Eastland Insurance okays 10pc dividend

34thAnnual General Meeting (AGM) of Eastland Insurance Co. Ltd. was held on Thursday on virtual platform.  The Meeting was presided over by Mr. 

MahbuburRahman, Chairman of the Company presided over the meeting while a good number of Directors of the Board, Executive Vice Chairman, GhulamRahman& Chief Executive Officer MrArun Kumar Saha were also joined among others.

The Chairman presented the “Directors’ Report”, “Audited Financial Statements” of the Company for the year ended December 31, 2020 together with “Independent Auditor’s Report” thereon at the meeting. 

He also informed the shareholders that the world economy has become squeezed due to the deadly effect of Covid-19. Amid this pandemic situation Eastland Insurance earned gross premium of Tk.  859.50 million,and settled claims amounting to Tk. 400.50 million during the 2020. T

The Chairman also stated that, thetotal Assets of the Company stood at Tk.2,689.82 million as on December 31, 2020. The Shareholders approved total 10% Dividend (7% Cash Dividend and 3% Stock Dividend/bonus share) for the year 2020 as recommended by the Board of Directors. 

The Chairman informed that credit rating of the Company for the year 2020has been elevated to “AA+” (Double A plus)likewise the previous years by Credit Rating Information and Services Ltd. (CRISL). The Company is committed to strive hard to maintain the achievement further to reach the pinnacle of rating within soonest possible time.

Besides the Members of the Board of Directors & senior Executivesof the company,a large number of Shareholders were also joined in the virtual Annual General Meeting.