It is a broadly described annual report of Northern General Insurance Company Limited in the year of 2016. In the year ended on 31st December 2016, the Gross premium income of the company stood at Taka. 373.38 million against Taka. 351.49 million during the year 2015. Total Investment including FDR reached to Tk. 211.87 million during the year compared to Tk. 178.74 million in 2015 and Total Assets stood at Tk. 1,129.28 million against Tk. 1,110.65 million in 2015. Due to tremendous fall in the rate of interest/profit on fixed deposit during the year 2016 Investment Income stood at Tk. 14.41 million against Tk. 24.99 million in 2015. In spite of falls in investment income, the Company earned Net Profit before tax Tk. 93.72 million in 2016 against Tk. 90.26 million in 2015. During this year Company’s Earnings Per Share (EPS) stood at Tk. 1.71 (face value at Tk. 10/-) considering 3,87,81,465 issued shares including 12% stock dividend approved for the year ended 2015.
The Board of Directors recommended @10% Stock Dividend to the shareholders of the Company for the year ended 31st December 2016 subject to approval in the 21st AGM. 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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