Sunlife Insurance Company Ltd.

What Sunlife Insurance Company Ltd. does

Sunlife Insurance Company Ltd. is a Bangladesh-based, publicly listed life insurance company founded on 1 March 2000 under the Companies Act, 1994, and listed on the Dhaka and Chittagong stock exchanges via an October 2012 IPO that was approximately 65x oversubscribed. The company offers a diversified portfolio of conventional and Islamic/Takaful-style life insurance products, including endowment plans with and without bonuses (Single Premium Endowment, Endowment Assurance), pension and retirement products (Pension Bima, Sunlife Pension Deposit Insurance / SPDI, Deposit Pension Scheme), group life and disability coverage for corporate employers, Critical Illness Insurance, Child Protection Plans, and a Biennial Payment Plan. Products are priced via monthly, quarterly, semi-annual, and annual premiums starting as low as BDT 100 for microinsurance tiers, with coverage and premium calculators available online.

Sunlife distributes through a hybrid model combining 41 decentralized service centers across major Bangladeshi districts, a 24/7 hotline (16725), email and physical mail, corporate field sales, and digital self-service tools including an online Premium Calculator and downloadable policy forms, supported by Facebook and LinkedIn presence. The customer base is segmented across individual retail (families seeking savings and protection), corporate group clients (employers providing employee benefits), and micro-insurance buyers in informal-economy segments (fishermen, rickshaw pullers, small shopkeepers), plus a secondary professional-women segment. The company is regulated by IDRA, BSEC, DSE, and CSE, and shows significant governance linkage to the Green Delta group via overlapping board members.

The technology stack is conventional rather than AI-enabled: an online Premium Calculator, customer portal, digital claims workflow, and a partner-hospital network for cashless treatment are the principal proprietary digital features; AI/ML capabilities are not described in the available material. Operational scale is modest — 18 core employees, BDT 357.61 million paid-up capital, and BDT 565.67 million life fund as of end-2024 — placing Sunlife among the smaller-tier listed life insurers in Bangladesh. Under a post-2023 strategic restructuring with renewed leadership (CEO Piplu Biswas, CFO Md. Rafiq Ahmed), the company has prioritized efficiency, customer satisfaction, and technology, with active IT hiring and product expansion through 2024–2025.

Name

Sunlife Insurance Company Ltd.

Legal name

Sunlife Insurance Company Limited

Website

https://sunlife.com.bd

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Sunlife Insurance Company Ltd. is a Bangladesh-based, publicly listed life insurer offering endowment, pension, group, microinsurance, and critical illness products to individual retail, corporate, and low-income customers via 41 service centers and digital tools.

Ownership category

akta.pro rank

Product category

Life Insurance

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Group Term Life Insurance (FSAIAAAJ), Group Universal Life (GUL) (FSAIADAC), Whole Life / UL Policy Riders & Add-ons (e.g., Waiver of Premium, Accidental Death, Child Term, LTC/Chronic Illness) (FSAIABAK)

Keywords

• Life insurance
• Endowment assurance
• Pension plans
• Group insurance
• Microinsurance

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Life Insurance Premiums: Sunlife Insurance generates revenue primarily through life insurance premiums collected from policyholders. The company offers multiple insurance products including term life, endowment, pension, and group insurance policies with various premium payment modes (annual, semi-annual, quarterly, monthly). Premiums are calculated based on age, term, sum assured, and policy type.
2. Insurance Administration Fees: Revenue from policy administration services including loan facilities against policies (up to 90% of surrender value), and various policy-related service charges
3. Group Insurance Services: Corporate group insurance solutions providing death and disability coverage tailored to company structures, with coverage determined by flat amounts, earnings-based multiples, or position-based structures

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Sunlife Insurance is a Bangladesh-based life insurance company that underwrites and sells individual and group life insurance, endowment, pension, child protection, and microinsurance policies. Products are distributed through 41 service centers nationwide, an agent force, and a digital portal with an online premium calculator, and supported by digital claims processing and 24/7 customer service.

Product overview

Sunlife Insurance Company Ltd. is a third-generation life insurer in Bangladesh offering a diversified portfolio of conventional life policies, Islamic Takaful-style offerings, and microinsurance products tailored for low-income segments. The product suite comprises protection-oriented plans (Three Payment Plan with Bonus, Group Life Insurance, Critical Illness Insurance), savings-focused endowment plans (Single Premium Endowment, Endowment Assurance with Bonus, Endowment Assurance Guaranteed Profit, Deposit Pension Scheme), retirement solutions (Pension Bima, Sunlife Pension Deposit Insurance), and family-oriented coverage (Child Protection Plan). All products are supported by a nationwide network of 41 service centers and a digital Premium Calculator tool.

Differentiator

Problem solved

Functional benefit

Products and services

• Three Payment Plan (With Bonus)

Quantifiable outcome

• 65x oversubscription on IPO demonstrating strong market trust and investor confidence
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered minor.

• Green Delta Insurance PLCminorOthersGreen Delta Insurance PLC is connected through shared leadership. Wafi Shafique Menhaz Khan, Chairman of Sunlife Insurance, serves as Deputy Managing Director of Green Delta Insurance heading Retail & SME. Additionally, Md. Oliullah Khan FCS serves as Company Secretary and SEVP at Green Delta Insurance. This represents a governance linkage rather than a formal business partnership.
• Green Delta Securities LimitedminorOthersGreen Delta Securities Limited is connected through shared leadership. Wafi Shafique Menhaz Khan, Chairman of Sunlife Insurance, also serves as Managing Director & CEO of Green Delta Securities Limited, one of Bangladesh's renowned brokerage houses.
• Green Delta Capital LimitedminorOthersGreen Delta Capital Limited (leading investment bank in Bangladesh) is connected through shared leadership. Kazi Ahmed Sabihuzzaman, Nominee Director of Sunlife Insurance since November 2023, serves as CFO & Company Secretary at Green Delta Capital Limited.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• National Life Insurance Company Ltd. Government-owned Bangladeshi life insurer with a broad portfolio of endowment, group, and pension products. Directly comparable in offering mix and customer base to Sunlife, and notably shares CEO-level alumni (e.g., Piplu Biswas).
• Sandhani Life Insurance Company Ltd. Bangladesh-listed life insurer offering endowment, group, and pension plans. Direct competitor with shared executive alumni (CFO Rafiq Ahmed previously served at Sandhani Life).
• Diamond Life Insurance Company Ltd. Bangladesh-listed life insurer offering endowment, group, and pension products. Direct competitor; notably Sunlife's current CEO Piplu Biswas was previously CEO here (2017–2025).
• Pragati Life Insurance Ltd. Bangladesh-listed life insurer focused on endowment and microinsurance for low-income and rural segments. Direct competitor for Sunlife's microinsurance and retail endowment products.
• Green Delta Insurance PLC: Bangladesh's largest non-life insurer offering life-like group and health coverage, with overlapping leadership (Chairman Wafi Shafique Menhaz Khan is DMD of Green Delta Insurance). Closely linked competitor with shared governance and likely cross-customer dynamics.
• Progressive Life Insurance Company Ltd. Bangladesh-listed life insurer offering similar endowment and group products. Direct competitor with shared executive alumni (Head of IT Kazi Tariqul Islam previously served there).
• Delta Life Insurance Company Ltd. One of Bangladesh's largest listed life insurers offering endowment, term, group, and microinsurance products. Direct competitor in the same product categories and retail/corporate segments as Sunlife, with much larger scale.

Broad incumbents

• MetLife Bangladesh: Subsidiary of global insurer MetLife offering life, health, and group protection in Bangladesh. Larger, capital-deep incumbent that competes with Sunlife for group/corporate and high-net-worth customers.
• Prudential Life Insurance Bangladesh: Subsidiary of global insurer Prudential offering life and health products in Bangladesh. Larger, capital-deep incumbent competing for retail and group customers with Sunlife.
• Bangladesh National Insurance Company (BNI): State-owned general insurer in Bangladesh offering health and group life-like coverage. Adjacent competitor with broader portfolio that overlaps with Sunlife's group and critical illness offerings.

Market position

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/SunlifeInsLtd
• LinkedInlinkedin.com/company/sunlifeins

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sunlife Insurance Company Ltd.