Asia Insurance’s profit falls by 36.5% in 2022

Asia Insurance Limited reported a 36.5 per cent year-on-year decline in its net profit in the year 2022.

The insurer posted Tk 9.84 crore in net profit in 2022, down from Tk 15.49 crore in the previous year, as per a filing posted on the Dhaka Stock Exchange (DSE) website on Monday.

The company’s earnings per share (EPS) decreased to Tk 2.09 for 2022 from Tk 3.29 for the previous year.

Despite the drop in earnings, Asia Insurance’s net asset value (NAV) per share increased to Tk 26.88 in 2022 from Tk 26.57 the year before.

However, in 2022, its net operating cash flow per share fell to Tk 4.73 from Tk 6.83 in the previous year.

The company’s board of directors recommended an 11 per cent cash dividend for its shareholders for the year ending on December 31, 2022.

The company had paid a cash dividend of 15 per cent for 2021, 12 per cent for 2020, and 10 per cent for 2019, 2018, 2017, 2016, 2015, and 2014.

Following its corporate declaration, the company’s shares were traded without a price cap on Monday.

Listed on the Dhaka Stock Exchange in 2009, the company’s shares closed at Tk 48.90 per share on the DSE trading floor on Monday.