The 26th annual general meeting (AGM) of the Bangladesh Insurance Association (BIA) was held in the Hotel Purbani International in the city on Friday.
Chaired by Sheikh Kabir Hossain, President of BIA, the meeting was largely attended by the chairmen, managing directors and senior executives of member companies.
In the Annual Report, it was stated that the total premium income of private sector life insurance companies rose from Tk. 59,735 million in 2011 to Tk. 62,483 million in 2012 registering a growth of 4.60 per cent. The life fund of the private sector insurance companies increased to Tk. 194,551 million in 2012 from Tk. 164,229 million in 2011. The total investment rosed from Tk. 142,173 million in 2011 to Tk. 166,132 million in 2012. The total assets stood at Tk. 224,084 million in 2012 as against Tk. 188,547 million in 2011.
The gross premium income of private sector non-life insurance companies increased from Tk. 17,274 million in 2011 to Tk. 18,999 million in 2012 registering a growth of about 10 peer cent. The total assets stood at Tk. 48,924 million in 2012 as against Tk. 42,060 million in 2011. The total investment stood at TK. 24,379 million in 2012 as against Tk. 21,960 million as at 31st December, 2011.
Besides highlighting the activities of the Association in the Annual Report for 2012, the President also apprised the representatives some of the major activities of the Association in the year 2013 viz (1) holding of International Seminar on “Agriculture & Micro-Insurance: Experience in Afro-Asian Regions” on
10-11 February, 2013 in Dhaka inaugurated by the Hon’ble Prime Minister as Chief Guest, (2) shifting of BIA’s office to its own new premises at Hossain Tower(9th floor), Box Culvert Road, 116, Naya Paltan, Dhaka-1000, (3) Purchase of a plot of land allotted by Rajuk at Uttara 3rd phase.
M. Moyeedul Islam, Chairman, United Insurance Company Limited, Ataur Rahman Mazumder, Managing Director, Provati Insurance Company Limited, P.K. Roy, FCA, Managing Director, Rupali Insurance Company Limited & Member of the Executive Committee, Bangladesh Insurance Association, Md. Hafizullah, Managing Director, Karnaphuli Insurance Company Limited, Md. Ezhar Hossain, Managing Director, Prime Insurance Company Limited, A. Q. M. Wazed Ali, Managing Director, Dhaka Insurance Limited, M. Bari Chowdhury, Managing Director, Golden Life Insurance Limited, Biswajit Kumar Mondal, Deputy Managing Director, Rupali Life Insurance Company Limited and Abdul Khaleque, FCA, Deputy Managing Director, Fareast Islami Life Insurance Company Limited spoke on the occasion.
The meeting ended with a vote of thanks to the Chair wishing a happy new year 2014.