It is a broadly described annual report of Karnaphuli Insurance Company Limited in the year of 2016. During the financial year, The Company’s Gross Premium Income raised to Tk. 29,48,71,592 showing increase index of premium Tk. 1,41,14,127 over last year. The growth of premium collection is 5.02%. The paid-up capital of the company as at present stands to Tk. 40,70.09,590 and property worth to Tk. 123,13,33,304 amount in relation to FDR as at present is Tk. 64,51,84,824. Gross Income for the year 2016 stood Tk. 98,006,822 against Tk. 61,878,199 in 2015 Net Profit before tax Tk. 80,253,254 out of which underwriting profit is Tk. 40,051,940 in 2016 against Tk. 35,981,299 in 2015. The Company earned a premium of Tk. 294,871,592 for the year 2016 against Tk. 280,757,465 in 2015. Out of this Tk. 252,415,098 came from private sector. After ceding Tk. 13,272,350 as re-insurance premium, the net premium income for the year amounted to Tk. 162,144,242 against Tk. 148,081,421 in 2015.
The Board of Directors of the Company recommended @10% cash dividend to the shareholders out of the surplus available for distribution at the end of the year 2016, subject to the approval of the shareholders in the 30th annual general meeting to be held on 19th June 2017. 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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