Eastland Insurance holds 27th AGM

The 27th Annual General Meeting (AGM) of Eastland Insurance Co. Ltd was held on Sunday, 25th May, (2014 in Lakeshore Hotel), Dhaka-1212. 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, 2013 together with Auditors Report there on. The Chairman informed the meeting that the Company earned a gross premium of Tk. 700.38 million during the year 2013 through its 24 Branches which was 7.73 % higher than that of previous year.

The company during the last 27 years Settled claims for a total amount of Tk. 1497.49 million on account of Fire, Marine, Motor and Misc Insurance. Total assets of the Company as on Dec’ 2013 stood at  Tk. 1717.82 million. The Company approved 15% cash dividend and 10% Stock dividend (bonus share) for the year 2013.

The Chairman in his report expressed view that despite stiff market competition performance of the Company raised in 2013 in all areas of its operation due to maintaining of pragmatic and business friendly policy strictly adhering to regulatory principles and business ethics. Besides      the directors a large number of shareholders were present at the meeting.