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Pragati Insurance Limited has organised its 38th annual general meeting (AGM) through a digital platform.
The meeting declared 20 per cent cash and 7.0 per cent stock dividend for the year 2023.
It approved the agenda of the AGM through the e-voting of the shareholders, says a media release.
In 2023, the company earned a gross premium of Tk 2341.53 million. Profit before tax was Tk 497.94 million. Net claim settled during the year was Tk 378.53 million against Tk 261.69 million in 2022. Underwriting profit stood at Tk 341.05 million in 2023. The total assets of the company stood at Tk 6340.9 million in 2023.
Syed M Altaf Hussain, chairman of Pragati Insurance Limited, presiding over the meeting held on Wednesday.
“The company has declared a total dividend of 27 per cent for the shareholders. It is a great success and this success which has come into being due to the contribution of our valued clients, the right direction of the board of directors, the hard work of the management and all officers and employees of the company. I and the board of directors also remember their contribution with due respect,” said the chairman.
Mr Tabith Awal, vice-chairman of the company, and members of the board of directors Mr Abdul Awal Mintoo, Mr Mohammed Abdul Awwal, Mr Mohammed Abdul Malek, Mr Nasir Latif, Syed Muhammad Jan, Mr Tajwar M Awal, Mrs Nigar Jahan Chowdhury, N Yeahea, Mr ASM Mohiuddin Monem were present at the AGM.
Among others, independent directors of the insurance company Mr Muhammad Jamaluddin, H Naher, Mr Mahbub Anam and Advisor Md Rezaul Karim, CEO Syed Sehab Ullah Al-Manjur(ACII), CFO Mr Amar Krishna Shil, Company Secretary Syed Anisul Hoque and a large number of shareholders participated in the 38th AGM through digital platform and expressed their satisfaction with the performance of the company.
The company secretary and CFO of the company replied to the various questions given by the shareholders.
The meeting was conducted by company secretary Syed Anisul Hoque.
The meeting re-elected three directors from sponsor shareholders. They are Mr Abdul Awal Mintoo, Mr Mohammed Abdul Malek and Haji Nigar Jahan Chowdhury.
The meeting also elected two directors from public shareholders. They are Mr Tajwar Muhammad Awal and Syed Muhammed Jan.