Sandhani Life Insurance Company Limited incorporated as a public limited company on 23 January 1990 under the Companies Act 1913 to conduct life insurance business the Insurance Act 1938. On 28 March of the same year, the company obtained certificate for commencement of business. It was registered with the Controller of Insurance on 25 April 1990, following which it immediately commenced life insurance business. The authorised capital of the company is Tk 200 million divided into 2 million ordinary shares of Tk 100 each. Its paid up capital is Tk 30 million. The sponsor shareholders subscribed 50% of its paid up capital and the remaining 50% was paid by the public shareholders, of which 20.63% by institutions and 29.37% by individuals. The company went public in January 1996 and was enlisted with the Dhaka Stock Exchange on 6 April 1996.

Up to December 1999, the company sold 20,932 individual life insurance policies. The premium incomes of the company in 1999 were Tk 160.50, which comprised Individual Life Insurance Tk 159.44 million (first year premium Tk 76.99 and renewal premium Tk 82.45 million), group insurance premium Tk 0.12 million and vehicle loan premium Tk 0.95 million. That year it paid re-insurance premium of Tk 0.44 million to the jiban bima corporation. The value of life insurance claims settled by the company was Tk 43.10 million. The company received significant amount of income in the form of interest on National Investment Bond, fixed deposits, short-term deposit accounts, interest on policy loans and motorcycle loans to staff, and dividend income. Total income on these counts was Tk 8.50 million in 1999.

The management of the company is vested in a 32-member board of directors with the managing director as the chief executive, who is assisted by 5 executives. [S M Mahfuzur Rahman]