Eastland Ins AGM proposes 20pc dividend

The 28^th Annual General Meeting (AGM) of Eastland Insurance Co. Ltd. was held on Sunday, 31^st May, 2015 in Spectra Convention Centre Limited, Dhaka. The Meeting was presided over by Mr. Mahbubur Rahman, Chairman of the Company.

The Chairman presented the report of the Directors, Audited Accounts of the Company for the year ended 31st December, 2014 together with Auditors Report there on. The Chairman informed the meeting that the Company earned a gross premium of Tk. 700.45 million during the year 2014. The company during the last 28 years Settled claims for a total amount of Tk. 1771.41 million on account of Fire, Marine, Motor and Misc Insurance. Total assets of the Company as on  Dec’ 2014 stood at Tk. 1783.95 million. The Company declared 10% cash dividend and 10% Stock dividend (bonus share) for the year 2014.

Eastland encompassing persisting ordeals maintained the dynamism and transparency in its business policy through service innovation due to which the Company was awarded with “Best Corporate Award” in the General Insurance sector for 2012, 2013 & 2014 by the Institute of Cost and Management Accountants of Bangladesh (ICMAB), the Company was also awarded with Certificate of Merit by the Institute of Chartered Accountants of Bangladesh (ICAB) for excellence in Insurance sector in 2014. The company has also been rated with “AA” by Credit Rating Information and Services Ltd. (CRISL) based on it’s financial statement consecutively for the years 2011, 2012 and 2013.

The Chairman expressed gratitude to IDRA, other Regulators valued Clients and the Shareholders for their continuous support extended towards functioning of the Company.

Besides Directors a large number of Shareholders were present at the meeting.