Delta Life’s rejoinder and our reply | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Friday
July 11, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
FRIDAY, JULY 11, 2025
Delta Life’s rejoinder and our reply

Corporates

TBS Report
21 January, 2021, 09:55 pm
Last modified: 21 January, 2021, 10:06 pm

Related News

  • Ctg Port Authority's rejoinder and our reply
  • BAESA rejoinder and our reply
  • Rampal rejoinder and our reply
  • BMET's rejoinder and our reply
  • Army didn’t receive any direct communication from UN on July uprising: ISPR

Delta Life’s rejoinder and our reply

The report was based on a show-cause letter to the company by the IDRA and it does not reflect the perspective of the reporters

TBS Report
21 January, 2021, 09:55 pm
Last modified: 21 January, 2021, 10:06 pm
Delta Life’s rejoinder and our reply

Delta Life Insurance Company Ltd in a rejoinder to a report headlined "Delta Life Insurance awaits an administrator" published in The Business Standard on 21 January said that there are no irregularities in the company.

Following is the text of the rejoinder

Out of the 22 audit observations by Howlader Yunus and Co and 25 by Fames and R, most are in common. Most are subjective being minor issues on accounting treatment and some out of miscommunication between the auditors and the company.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The 10 issues that Fames and R suggests need further investigation are completely baseless and unprofessional. They have addressed these issues as 'anomalies without proof'. Such observation cannot be the language of a professional auditor and is misconceived and with an ulterior motive. The company has been under audit for over 15 months and not a single evidence of misappropriation or embezzlement has been found.

A company of the stature of Delta Life should never have been under audit in the first place but this has happened due to a former disgruntled employee of Delta Life who has joined the Insurance Development and Regulatory Authority (IDRA) in a senior position. This person routinely asked the company for illegal gratification for which the company along with audio and documentary evidence has filed a complaint with the Anti-Corruption Commission (ACC). The whole purpose of appointing an administrator is to intimidate and pressurise the directors and the staff from pursuing the complaint with the ACC. The company will make all the evidence public if compelled to do so.

The company has not been able to hold its AGM since 2019 as IDRA for long did not approve the basis of actuarial valuation for calculating actuarial surplus required to declare dividends. When IDRA did so, they drastically reduced the rate prescribed by the consulting actuary. This would bring down our business volume as well as reduce actuarial surplus to pay good dividends. The company was compelled to move to the honorable court to address this ill motive.

In the meantime, we will address all the audit findings with IDRA and hope to see that just and fair treatment is given to the company. The company, its directors and employees stand by the zero-tolerance policy towards corruption by Prime Minister Sheikh Hasina and further hope that corruption does not prevail over our honesty and integrity.

Delta Life has been rated AAA for the past 5 years. It has the highest paid-up capital amongst listed insurance companies and pays one of the highest cash dividends every year. The company also pays the highest policy bonus to policyholders amongst both local and foreign companies.

Delta Life also regularly appoints a top audit firm to undertake its statutory audit every year. The chairman of the Board of Directors is General Nuruddin Khan p.s.c., former Chief of Army Staff and a former minister. The Chairman of the Audit Committee is a former Attorney General, Salahuddin Ahmad. The Chief Executive Officer, Adeeba Rahman is highly qualified and the first woman chartered insurer in Bangladesh with an illustrious career in the sector.

Our Reply

The report was based on a show-cause letter to the company by the IDRA and it does not reflect the perspective of the reporters.

The reporters also called the chief executive officer of Delta Life Insurance Company for his version but they did not get any response.

Top News

Delta Life Insurance / Rejoinder

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • How tender rules and a lone bidder stall a $2.5b power plant
    How tender rules and a lone bidder stall a $2.5b power plant
  • Bangladesh and US hold tariff talks for second day on 9July 2025. Photo: CA Press Wing
    35% tariff: Bangladesh, US 'reach general consensus on some issues' on second day of talks; final round today
  • BNP senior leader Salahuddin Ahmed. Photo: Collected
    No scope for electoral alliance with Jamaat, door not closed for NCP: BNP's Salahuddin

MOST VIEWED

  • Photo: Mohammad Minhaj Uddin/TBS
    SSC, equivalent results: Pass rate drops to 68.45%, GPA-5 also declines
  • In terms of stream of education, girls maintained their excellence as well. Photo: TBS
    SSC 2025: Girls dominate boys by over 5%
  • Govt vehicle purchase, foreign trip, new building construction banned: Finance ministry
    Govt vehicle purchase, foreign trip, new building construction banned: Finance ministry
  • Students sit for SSC exam at Motijheel Girls' High School on 10 April 2025. Photo: Mehedi Hasan/TBS
    SSC exam results out: Here's how you can check online and via SMS
  • The overall pass rate across all boards this year, 68.45%, is significantly lower than last year's. Photo: Focus Bangla
    SSC 2025: Rajshahi board records highest pass rate, Barishal lowest
  • Representational image. Photo: Collected
    35% tariff: Bangladesh, US 'agree on most issues' as first day of talks ends

Related News

  • Ctg Port Authority's rejoinder and our reply
  • BAESA rejoinder and our reply
  • Rampal rejoinder and our reply
  • BMET's rejoinder and our reply
  • Army didn’t receive any direct communication from UN on July uprising: ISPR

Features

Photo: Collected/BBC

What Hitler’s tariff policy misfire can teach the modern world

17h | The Big Picture
Illustration: TBS

Behind closed doors: Why women in Bangladesh stay in abusive marriages

20h | Panorama
Purbachl’s 144-acre Sal forest is an essential part of the area’s biodiversity. Within it, 128 species of plants and 74 species of animals — many of them endangered — have been identified. Photo: Syed Zakir Hossain/TBS

A forest saved: Inside the restoration of Purbachal's last Sal grove

20h | Panorama
Photo: Rajib Dhar/TBS

11 July 2024: Riot vehicles, water cannons hit the streets as police crack down on protesters

13h | Panorama

More Videos from TBS

'Hypocrisy' will not continue, Iran tells IAEA

'Hypocrisy' will not continue, Iran tells IAEA

16h | TBS World
OpenAI to release web browser in challenge to Google Chrome

OpenAI to release web browser in challenge to Google Chrome

15h | TBS World
Will the title 'Honorable and Excellency' be abolished?

Will the title 'Honorable and Excellency' be abolished?

16h | TBS Today
July Declaration must be constitutionally recognized: Akhtar Hossain

July Declaration must be constitutionally recognized: Akhtar Hossain

16h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net