Annual Report 2012 of Pragati Insurance Limited

It is a broadly described annual report of Pragati Insurance Limited in the year of 2012. During the year under report, the Company has deposited Taka. 182 million to the Government Exchequer as corporate income tax, withholding tax, stamp, and VAT. The Company earned Gross premium income and Net premium income stood Tk. 1,151 million and Tk. 589 million respectively. Underwriting profit stood at Tk. 156 million in 2012 which was Tk. 89 million in 2011 registering a remarkable growth of 75.3%. After ceding for re-insurance premium the net premium for the year amount to Tk. 589,032,141 and after charging direct expenses there from the net Underwriting profit stood at Tk. 156,060,656 as against Tk. 89,319,849 of the previous year. After providing for all expenditures the company’s net profit before tax stood at Tk. 141 million against Tk. 133 million in 2011.

The Board of Directors has recommended @15% dividend (7.5% cash and 7.5% stock) to the shareholders of the company for the year 2012. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.

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