National Credit Ratings Limited has affirmed Sonali Life Insurance Company Limited’s long-term rating at AA+ (Double A+) and a short-term rating as ST-2 based on audited financial statements up to 31 December 2021 and other relevant qualitative as well as quantitative information up to the date of the rating.
The glory of success should no doubt be reflected in the country’s insurance industry, a press release read.
The Managing Director (CEO) of Sonali Life Insurance Company, Rashed Bin Aman, said it was a unique and shining example for the industry.
He said that Sonali Life Insurance, a fourth generation insurance company, which follows fully Shariah-based rules and regulations, has been able to create a difference in the market due to its most modern technological base, of its consistent and responsible services to customers.
“Sonali meets the growing and changing demands of a wide range of customers with its innovative and time-appropriate products and also maintains transparency and accountability in all spheres of its business across all of its more than 140 branches across the country”.
Sonali Life’s main success is its strict commitment to claiming settlement within seven days of due dates.
The company has settled over 20,000 insurance claims to date and all have been completed on time.
Sonali Life an attractive renewal percentage of 89% is another achievement, while the automation of all Sonali activities makes the company more demanding from customers as they can track every step on their own of the development of their police profile via a digital application.