Annual Report 2016 of Pragati Insurance Limited

It is a broadly described annual report of Pragati Insurance Limited in the year of 2016. During the year under report, Pragati Insurance Limited has deposited Taka. 229.35 million to the Government Exchequer as Corporate Income Tax, Withholding Tax, Stamp Duty, and VAT. The Company’s Gross premium income and Net premium income stood Tk. 1542 Million and Tk. 638 Million respectively during the year under review. Underwriting profit stood at Tk. 93.6 Million in 2016 which was Tk. 23.6 million in 2015, registering a remarkable growth of 296.3 percent. Despite facing all the odds the company has earned Tk. 0.50 million as capital gain out of share trading in 2016 against Tk. 15.24 million in 2015. the company’s net profit before tax stood at Tk. 186.26 million against Tk. 121.71 million in the year 2015. Pragati Insurance Ltd (PIL) profit after tax for the 2016 financial year was BDT 132.36 million, up 36.44 % than the previous year.

The Board of Directors has recommended @10% cash dividend to the shareholders of the company for the year 2016. 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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