This achievement is a major indication of our strong financial foundation on which we are committed to provide the best benefit to our valuable policy holders and honorable shareholders for years to come. We are the only local life insurer who have achieved “AAA” credit Rating for the fourth consecutive time. Before that, in 2013, we celebrated 25 years of operation of GN-GRB, the micro insurance introduced by Delta Life in the country for the first time. It made Delta Life a trustworthy name in the insurance sector of the country.ĭelta Life celebrated its 30 years of successful of operation in 2016. In last five years, we paid more than Two Thousand Four Hundred and Seventy Three Crore Taka as claims, while our life fund stands at Three Thousand Six Hundred Seventy-Four Crore Taka. Yes indeed, we are aware of the fact that covering 3.5 million lives entails utmost compliance/ transparency in business operation on the part of the insurers.Īnd Delta Life has been able to safeguard the deposits of the people with great honesty and integrity. It gives us a sense of immense pleasure, while we realize the responsibility at the same time. Delta Life Insurance Company Limited is proud of the fact that around 3.5 million lives are part of our family. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.We are now at 33. Nevertheless, Delta Fire's risk-adjusted capitalization remains more than supportive of its FSR and ICR, which were affirmed prior to withdrawal of the ratings.įor Best's Ratings, an overview of the rating process and rating methodologies, please visit Best's Rating Center.įounded in 1899, A.M. Delta Life Insurance Company and Delta Fire. The Company provides life, health, and disability insurance services. The market value of the Wachovia and Regions Financial holdings shrunk further during 2008. Vice President of Agencies at Delta Life Insurance Company and Delta Fire & Casualty Insurance Company. (Regions Financial) common stock, and while Delta Fire's underwriting results in 2007 were in line with its most recent year's results, unrealized capital losses on the aforementioned bank holdings served to reduce surplus by $2 million, or 17%. The VAT Audit, Intelligence and Investigation Directorate of the National Board of Revenue (NBR) recently filed a case against Delta Life Insurance, a company in the capitals Gulshan area, finding evidence of them evading value added tax or VAT, resulting in a due sum total of Tk25.34 crore, including principal and interest penalties. The market value of Wachovia's stock has eroded further in 2008.ĭelta Fire, a sister company to Delta Life, also holds a large portion of its policyholders' surplus in Wachovia common stock as well as Regions Financial Corp. These rating actions reflect a significant reduction in the company's capital and surplus level from unrealized capital losses resulting primarily from a material devaluation of its Wachovia stock in 2007. Best's interactive rating process.ĭelta Life continues to hold an extremely large position in Wachovia Corporation's (Wachovia) common stock in comparison to its total capital and surplus position. Members Insurance Advisors 1, our wholly owned subsidiary, can make the process of selecting the right life insurance policy for you easier by providing you with two great resourcesCovr and TruStage. Best has withdrawn the ratings and assigned a category NR-4 (Company Request) to both companies in response to a request from the companies' management to be removed from A.M. Life insurance provides a way to ensure your family's future is secure, even if you're unable to be there with them. Best has affirmed the FSR of B+ (Good) and ICR of "bbb-" of Delta Fire & Casualty Insurance Company (Delta Fire) (Atlanta, GA).The outlook for these ratings is stable. View Kazi Foysals profile on LinkedIn, the worlds largest professional community. The outlook for the ratings has been revised to stable from negative.Ĭoncurrently, A.M. has downgraded the financial strength rating (FSR) to B- (Fair) from B (Fair) and issuer credit rating (ICR) to "bb-" from "bb" for Delta Life Insurance Company (Delta Life) (Atlanta, GA).
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