Sena Kalyan Insurance Company Limited gained a 75 per cent higher profit to Tk 45.6 million in the second quarter through June this year, compared to the same quarter a year ago.
In the first six months of the year, it earned 56 per cent more to Tk 82.4 million than in the same period last year, according to its unaudited financial statements.
M.M. Sajedul Islam, company secretary of Sena Kalyan Insurance, said the income had surged because of a jump in interest income and better business outcome.
Company's cash flow supports the statement of Mr Islam.
According to Monday's earnings disclosure, cash flow from the business operation improved. Last year, the cash flow from operations was Tk 130 million, which rose to Tk 202 million this year.
The profit earned in 2023 was Tk 136.66 million. The company has declared 13.50 per cent cash dividends for the year.
According to the Insurance Development and Regulatory Authority of Bangladesh (IDRA), the general insurance industry had a claim settlement ratio of 69.81 per cent as of December 2022. Sena Kalyan's claim settlement rate was 60.67 per cent.
Meanwhile, the stock of Sena Kalyan Insurance rose 0.63 per cent to Tk 47.40 per share on the Dhaka Stock Exchange on Monday.
© 2024 - All Rights with The Financial Express
