Four insurance cos declare dividends for 2023

Four general insurance companies have declared dividends and published the annual accounts for the year ended on 31 December 2023.

Crystal Insurance recommended a 7% cash and 10% stock dividend, while City General Insurance declared 12% cash, and Reliance Insurance and Green Delta Insurance each declared a 25% cash dividend to their shareholders, according to their stock exchange filings.

Of the companies, three registered profit growth, while one company experienced a decline in profits last year.

Crystal Insurance Company Ltd has scheduled its annual general meeting for 31 March, with the record date set as 12 March, enabling shareholders to qualify for participation in the meeting.

The company has also reported earnings per share (EPS) of Tk3.05 in the last year, up from Tk2.72 recorded a year earlier.

City General Insurance has fixed 28 March for its annual general meeting, and the record date is 12 March.

Its EPS was Tk3.02 in 2023, which was 34% higher than the previous year.

The company attributed the increase in its EPS to a substantial growth in its underwriting profit and additional income.

The annual general meetings of Reliance Insurance and Green Delta Insurance will be held on 31 March and the record date has been fixed at 6 March.

Reliance has reported EPS of Tk6.56 for the last year, up from Tk5.86 in the previous year, while Green Delta has recorded consolidated EPS of Tk6.11, which was 16% lower than the previous year.

Green Delta says its EPS has decreased due to an increase in the company's claim expenses.