Two-third gen insurance cos post rise in third quarter

FE Report | Published: November 06, 2018 10:37:12 | Updated: November 07, 2018 10:23:01


The earnings of most of the listed general insurance companies rose in the nine months to September last compared to that of the corresponding period last year.

According to the un-audited financial statements for the January-September period, 2018, the earnings per share (EPS) of 23 general insurance out of 35 increased, according to statistics from the Dhaka Stock Exchange (DSE).

EPS is the portion of a company's profit allocated to each share. In short, it serves as an indicator of a company's profitability.

Market insiders said general insurance companies' earnings rose as their premium income increased during the period.

The general insurance companies, whose EPS rose in January-June period of 2017 are: Bangladesh National Insurance, Central Insurance, Dhaka Insurance, Eastern Insurance, Eastland Insurance, Federal Insurance, Global Insurance, Green Delta Insurance, Islamic Insurance and Janata Insurance.

EPS of Karnaphuli Insurance, Mercantile Insurance, Nitol Insurance, Paramount Insurance, Pioneer Insurance, Pragati Insurance, Provati Insurance, Reliance, Sonarbangla Insurance, Standard Insurance, United Insurance, Rupali Insurance also increased during the period under review.

Among the general insurance companies, EPS of Pragati Insurance rose 63 per cent in January-September period of 2018. The company's EPS stood at Tk 2.10 for January-September, 2018 as against Tk 1.29 in the same period a year ago.

The EPS of Green Delta Insurance also rose 39 per cent to Tk 2.17 for January-September period of 2018 as against Tk 1.56 for the same period of the previous year.

Bangladesh National Insurance's EPS also increased 29 per cent to Tk 1.66 for January-September, 2018 which was Tk 1.29 in the same period of the previous year.

The EPS of Pioneer Insurance rose 28 per cent to Tk 2.83 for January-September period of 2018 against Tk 2.21 in the January-September period of 2017.

Reliance Insurance's EPS also rose 27 per cent to Tk 3.49 for January-September, 2018 which was Tk 2.75 in the same period of the previous year.

On the other hand, EPS of Agrani Insurance, Asia Insurance, Asia Pacific Insurance, Bangladesh General Insurance Company, City General Insurance, Northern Insurance, Peoples Insurance, Phoenix Insurance, Prime Insurance, Purabi General Insurance, Reliance Insurance and Takaful Insurance declined in January-September period of 2018 compared to the same period a year ago.

Of them Prime Insurance's EPS saw a biggest fall of 86 per cent to Tk 0.15 for January-September, 2018 which was Tk 1.05 in the same period of the previous year.

EPS of Peoples Insurance also plunged 46 per cent to Tk 0.88 for January-September, 2018 against Tk 1.64 in the same period of the previous year.

City General Insurance's EPS fell 43 per cent to Tk 0.77 for January-September, 2018 which was Tk 1.35 in January-September, 2017.

EPS of Purabi General Insurance also slumped 23 per cent to 0.79 for January-September, 2018 which was Tk 1.03 in the same period of the previous year.

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