The shareholders of Eastland Insurance approved 10% dividend (7% cash and 3% stock/bonus share) for the year 2020 as recommended by the Board of Directors.
The approval came in the 34th Annual General Meeting (AGM) of Eastland Insurance Co. Ltd that held virtually on Thursday, said a press release.
The Meeting was presided over by Mahbubur Rahman, Chairman of the Company where board directors, Executive Vice Chairman, Ghulam Rahman and Chief Executive Officer, Arun Kumar Saha also joined.
The Chairman presented the "Directors' Report", "Audited Financial Statements" of the Company with "Independent Auditor's Report" at the meeting.
He also informed that amid this pandemic situation Eastland Insurance earned gross premium of Tk859.50 million and settled claims amounting to Tk400.50 million during the 2020.
The Chairman also stated that the total assets of the company stood at Tk2,689.82 million as on December 31, 2020. Eastland Insurance, from the very inception has been maintaining transparency and ethics in its business policy, the chairman said.
In the previous years, the company was awarded with ''Best Corporate Award" by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) for four consecutive years and the "Best Presented Annual Report Award" by the Institute of Chartered Accountants of Bangladesh (ICAB) for 01 year.
The Chairman informed that credit rating of the Company for the year 2020 has been elevated to "AA+" (Double A plus) likewise the previous years by Credit Rating Information and Services Ltd (CRISL).
The Chairman expressed profound gratitude to the Finance Ministry, Insurance Development and Regulatory Authority (IDRA), Bangladesh Securities and Exchange Commission, DSE, CSE, SBC, NBR, Bangladesh Insurance Association (BIA) and other agencies, valued clients and the shareholders for their continuous support to Eastland.
Besides the Members of the Board of Directors and senior Executives of the company, a large number of Shareholders also attended the meeting.