Mahbubur Rahman, Chairman, Eastland Insurance Company Ltd, addressing the Half-Yearly Conference - 2019 of the company held in the city on Saturday. Among others, Directors Abu Sayeed Md. Quasem, Alhaj Mohd. Arshad Ali, Ghulam Rahman, Executive Vice Chairman, Arun Kumar Saha, Chief Executive Officer and Abdul Hamid, FCA, Additional MD & CFO also seen. The Half-Yearly Conference-2019 of Eastland Insurance was held on Saturday in the city.
Mahbubur Rahman, Chairman of the Company, inaugurated the conference.
"Some of the distinguished members of the Board were also present at the conference. In-charge of branches from all over the country with senior marketing/non-marketing executives/officers participated in the programme," said a statement.
Mr. Arun Kumar Saha, Managing Director & CEO evaluated the performance of the Company during 1st half of the year.
As against its' annual target of Tk. 1.25 billion, the Company achieved Tk 509.8 million.
The CEO stated that out of 28 branches, 3 branches achieved hundred per cent or their proportionate target and 8 branches achieved almost near of their targets.
The meeting warmly greeted those branches for their resounding performances. The CEO presented business strategy for 2nd half of the calendar year.
He put thrust on compliance of instructions, prepared by Insurance Development and Regulatory Authority (IDRA) which have also been duly emphasized by Bangladesh Insurance Association and Bangladesh Insurance Forum.
The Chairman while expressing satisfaction on Company's performance during 1st half called upon all concerned to widen their respective contacts so as to maintain growth trend to achieve the annual target.
The Chairman stated that the contribution of insurance sector for country's economic growth is much below the desired level as compared to that in UK, USA and India.
"Because of 'unethical practices and existing indiscipline' in non-life insurance sector, the IDRA has lately been taking much cherished steps to bring back discipline in the sector."
All concerned were advised to whole heartedly comply with the instructions for the sake of greater interest of the sector. Failing to comply with any of the referred instructions of IDRA, the errant companies will face music, the Eastland Insurance Chairman added.
Executive Vice Chairman Ghulam Rahman in his concluding address expressed gratitude to the Chairman and distinguished members of the Board for their presence at the conference which definitely encouraged the participants.
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