Pragati Insurance Ltd has declared 30% cash dividend for the year 2020 in its 35th annual general meeting on Thursday.
The virtual meeting was presided over by Syed M Altaf Hussain, Chairman of the company, said a press release.
Vice-Chairman of the Company Tabith Mohd. Awal, Members of the Board of Directors Abdul Awal Mintoo, Khalilur Rahman, Mohammed A Awwal, Md Syedur Rahman Mintoo, Mohammed Abdul Malek, NJ Chowdhury, Nasir Latif; independent directors Santosh Sharma, Hasinatun Naher and CEO Md Rezaul Karim and a large number of shareholders are participated in the AGM.
The meeting approved the agenda of the 35th AGM through the e-voting of the shareholders.
During the year 2020 the company earned gross premium of Tk2,217.52 million while profit before tax was Tk365.37 million. Net claim settled during the year was Tk127.29 million against Tk138.47 million in 2019.
Underwriting profit stood at Tk320.21 million in 2020 and the total asset of the Company stood at Tk5144.46 million in 2020.
The Chairman said in his speech that underwriting profit stood at Tk320.21 million in 2020. The EPS increased at Tk4.07 in this year which was at Tk3.19 in the year 2019.
He said that "This success which has come in to being due to the contribution of our valued clients, right direction of the board of directors, hardworking of the management and the all officers and employees of the company. I and the Board of Directors also remember their contribution with due respect."
The Company Secretary, CFO and CEO replied the various comments given by the shareholders.
A large number of shareholders participated in the meeting through digital platform and expressed their full satisfaction with the performance of the Company. The meeting was conducted by company secretary, Syed Anisul Hoque.
The meeting elected 4 directors from sponsor shareholders Syed M Altaf Hussain, Abdul Awal Mintoo, Mohammed Abdul Malek and Nahreen Siddiqua.
The meeting also elected 3 directors from public shareholders they are: ASM Mohiuddin Monem, Syed Muhammad Jan and Tajwar Mohammed Awal.
The meeting also approved the appointment of an Independent director Muhammad Jamaluddin.