Annual Report 2016 of Pragati Life Insurance Limited

It is a broadly described annual report of Pragati Life Insurance Limited in the year of 2016. The corporate tax charge for the company is 40%. The Company made a tax provision of Tk. 25 million in 2016. Payment to policyholders in the year 2016 was Taka. 1,228 million as against Taka. 1,170 million in the year 2015 is an increase of 5%. Pragati Life Insurance Limited earned Taka. 2,553.31 million as at December 31^st, 2016 as against Taka. 2,328.27 million as at December 31^st, 2015 registering an increase of 10%. The gross premium income during 2016 stood at Taka. 2,204.97 million from Taka. 1,989.78 million in 2015 registering a growth of 11%. The life fund stood at Taka. 4,761.13 million as of December 31^st, 2016 whereas it was Taka. 4,260.15 million as at December 31^st, 2015 i.e., an increase of 12%. The total investment income made by Pragati Life Insurance Limited rosed to Tk. 370.78 million in 2016 from Tk. 344.07 million in 2015 registering an increase of 8%.

The Board of Directors recommending total dividend at the rate of @25% (percent) the Board has also approved the Policy Bonus as recommended by the Actuary for valued policyholders on the basis of Actuarial Valuation Report. 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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