City General's profit goes up 34% rising on premium income

The net profit of City General Insurance Company Limited posted 34% profit growth for the year 2022 due to a significant increase in premium income.

During the year, the net profit of the insurer stood at Tk15.34 crore, which was Tk11.45 crore in the same period of the previous year.

The general insurer has also declared a 10.5% cash dividend for their shareholders for the said year.

The company took the decision during a board meeting that took place on Monday (13 February).

The company is engaged in various types of non-life insurance businesses and it has automatic reinsurance arrangements.

Its earnings per share were Tk2.25, which was Tk1.68 in one year ago.

Its net asset value stood at Tk18.57 as of 31 December 2022.

The company has fixed its annual general meeting (AGM) on 30 March and its record date is also fixed on 7 March.

The company was listed on the bourses in 2007.

The share prices of the company dropped by 2.03% to Tk29 at 12.:47pm on Tuesday.