Trust Islami Life’s insurance fund grew in July-September

Trust Islami Life Insurance Limited witnessed an increase in its life insurance fund in the third quarter ended on 30 September 2022.

As per its unaudited third-quarterly financial statements, the insurer’s life insurance fund had reached Tk 6.4 crore in the July-September quarter of 2022, which was almost double than the figure of Tk 3.4 crore made in the same quarter of the previous year. The total life insurance fund of the insurer stood at Tk 18.7 crore as on September 2022, against Tk 10.5 crore till September 2021.

The company’s pre-IPO net asset value (NAV) per share was Tk 11.04 till September last year, but the figure would be Tk 6.62 considering its post-IPO paid-up shares. The insurer had maintained the same number of pre-IPO paid-up shares of 2.4 crore for the period ended on September 30 last year. However, it is reported that the post-IPO paid-up number of shares would be 4 crore. The life insurer received approval from the Bangladesh Securities and Exchange Commission (BSEC) on January 25 to raise a fund worth 16 crore through an IPO under the fixed price method.