It is a broadly described annual report of Karnaphuli Insurance Company Limited in the year of 2014. During the financial year, The Company’s underwriting profit stands at Tk. 36,837,928/-. The fixed deposit rose to Tk. 556,474,824/-. Despite turmoil situation in the capital market, the company could achieve a profit of Tk. 1,718,280/- from the share market. During the period under review, the Company procured gross premium amounting to Tk. 274,832,716 against Tk. 265,141,594 in 2013 despite adverse economic condition and antagonistic political environment the growth of premium collection is 3.66%. The net profit after tax of the Company is Taka. 59,497,146 for the year 2014.
The Board of Directors of the Company recommended @7% cash dividend and @5% stock dividend to the shareholders out of the divisible profit of 2014, subject to the approval of the shareholders in the 28th annual general meeting to be held on 24th June 2014. 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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