Dhaka, Bangladesh (BBN)

The Insurance Development and Regulatory Authority (IDRA) issued a new regulation having these mandatory provisions for non-life insurance companies in order to secure investment return of the policyholders.

The 'Insurance (Non-life Insurers' Assets Investment and Preservation) Regulations-2019', was issued through a gazette notification on November 14.

After investing in the government securities–treasury bills (T-bills) and bonds – the non-life insurers or general ones can invest their remaining assets in nine specified sectors.

The sectors include deposits in A-rated scheduled banks, bonds issued for infrastructure development, debenture and securities issued by city corporations, debenture, mutual funds and unit funds approved by the Bangladesh Securities and Exchange Commission (BSEC), shares listed with stock exchanges, immovable asset located at city corporations and municipalities and in subsidiary companies.

In the previous regulations issued in 1958, no sector has been specified for investment of the non-life insurance companies.

Currently, there are 48 non-life insurance companies in the country and the accumulated assets of these companies stood at BDT 112.93 billion in 2018.

On the other hand, the government’s bank borrowing is set to be BDT 473.64 billion for the fiscal year (FY), 2019-20, up from BDT 308.95 billion in the previous year.

Under the arrangement, the government will borrow BDT 280.94 billion by issuing long-term bonds while the remaining BDT192.70 billion will come from T-bills.

Currently, four T-bills are being transacted through auctions to adjust the government’s borrowings from the banking system.

The T-bills have 14-day, 91-day, 182-day and 364-day maturity period.

Also, five government bonds with tenure of two-year, five-year, 10-year, 15-year and 20-year are traded on the market.

Dhaka, Bangladesh (BBN)- The board of directors of Peoples Insurance Company has recommended 10 percent cash dividend for the year ended on December 31, 2017, said an official disclosure on Monday.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on August 1 at Spectra Convention Centre in Dhaka.

The record date for entitlement of dividend is June 19.

The company has also reported earnings per share (EPS) of BDT 2.20, net asset value (NAV) per share of BDT 25.31 and net operating cash flow per share (NOCFPS) of BDT 2.93 for the year ended on December 31, 2017 as against as against BDT 2.46, BDT 24.31 and BDT 4.37 respectively for the same period of the previous year.

In 2016, the company also disbursed 12 percent cash dividend.

There will be no price limit on the trading of the shares of the bank on today following its corporate declaration.
Each share of the company, which was listed on the Dhaka bourse in 1990, closed at BDT 19.30 on Sunday at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is BDT 462 billion and authorised capital is BDT 2.0 billion while the total number of securities is 46.20 million.

The sponsor-directors own 21.08 percent stake in the company, while the institutional investors own 29.47 percent and the general public 49.45 percent as on March 31, 2018, the DSE data shows.

BBN/SSR/AD

Dhaka, Bangladesh (BBN)-The board of directors of Asia Insurance Limited has recommended 10 percent cash dividend for the year ended on December 31, 2017, said an official disclosure on Monday.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 11 in Dhaka.

The record date for entitlement of dividend is May 17.

The company has also reported earnings per share (EPS) of BDT 1.77, net asset value (NAV) per share of BDT 18.52 and net operating cash flow per share (NOCFPS) of BDT 1.61 for the year ended on December 31, 2017 as against BDT 1.63, BDT 17.86 and BDT 1.48 for the year ended in December 31, 2017.

In 2016, the company also disbursed 10 percent cash dividend.

There will be no price limit on the trading of the shares of the company on Monday following its corporate declaration.

Each share of the company, which was listed on the Dhaka bourse in 2009, closed at BDT 18.20 on Sunday at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is BDT 470.69 million and authorised capital is BDT 1.0 billion while the total number of securities is 47.06 million.

The sponsor-directors own 41.56 percent stake in the company, while the institutional investors own 32.45 percent and the general public 25.99 percent as on March 31, 2018, the DSE data shows.

BBN/SSR/AD

Dhaka, Bangladesh (BBN)- The board of directors of two more insurance companies have recommended dividend for the year ended on December 31, 2017, according to separate official disclosure on Sunday.

The companies are Eastland Insurance and Bangladesh National Insurance.

Eastland Insurance: The board of directors of Eastland Insurance Company Limited has recommended 7.50 percent cash and 7.50 percent stock dividend for the year ended on December 31, 2017.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 28 at 3:00pm at Golden Tulip-The Grandmark at Banani in Dhaka.

The record date for entitlement of dividend is May 15.

The company has also reported earnings per share (EPS) of BDT 2.17, net asset value (NAV) per share of BDT 23.21 and net operating cash flow per share (NOCFPS) of BDT 0.97 for the year ended on December 31, 2017 as against BDT 1.89, BDT 23.20 and BDT 0.85 respectively for the same period of the previous year.

In 2016, the company disbursed 10 percent cash and 5.0 percent stock dividend.

Each share of the company, which was listed on the Dhaka bourse in 1994, closed at BDT 21.50 on Thursday last at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is BDT 687.13 million and authorised capital is BDT 1.0 billion while the total number of securities is 68.71 million.

The sponsor-directors own 34.05 percent stake in the company, while the institutional investors 35.70 percent and the general public 30.25 percent as on March 31, 2018, the DSE data shows.

Bangladesh National Insurance: The board of directors of Bangladesh National Insurance Company has recommended 10 percent cash dividend for the year ended on December 31, 2017.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 25 in Dhaka.

The record date for entitlement of dividend is May 17.

The company has also reported EPS of BDT 1.64, NAV per share of BDT 17.05 and NOCFPS of BDT 2.86 for the year ended on December 31, 2017 as against BDT 1.62, BDT 16.15 and BDT 2.34 respectively for the same period of the previous year.

In 2016, the company also disbursed 10 percent cash dividend.

Each share of the company, which was listed on the Dhaka bourse in 2016, closed at BDT 16.40 on Thursday last at the Dhaka Stock Exchange (DSE).

The company’s paid-up capital is BDT 442.50 million and authorised capital is BDT 1.0 billion while the total number of securities is 44.25 million.

The sponsor-directors own 50.74 percent stake in the company, while the institutional investors 0.83 percent, foreign 0.19 percent and the general public 48.24 percent as on March 31, 2018, the DSE data shows.

There will be no price limit on the trading of the shares of these tow companies today following their corporate declarations.

BBN/SSR/SR

Dhaka, Bangladesh (BBN)

BBN/SSR/SR

Dhaka, Bangladesh (BBN)

BBN/SSR/AD

Dhaka, Bangladesh (BBN)

The final approval of shareholders will come during the annual general meeting (AGM) scheduled to be held on June 30 at 11:30am at BCIC Auditorium in Dhaka.

The record date for entitlement of dividend is on May 7.

The company has also reported earnings per share (EPS) of BDT 1.50 for the year ended on December 31, 2016 as against BDT 1.37 for the same period a year ago.

The net asset value (NAV) per share of BDT 15.60 for the year ended on December 31, 2016 as against BDT 14.67 for the previous year.
And net operating cash flow per share (NOCFPS) of BDT 0.57 for the year ended on December 31, 2016 as against BDT 1.01 for the same period of the previous year.

There will be no price limit on the trading of the shares of the company today following its corporate declaration.
Each share of company, which was listed on the Dhaka bourse in 2007, closed at BDT 17.20 on Thursday at DSE.
In 2015, the company disbursed 10 per cent stock dividend.

The company’s paid-up capital is BDT 619 million and authorised capital is BDT 2.0 billion, while the total number of securities is 61.96 million.
Sponsor-directors own 39.82 percent stake in the company, while the institutional investors own 31.23 percent, foreigners 1.36 percent and the general public 27.59 percent as on March 31, 2017, the DSE data shows.
City General Insurance Company is a second generation non-life Insurance Company incorporated as public limited company on March 18, 1996 under the companies Act 1994.
The company obtained the certificate of Registration from the Chief Controller of Insurance Govt. of The People’s Republic of Bangladesh on March 31, 1996 for carrying Insurance business such as Fire, Marine, Motor & Miscellaneous insurance.
Later the company has been listed with Dhaka and Chittagong Stock Exchanges in last of 2007. Mr. Anwar Hossain is Chairman of the company.
He is a renowned businessman and the Group Chairman of Anwar Group of Industries. He is a former Member of Parliament.

BBN/SSR/SR

The dividend recommendation came at a meeting of the board of directors of the company held in Dhaka on Monday
The final approval will come during the annual general meeting (AGM) scheduled to be held on 15 September.
The record date is on August 8.

The insurer disbursed 15 percent cash and 10 percent stock dividend for the year ended on December 31, 2014.
There will be no price limit on the trading of the shares of the Company on Tuesday following its corporate declaration.

The company’s share hovered between BDT 57.10 and BDT 59.90 on Monday, before closing at BDT 57.40, advancing 1.22 percent over the previous session.

Prime Islami Life Insurance was listed on the Dhaka bourse in 2007. The life insurer belongs to the “A” category.
The sponsor-directors own 38.73 percent stake in the Prime Islami Life Insurance, while the institutional investors own 30.57 percent, foreign investors 0.16 percent and the general public own 30.54 percent as on April 30, 2016, according to DSE website information.

The company’s paid-up capital is BDT 290.67 million and authorized capital is BDT 500 million, while the total number of securities is 29,066,886. The total market cap of the company stood at BDT 1,671.35 million as on Monday.

BBN/SSR/AD