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Eastland Insurance Company’s shareholders approved a 10 per cent cash dividend for 2021 as recommended by the board of directors.
The approval came at its 35th Annual General Meeting (AGM) virtually on Wednesday, said the insurer in a statement on Thursday.
Eastland Insurance Company Mahbubur Rahman presided over the meeting attended by Executive Vice Chairman Ghulam Rahman and Chief Executive Officer Abdul Haque.
The chairman presented the “Directors’ Report”, “Audited Financial Statements” of the company for the year ended December 31, 2021 together with “Independent Auditor’s Report” at the meeting.
Amid the pandemic situation, Eastland Insurance earned gross premium of Tk 1,011 million in 2021 and settled claims amounting to Tk 3,438.55 million during the long 35 years tenure, according to the statement.
The total assets of the company stood at Tk 2,650 million as of December 31, 2021, it said.
“Bangladesh Insurance market is small in size to run 46 non-life Insurance Companies. As a result the growth and profitability of companies are hindered and the insurance sector as a whole is failing to achieve expected growth,” said the chairman.
