Reliance Ins approves 15pc Stock, 15pc cash dividend

The 27th Annual General Meeting (AGM) of Reliance Insurance Limited was held at a city hotel on Thursday. Habibullah Khan, Chairman of the Board of Directors of the company presided over the meeting, said a press release.

The AGM approved 15 per cent stock and 15 per cent cash dividend for its shareholders for the year 2014.

During the year 2014 the company achieved a gross premium income of Tk 2,026.71 million and earned pre-tax profit of Tk 458.39 million as against Tk 406.17 million in the previous year.

The meeting was attended by a large number of shareholders, who took keen interest in the proceedings. The shareholders expressed their deep appreciation for the prudent and judicious steps taken by the management in running the affairs of the company. They also put forward a number of suggestions, which were duly noted by the management.

Two new directors from the public shareholders Amanullah Chowdhury and Yasmeen Khan were elected in the AGM.

The AGM was subsequently followed by a meeting of the Board of Directors in which the members of the Board including the newly elected directors took part and discussed elaborately the future direction of action of the company in the coming months. Later, in the meeting Zakia Rouf Chowdhury and Shahnaz Rahman were unanimously elected Chairman and Vice-Chairman respectively.

The Board of Directors of the company is now comprised the following members: Zakia Rouf Chowdhury (Chairman), Shahnaz Rahman (Vice-Chairman), Habibullah Khan, Shamsur Rahman, Rajiv Prasad Shaha, Md Khalilur Rahman Choudhury, Farah Huq, Arshad Waliur Rahman, Imran Faiz Rahman, Amanullah Chowdhury, Atiqur Rahman, Romana Rouf Chowdhury, Faiza Rahman, Yasmeen Khan, Anis-uz-Zaman Khan, Dr Toufiq Ali and Md Khaled Mamun, Chief Executive Officer (CEO).