It is a broadly described annual report of Phoenix Insurance Company Limited in the year of 2016. For the year 2016, the company deposited Taka. 2,134.16,021/- as tax, vat and income tax deducted at source from employees, clients, and suppliers whereas it was Taka. 4,36,69,313/- only in 2015. During the financial year, The Company’s Gross Premium Income stood at Tk. 652.18 million and underwriting Profit stood at Tk. 77.10 million and the net profit was at Tk. 126.15 million. The reserve fund builds up to Tk. 529,741,011/- registering 6% growth over the last year’s position. The Investment of the company stood at Tk. 597,678.947/- whereas last year it was Tk. 475,573.458/- only. The company continues to be one of the most profitable insurers in the industry with a Profit after Tax of Tk. 9,84,88,900/-.
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.