Reliance Insurance profits up but investment portfolio drags assets down
Reliance Insurance has posted Tk5.86 in earnings per share for 2022, up from Tk5.59 in the previous year.
The top-tier non-life insurer thanked its higher premium income for the profit growth, while higher agent commission expenses and reinsurance premiums caused a decline in its net operating cash flow.
Net asset value per share, however, slightly declined to Tk64.15 at the end of December 2022 from TK64.39 a year ago.
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This happened due to the drop in the market value of investments in securities and other investments, the company said in its stock exchange disclosure.
Reliance Insurance board has recommended a 25% cash dividend for its shareholders (Tk2.5 per share having a face value of Tk10/share) for last year.
Reliance Insurance shares were trading at Tk63.7 around 12:30pm on Monday.
