Credited the Stock Dividend for the year 2012 to the respective shareholders' BO Accounts on 10.04.2013.
The Board of Directors has recommended stock dividend @ 30% for the year ended on December 31, 2012. Date of AGM: 28.03.2013, Time: 11:30 AM, Venue: Samarai Convention Center, 23/G/7, Panthapath, Dhaka. Record Date: 13.03.2013. The Company has also reported net profit after tax of Tk. 153.39 million, EPS of Tk. 4.06, NAV per share of Tk. 23.29 and NOCFPS of Tk. 4.87 for the year ended on December 31, 2012.
(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2012 (July'12 to Sep'12), the Company has profit after tax of Tk. 13.85 million with EPS of Tk. 0.36 as against Tk. 77.03 million and Tk. 2.04 respectively for the same period of the previous year. Whereas profit after tax was Tk. 112.06 million with EPS of Tk. 2.96 for the period of nine months (Jan'12 to Sep'12) ended on 30.09.2012 as against Tk. 163.90 million and Tk. 4.33 respectively for the same period of the previous year.
As per un-audited half yearly accounts as on 30.06.12 (Jan'12 to June'12), the Company has profit after tax of Tk. 98.22 million with EPS of Tk. 2.60 as against Tk. 86.88 million and Tk. 2.30 respectively for the same period of the previous year. Whereas profit after tax was Tk. 51.01 million with EPS of Tk. 1.35 for the period of 3 months (Apr'12 to June'12) ended on 30.06.12 as against Tk. 45.78 million and Tk. 1.21 respectively for the same period of the previous year.
The Rating Committee of CRISL has announced the CPA (Claim Paying Ability) Rating of the Company as "AA" in consideration of financials of the Company up to 31st December 2011 (audited) and other relevant quantitative as well as qualitative information up to the date of rating declaration
(Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2012 (Jan'12 to Mar'12), the Company has profit after tax of Tk. 47.21 million with EPS of Tk. 1.25 as against Tk. 41.10 million and Tk. 1.09 (restated) respectively for the same period of the previous year.
Insurance industry in Bangladesh operates under the structured underwriting and tariff guidelines. The Central Rating Committee modifies tariff rates after every specified period. The above committee may adjust the tariff rate according to the performances of the specific sector and the client. Our underwriting department follows the circulars issued by the Central Rating Committee regarding premium rates and other terms & conditions. The underwriting department of the company is being led by a Deputy Managing Director having forty years of underwriting experience to his credit. He is being assisted by a Asst. Managing Director having 22 years of experience to his credit including working experience in foreign Insurance Company in the Middle East and a host of experienced Executives and Officers. The company has a regular practice to underwrite high valued (More than Tk.1 billion) risk assignment and have reputation in Risk Management Services and prudent underwriting since inception.
