Eastland Ins approves 37pc stock dividend

The 24th Annual General Meeting (AGM) of Eastland Insurance Company Limited was held Thursday at the Bangabandhu International Conference Centre in the city. The meeting was presided over by Mr. Mahbubur Rahman, Chairman of the Company. The Chairman presented the report of the Directors, Audited Accounts of the Company for the year ended 31st December 2010 together with Auditors Report thereon. The Chairman informed the meeting that the Company earned a gross premium of Tk. 485.62 million during 2010 through its 23 Branches which is 22.41% higher than that of the previous year. Net premium income also increased at Tk. 271.54 million with a record of 24.90% increase than that of previous year. During the year, the Company settled 340 claims for a total amount of Tk. 79.11 million on account of Fire, Marine, Motor and Misc. Insurance. Total assets of the company as on December 2010 stood at Tk. 1104.25 million. The Company approved 37% stock dividend for the year 2010. Contribution of the Company towards National Exchequer during the year 2010 was Tk. 74.30 million as Income Tax, VAT and Stamp Duty. Continued to page 20