Eastland Ins approves 30pc stock dividend
Tuesday, 26 May 2009
Eastland Insurance Company Limited approved 30 per cent stock dividend for its shareholders for the year of 2008 at its 22nd annual general meeting (AGM) held in the city Monday, said a press release.
Chairman of the company Mahbubur Rahman presided over the meeting.
The chairman presented the report of the directors, audited accounts of the company for the previous year together with auditors report thereon.
He also said that the company earned a gross premium of Tk 350.96 million during 2008 through its 23 Branches which is 10.75 per cent higher than that of the previous year.
Net premium income also increased to 196.64 million with a record of 11.42 per cent increase over that of previous year. During the year, the company settled 233 claims for a total amount of Tk 92.80 million on account of fire, marine, motor and Misc Insurance. Total assets of the company as on December 2008 stood at Tk 753.38 million.
Contribution of the company towards national exchequer during the year 2008 was Tk 61.54 million as income Tax, VAT and stamp duty.
The chairman said that despite volatile economic as well as political situation, business of the company grew in 2008 in all areas of its operation due to prudent business policy and effective marketing strategy.
In this juncture when stiff competition and economic uncertainty, had combined the management was committed to meet the challenges of time with hard determination to maintain the trend of growth and enhance market share by extending personalised services to the existing clients and bring new clients within its fold, he added.
The directors and a large number of shareholders of the company also attended the meeting and took part in the deliberations on annual report, statement of accounts and performance of the company.
Chairman of the company Mahbubur Rahman presided over the meeting.
The chairman presented the report of the directors, audited accounts of the company for the previous year together with auditors report thereon.
He also said that the company earned a gross premium of Tk 350.96 million during 2008 through its 23 Branches which is 10.75 per cent higher than that of the previous year.
Net premium income also increased to 196.64 million with a record of 11.42 per cent increase over that of previous year. During the year, the company settled 233 claims for a total amount of Tk 92.80 million on account of fire, marine, motor and Misc Insurance. Total assets of the company as on December 2008 stood at Tk 753.38 million.
Contribution of the company towards national exchequer during the year 2008 was Tk 61.54 million as income Tax, VAT and stamp duty.
The chairman said that despite volatile economic as well as political situation, business of the company grew in 2008 in all areas of its operation due to prudent business policy and effective marketing strategy.
In this juncture when stiff competition and economic uncertainty, had combined the management was committed to meet the challenges of time with hard determination to maintain the trend of growth and enhance market share by extending personalised services to the existing clients and bring new clients within its fold, he added.
The directors and a large number of shareholders of the company also attended the meeting and took part in the deliberations on annual report, statement of accounts and performance of the company.