Dhaka, Bangladesh (BBN)– Pragati Insurance Limited (PIL) has approved 20 per cent cash and 15 per cent stock dividends for its shareholders for the year 2008.

The approval came at the 23rd annual general meeting (AGM) of the company at the Officers’ Club in Dhaka on Sunday, the company said.

PIL Chairman Abdul Awal Mintoo presided over the meeting, while all board members and a large number of shareholders of the company were present on the occasion.

During the year 2008, the company earned a gross premium of Tk 979 million, which was 22 per cent higher than the previous year.

Profit before tax of the company was Tk 198.82 million against Tk 176.84 million of the previous year.

The company’s net claim settled during the year was Tk 49 million against Tk 58 million in 2007.

The PIL chairman said that the company’s performance had been satisfactory with 22 per cent increase in gross premium income. Major contributor to the growth was the motor insurance sector.

BBN/SS/SSR/AD-23June09-11:35am (BST)