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. 

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.