It is a broadly described annual report of Pragati Life Insurance Limited in the year of 2013. In the year 2013, the Company contributed Tk. 5.22 Crore to national exchequer as Tax and VAT deducted at source from employees, suppliers, and uses of policy stamp. The corporate tax charge for the company is 42.5%. The Company made a tax provision by Tk. 10 million in 2013. The gross premium income during 2013 stood Taka. 1429 million against Taka. 1870 million in 2012. Payment to the policyholder in the year 2013 was Taka. 652 million as against Taka. 589 million in the year 2012 is an increase of 11%. Investment income earned a net 8.47% in 2013 return this year compared to 8.52% in 2012. The Life Fund during 2013 was Tk. 3570 million compared to Tk. 3153 million in 2012 showing a growth of 13.23%. The total investment income made by the Pragati Life Insurance Limited rose from Taka. 224.65 million in 2012 to Taka. 268.37 million in 2013 registering an increase of 19.47%.
Accordingly, the Board of Directors of the Company did not recommend any dividend to shareholders and bonus to Policyholders for the year 2013. 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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