standard Bank Ltd.
Brac Bank
Prime Bank Ltd.
Dhaka Bank Ltd.
Dutch Bangla Bank Ltd.
Jamuna Bank Ltd.
NCC Bank Ltd.
One Bank Ltd.
Shahjalal Islami Bank Ltd.
State Bank of India
Bank Alfalah Ltd.
Eastern Bank Ltd.
IDLC of Bangladesh Ltd.
IPDC of Bangladesh Ltd.
Pheonix Leasing Co. Ltd.
Prime Finance Ltd.
United Leasing Company Ltd.
Midas Financing Ltd.
Pubali Bank Ltd.
AB Bank Ltd.
M52
2008
Taka

5,255,279,983

735,781,246

583,242,833

6,574,304,062
5,489,618,938
246,335,009
497,627,688
6,233,581,635
Tk. 5,255,279,983
19,738,681
923,544,256
338,921,681
232,276,844
67,573,381
615,676,748
25,000,000
507,902,622
142,856,273
146,783,156
162,045,496
225,420,503
30,847,500
400,441,827
31,181,750
93,996,452
62,635,776
147,388,293
361,208,580
54,162,175
326,813,901
266,569,088
52,295,000
20
5,255,279,983
154,316,950
524,063,063
225,016,556
94,020,472
263,147,251
745,319,462
575,139,695
103,858,963
13 1,238,875
10,000,000
856,229,661
26,055,474
30,847,500
105,965,687
10,000,000
258,644,565
160,066,549
103,000,000
140,673,050
366,954,048
12,577,420
59,725,670
210,258,027
20,000,000
302,500,000
5,489,618,938
Annual Report 2009
Delta Life

2009

Taka
17.02 On Current Account with Banks
Tk. 735,781,246
Hongkong & Shanghai Banking Corporation

Bangladesh Krishi Bank
Pubali Bank Ltd.
Rajshahi Krishi Unnyan Bank
Uttara Bank Ltd.
National Bank Ltd.
Citibank N.A.
Sonali Bank Ltd.
Janata Bank Ltd.
Agrani Bank Ltd.
Rupali Bank Ltd.
Islami Bank-Bangladesh Ltd.
Bank Asia Limited
Trust Bank Limited
17.03 On STD Account with Banks

Hongkong & Shanghai Banking Corporation
Dutch Bangla Bank Ltd.
Bangladesh Krishi Bank
Pubali Bank Ltd.
Rajshahi Krishi Unnyan Bank
Uttara Bank Ltd.
The City Bank Ltd.
National Bank Ltd.
Premier Bank Ltd.
Agrani Bank Ltd.
Sonali Bank Ltd.
Janata Bank Ltd.
Rupali Bank Ltd.
Citibank N.A.
Islami Bank Bangladesh Ltd.
Dhaka Bank Ltd.
Mercantile Bank Limited
18.00 COLLECTION IN HAND
2008
Taka
30,900,000
158,474,878
12,433,211
41,099,990
89,637
46,119
8,575
253
2,880
3,276,966
1,500
1,000
468,708,999
206,686,068
12,616,518
41,398,764
1,308,032
45,139
341,953
(803)
4,477
4,662,909
5,900
1,500
1,000
790
735,781,246
246,335,009
10,280,671
19,876,544
26,040,658
377,111,456
92,509,147
29,731,510
63,637
115,634
651
3,514,775
1,773,244
5,476,163
6,915,641
6,703,261
2,371,873
28,188
729,780
583,242,833
31,914,827
1,644,501
19,541,539
293,394,113
104,109,478
19,085,808
61,679
113,933
1,785
2,294,631
1,367,469
7,011,848
6,333,487
6,729,114
3,133,038
28,917
861,521
497,627,688
375,876,734
293,128,849
Tk. 583,242,833
Collection in hand represents first year premium outstanding as at 31st December for which
proposals await for underwriting at different Service Centers. The premiums were received
subsequently in full and the policies were issued with commencement date prior to 31st December.
53

Annual Report 2009
Delta Life

2009

Taka
19.00 FIXED ASSETS (Annexure-A)
Tk. 572,191,203
Cost
Land
Capital Work- In- Progress (Building) (Note-19.01)
Furniture & Fixture
Renovation
Computer Hardware & Software
Electrical Equipment
Vehicles
Total Cost
Accumulated depreciation at the end of the year
Carrying Value at the end of the year
19.01 Capital Work In Progress (CWIP)
Particulars
A.Contractors Bills- Balance b/fwd

Add: Bills paid and adjusted
Sub Total (A) balance . c/fwd

B.Advance- Opening balance (b/fwd)
Less: Adjusted during the year
Add: Paid during the year
Sub Total (B) balance - c/fwd

Total (A+ B)
128,118,577
368,000,432
71,897,238
3,221,830
36,633,879
45,341,564
116,516,547
769,730,067
(197,538,864)
572,191,203
2008
Taka
128,118,577
245,369,837
70,126,093
2,875,952
28,839,207
43,764,934
97,973,880
617,068,480
(174,366,031)
442,702,449
Tk. 368,000,432
Corporate Office
Building
(Guishan)
Khulna
Bogra Office
Office
. .
Building
Building
Amount in Taka
194,732,582
3,259,453
433,736
47,059,590
40,601,975
639,406
241,792,172
43,861,428
1,073,142
-
46,944,066
-
-
(28,533,605)
(4,745,630)
30,654,227
36,854,632
100,000
49,064,688
32,109,002
100,000
290,856,860
1,173,142
75,970,430
Total
198,425,771
88,300,971
286,726,742
46,944,066
(33,279,235)
67,608,859
81,273,690
368,000,432
This represents expense incurred for office buildings under construction at various places. The break
up of the figure is as above
20.00 ADJUSTMENTS MADE DURING
THE YEAR
Reserve for unexpired risk
Claim provision
Debtors
Premium
Commission
Insurance Policy Stamp
Performance Bonus
Incentive Bonus
Sundry expenses provision
Tk. 92,007,572
84,086,216
32,178,154
1,092,682
(9,357,335)
866,183
1,037,600
(18,219,110)
929,564
(606,382)
92,007,572
57,140,180
16,819,629
5,551,766
(1,468,866)
6,282,895
(206,175)
784,348
470,671
74,352
85,448,800
This represents adjustments of over/under provisions of management expense, claims, and

correction of prior- period material errors, if any, against the opening balance of the Life Insurance
Fund. To give fair view and more appropriate presentation of financial position, the company has
adopted the accounting practice which is above consistently.
54
Annual Report 2009
Delta Life

2009

Taka
21.00 PREMIUM LESS REINSURANCE
Type of Premium
First Year Premium-OL
First Year Premium- GN-GRB
Sub-total
Renewal Premium-OL
Renewal Premium- GN-GRB
Sub-total
Group Insurance Premium
Sub-total
Total Tk. in 2009
Total Tk. in 2008
2008
Taka
4,358,259,309 3,810,127,579
Gross
Premium
654,424,643
419,314,102
1,073,738,745
1,785,340,459
1,223,035,054
3,008,375,513
199,436,944
106,798,415
306,235,359
4,388,349,617
L 3,835,083,729
Net
Premium
653,581,898
842,745
-
419,314,102
842,745 1,072,896,000
1,781,428,879
3,911,580
-
1,223,035,054
3,911,580 3,004,463,933
20,646,898
52,538,490
20,951,379
4,689,085
73,489,869
25,335,983
30,090,308 4,358,259,309
RI Premium
24,956,150 3,810,127,579
OL, GN-GRB and RI represent Ordinary Life, Gono -Grameen Bima and Reinsurance respectively.
22.00 INTEREST, DIVIDENDS AND RENTS Tk. 1,818,989,557

Interest on Agrani Bank Ind. Dev. Bond
Interest on Fixed Deposit Receipts (FDRs)
Interest on Debentures and Bonds
Interest on Policy and Project Loan
Interest and Commission on Bangladesh Govt.Treasury Bond (BGTB)
Interest on Short Term Deposit (STD A/Cs)
Dividends on Shares
Interest on Home Loan
Profit/ (Loss) on Sale of Shares
Interest on Motor & Bi cycle Loans
Statutory Deposit with Bangladesh Bank
663,044,583
66,918,750
27,723,099
562,702,155
14,780,386
39,292,455
2,339,637
441,970,536
47,956
170,000
1,818,989,557
23,702,615
684,049,567
3,168,500
28,224,946
443,016,897
15,852,403
19,522,357
2,578,429
55,812,114
330,153
170,000
1,276,427,981
55

Annual Report 2009
Delta Life
2009
Taka
Tk. 43,371,083
23.00 OTHER INCOME
40,798,083
2,537,275
35,725
43,371,083
Service Charge & others

Misc. Income
Profit/(Loss) on disposal of Fixed Assets
24.00 CLAIMS UNDER POLICIES

[INCLUDING PROVISION FOR

CLAIMS DUE OR INTIMATED], LESS REINSURANCE
Group
Insurance
97,741,679
4,932,045
-
-
1,139,423
765,404
89,550
1694,925,238 11,628,232,3401
77,538,114 1
By Death
By Maturity
By Survival
By Hospitalisation
By Others
By Surrenders
Annuities
Bonus in Cash
Sub-total
Profit Commission
Total Tk. in 2009
25.00 COMMISSIONS
Ordinary Life
Gono-Grameen Bima
Group Insurance
Health Insurance
56
2,042,157,288
Ordinary
GN-GRB
Life
58,085,076
21,393,858
215,081,571 918,990,227
336,286,057 135,240,324
2,539,299
-
-
574,737
6,447,197
45,480,417
-
449,047
130,827,618
-
789,323,822 1,082,071,606
-
-
789,323,822 1,082,071,606
Particulars
Total Tk. in 2008
2008
Taka
104,668,101
937,158
105,605,259
Health
Insurance
37,982,541
1,520,498
4,196,772
43,699,811
2,434,010,052
Total
177,220,613

1,139,003,843
-
-
471,526,381
65,156,601
67,695,900
-
1,714,160
-
52,693,018
538,597
-
-
130,827,618
65,156,601 2,041,220,130
-
937,158
65,156,601 2,042,157,288
33,314,360 1 2,434,010,052
Tk. 824,348,219
513,775,301
308,505,429
1,285,960
781,529
824,348,219
425,826,401
279,026,371
1,709,929
528,398
707,091,099

Annual Report 2009
Delta Life
26.00 LEGAL AND PROFESSIONAL FEES
2009
Taka
1k. 1,850,530
Legal advisers' fees for providing legal opinion

and vet legal document etc.
Lawyers' fees and expenses in respect of legal
cases for condonation of delay in holding
pending AGMs of the company.
1,030,500
Legal Retainers' (in-house) fees and expenses for

perusal of different types office matters/files for
vetting and provide legal opinion and
represents company in judicial matters.
Other legal & professional fees and expenses
(e.g.Tax adviser, special auditor's fees etc.)
27.00 ADVERTISEMENT AND PUBLICITY
2008
Taka
1,030,
127,995
255,6641
673,575
992,9621
18,460
1,850,530
11
2,389,126
Tk. 5,347,817
Corporate Social Responsibility (CSR) Contribution towards Women Handball

Tournament, Bishay Shahittoy Kendro, etc.
929,538
Publicity in various medias- Newspapers,

Television, Delta Barta, Calendar, Gift, Magazine etc.
4,365,397
2,471,415
6,105,324

82
5,347,817
47,979
8,624,718
Annual Subscription (BIA, DSE, CSE, Trade License)

1,696,433
Various Committee Meeting Fees
160,000
Charity & Donations
-
1,856,433
2,125,125
208,000
1,654,614
3,987,739
Advertisement - Sign Board, Bill Board, etc.
28.00 FEES, SUBSCRIPTIONS AND

DONATION
29.00 PROVISION FOR INCOME TAX:
1k. 1,856,433
Tk.
Pursuant to the judgment of the Appellate Division of the Hon'ble Supreme Court of Bangladesh
that the AGM for the year 2004 shall be held first and all subsequent AGMs upto the year 2012 shall
be held on the same day. Accordingly, provision for tax is to be made on surplus disclosed in the
Actuarial Valuation Report up to the year 2012.
57
Annual Report 2009
Delta Life
2008
Taka
2009
Taka
30.00 CAPITAL EXPENDITURE COMMITMENT Tk. NIL

There was no capital expenditure commitment authorized by the Board as on December 31, 2009.
31.00 CREDIT FACILITY AVAILABLE TO THE

Tk. NIL
COMPANY
There was no credit facility available to the Company under any contract as on December 31st, 2009
other than trade credit available in the ordinary course of business.
32.00 EXPENSES INCURRED IN FOREIGN
CURRENCY
During the year under review, following
payments were made in foreign currencies:

For Reinsurance operation
Tk. 12,037,981
12,037,981!
12,037,981
10,511,695
10,511,695
33.00 COMPANIES ACT 1994, SCHEDULE XI PART- II [NOTE 3(P) (VI) 5]

i) Number of employees drawing salary above Tk. 3000 per month
ii) Number of employees drawing salary below Tk. 3000 per month
2,203
810
2,182
868
34.00 PAYMENTS / PERQUISITES TO DIRECTORS / OFFICERS

34.01 The aggregate amounts paid/provided during the year in respect of directors and officers of the
company as defined in the Securities and Exchange Rules, 1987 are disclosed below:
Particulars
Board Meeting Fee
Basic Salary
Provident Fund Contribution
House Rent
Other Allowances
Total
2009
Officers
Directors
-
266,800
150,016,787

-
13,309,433
-
36,073,745
132,267,151
-
266,8001 331,667,116
Directors 2008Officers
209,300
141,835,089
-
-
12,458,006
-
32,868,250
-
122,140,030
309,301,375
209,300
34.02 Money was not spent by the company for compensating any member of the board for special
services rendered except as stated above.
35.00 EMPLOYEES' BENEFIT PLANS
The Company, for its permanent employees, operates the following benefit schemes:
i) Contributory Provident Fund
ii) Gratuity Scheme
iii) Group Insurance
iv) Health Insurance
The Provident Fund is administered by a Board of Trustees and is funded by equal contributions
from the employees and the Company at predetermined rates. The amount is invested separately
from the company's fund.
58
Annual Report 2009
Delta Life
The company has a gratuity scheme under which an employee is entitled to the benefits depending
on the length of service. Gratuity is accounted for in the year of payment.
36.00 EVENTS AFTER THE REPORTING PERIOD

There is no significant event that has occurred between the Balance Sheet date and the date when the
financial statements were authorized for issue by the Board of Directors except that the company
submitted return of income for the Assessment Year 2002-2003 (FY 2001). No Assessment Order
has been passed by the Income Tax Department in time allowed by the Income Tax Ordinance
1984 and hence the Assessment has been barred by limitation of time. As a result the return
submitted by the company has been deemed to have been accepted (please refer to note no 16.04).
37.00 DATE OF AUTHORISATION FOR ISSUE

These financial statements were authorised for issue on October 05, 2013 by the Board of Directors
of the company.
//F^/
ff^

Md. Mujibur Rahman

Director
4rA--4 -0-1

Chairman
Director
59
Annual Report 2009

Delta Life
N.
N.
Lfl
o
-i
00
L)
0'.
C14 C) r
r
N. N.
'P
C)
'.
cS CD N
C)
C)
o6
0
r
(D
C)
10
CIA
C) C)-'

-
N. cn C)
Intl) cj C)
C) n
00
\D
IC N.
'.
C:)
,i-
-
CDr
ifl 'D
o
-
cc
ri
C)
N.
cc
-
c)
00
In
CD
00
N.
Lf Lfl
-6 c 06N.
'.0
'.0
In
N.
a)
-;---'1tf
C)
CD
In
C'.
C)
'.0
C'
N. '.1
s
'.6
000'.
o6
rI
C) C)
&t
C) C)
0
a)
cl
z
N.
cl
(ID
(ID
(ID
riD
0b
e'i
N.
N:
0
_
'.0
C)
C)
,-
cc
en
c
'
CD
0'.
'.0
'.0
N.
t- '.
g.,
10 CD
N.
In In N.
0000
'.0 N.
In
-:--
0'.
'.0
'.0
in
-:- -:-
In
C) C)
'.0
In
C)
'.0
In
In
C)
C
In
In
00 C) N.
ON
-
z
N. r1 00 C) 0,
N.
- C)
00
'.0
'.0
o
0'.
'.0cc
C)
'
C'.
C)
00 N. C)
'.
O'
r'r
ti)a)
In
'..0 a'.
- '.0
N.
C)
00
00
'.0
C)
N.
'.0
Lfl
C)
00
In
N.
00
'.0
In
In
cc
(I-i
V
r' C) N.
ULn
N. In N. N. In C
-
-i in 00
C'.
C'.
0'. 00 00 '.0 N. '.0
C)
C)
In
o 00'
'O
0'.' In N.
0'.
t'.I
N:
cc
In
N. Ln
o6 00
In
N. In
C) In
ON L1
C'.
0'.
01R, C)
00 0'. '.0
'.0
N. In '.0
00 in
r'a
- 00 00
od'
cc
N.
r'j
N.
00
00
00
CD
'.0
In
C'.
00
N. '.
N: N.
N. 0'. C
- 0'. -
N.
In
CD
'.0
o'd
a)
00
CD
0
.1
In
o a)
44
a)
v
N.
60
Annual Report 2009

Delta Life
Delta Life Insurance Company Limited

Certificate Under The Insurance Act 1938
As per Regulations contained in the First Schedule of the Insurance Act, 1938, as amended, and 40-B of the
said Act, we certify that:
3.
The value of investment in shares and debentures has been taken at cost.
The value of all assets as shown in the Balance Sheet and as classified on Form "AA" annexed have
been duly reviewed as at 31" December, 2009 and in our belief, the said assets have been set forth in
the Balance Sheet at amounts not exceeding their realisable or market values under the several
headings as enumerated.
All expenses of management in respect of Life Insurance Business transacted by the company in
Bangladesh have been fully charged to the Life Revenue Account as expenses.
0
Md. Mujibur Rahman

Director
"
Director
Chairman
61
Annual Report 2009
Delta Life
Delta Life: Prosperous Life
FFTMM
(\ Delta Life Insurance Company Limited

Uttara Bank Bhaban
90 Motijheel C/A, Dhaka-l000, Bangladesh.
Proxy Form
I/We ...........................................................................................................................................of....................................................
..................................................................................................being the shareholder(s), Delta Life Insurance Company
Limited hereby appoint Mr.fMs ................................................................................................................................... failing which
Mr/Ms. ............................................................................................................... as my/our proxy to attend and vote for me/us and
on my/our behalf at the 24h Annual General Meeting of the Company to beheld on Saturday, November 16, 2013 at 12:00 Noon at Delta
Life Tower, Plot No. 37, Road No. 45 (South) & 90 (North), Gulshan Circle-2, Dhaka and at any adjournment thereof.
Signedthis ....................................................Day of ................................2013.
Signature of Proxy:
1) ....................................................................
Folio/BO ID-No .............................................
2) ....................................................................

Revenue
Stamp
Tk. 20.00
Signature of Shareholder(s)
Folio / BO ID No..............................
No. of Shares ....................................
Folio/BO ID No.............................................
Note:
A member entitled to attend and vote at the 24 11 Annual General Meeting may appoint a proxy who must be a shareholder of
the Company to attend and vote in his/her stead. The proxy form, duly stamped, must be submitted at the Registered Office of
the Company not later than 48 hours before the time fixed for the AGM.
Signature Verified

Shareholders' Attendance Slip
I/We hereby record my attendance at the 24" Annual General Meeting being held on Saturday, November 16, 2013 at 12:00 Noon at
Delta Life Tower, Plot No. 37, Road No. 45 (South) & 90 (North), Gulshan Circle-2, Dhaka.
Nameof the Shareholder(s)/Proxy .......................................................................................................................................
FoliofBO ID No . ................................................................................... Holding of.................................Ordinary Shares
of Delta Life Insurance Company Limited.
Signature of Proxy:

Signature of Shareholder(s)
1) ............................................
2) ............................................
Notes:
1.Please note that the AGM can only be attended by the honorable shareholder or properly constituted proxy. Therefore any
friend or children accompanying honorable shareholder or proxy cannot be allowed into the meeting.
2. Please present this slip at the Reception Desk.
tl!:h\
Delta Life Insurance Corn
II
c
We
rC
IeI9xIu I_IIIILt
Uttara Bank Bhaban, 90 Motijheel Commercial Area, Dhaka-1 000, Bangladesh

Phone 9565033 (PABX), FAX : 88-02-9562219
Website : www.deltalife.com
LAS
CD

Delta Life Insurance 2009

Загружено:

Сведения о документе

Исходное описание:

Авторское право

Доступные форматы

Поделиться этим документом

Поделиться или встроить документ

Параметры публикации

Этот документ был вам полезен?

Это неприемлемый материал?

Авторское право:

Доступные форматы

Delta Life Insurance 2009

Загружено:

Авторское право:

Доступные форматы

Annual Report 2009

10 November 1986 Incorporation and

Financial Statistics ..............................................04

Signing of First Policy

Corporate Governance Report ..........................07

1988 Launching of Grameen Bima

Auditors' Report ................................................16

1993 Launching of Gono Bima

Balance Sheet ......................................................19

Life Revenue Account ........................................21

Inauguration of Delta Care

Statement of Life Insurance Fund ......................25

Notes to the Financial Statements ....................29

2001 Membership of Global Network

2003 Gono-Grameen Bima Merged

Certificate under the Insurance Act 1938 ..........61

Listed in Chittagong Stock

Annual Report 2009

Delta Life Insurance Company Ltd.

Notice of the Twentyfourth Annual General Meeting

By order of the Board of Directors

Annual Report 2009

First Year Premium

Annual Report 2009

Annual Report 2009

Corporate Social Responsibility:

Dhaka, October 05, 2013

Annual Report 2009

Corporate Governance Report:

Company corporate governance philosophy is based on the following principles:

Be transparent and maintain a high degree of disclosure levels.

Annual Report 2009

Mr. Syed Moazzem Hussain

Annual Report 2009

COMPOSITION OF COMMITTEES OF THE BOARD AND ATTENDANCE AT THE MEETINGS

Annual Report 2009

Parent/Subsidiaries/Associate companies and other related parties - Nil.

Mr. Syed Moazzem Hussain

Mr. Monzurur Rahman

Dr. Syed Mukarram All

Dr. Muhammad Raushan All

Mr. Nurul Huda

Mrs. Farida R.Ahmed

Mrs. Fahmida R.Naser

Mrs. Farida Mostafa

Dr. Nasir Uddin Ahmed

Dr. Sadigur Rahman Malik

Mr. Mahmud Hasan

Mr. Habibur Rahman Khan

Mr. Mohd. Syedul Islam

14 Mr. Aziz Ahmed, FCA, CISA (USA)

Mr. Kazi Faziur Rahman

Mr. Borhanuddin Ahmed

Mr. Md. Nurul Islam

18 jMr. Md. Abdul Wahab

Mr. Arif Ahmed

Mr. Golam Sarwar

Ms. Adeeba Rahman, ACII

jMrs. Syeda Soyeli Ahmed

Ms. Anika Rahman

Ms. Saika Rahman

Chief Executive Officer, Company Secretary, Chief

Financial Officer, Head of Internal Audit