It is a broadly described annual report of Pioneer Insurance Company Limited in the year of 2016. The company has contributed Taka. 306 million (Three hundred six million) to the National Exchequer during the year in the form of direct and indirect taxes and other mandatory contributions. The Company’s gross premium income grew year-on-year, albeit, modestly, by 10% posting Tk. 2,504.36 million compared to Tk. 2,283.54 million in the prior year. The company earned a net profit before tax Tk. 258.60 million in 2016 as against Tk. 266.81 million in 2015. Thus at the end of 2016, the total reservation amount will be Tk. 626.65 million as against Tk. 574.50 million at the end of 2015 which is a growth of 9%.
The Board of Directors of Pioneer Insurance Company Ltd. recommended declaration of dividend at the rate of @15% cash for the year ended 31st December 2016 subject to approval at the 21st Annual General Meeting. 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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