It is a broadly described annual report of Pragati Life Insurance Limited in the year of 2012. In the year 2012, the company contributed Tk. 3.68 core to national exchequer as Tax and VAT deducted as the source from employees, suppliers, and uses of policy stamp. Payment to the policyholder in the year 2012 was Taka. 589.26 million as against Taka. 483.01 million in the year 2011 is an increase of 22%. Investment income earned a net 8.52% return this year compared to 6.33% in 2011. Company’s excess of income over outgo added to the Life Fund during this year is Taka. 559.34 million. The total Life Fund stands at Taka. 3,153.14 million which is 22 % more than 2011. The corporate tax charge for the company is 42.5%. We made a tax provision by Tk. 12.5 million in 2012. The estimated cost of bonuses for Policyholders is Tk. 86.36 million for 2012 compared to Tk. 74.33 million for 2011 showing a growth of 16.18%.
Accordingly, the Board of Directors recommended Cash dividend @ 7% and stock dividend @ 5% for the year 2012, subject to the approval of the Shareholders. 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.
More Annual Report of Pragati Life Insurance Limited:
- Annual Report 2010 of Pragati Life Insurance Limited
- Annual Report 2011 of Pragati Life Insurance Limited
- Annual Report 2012 of Pragati Life Insurance Limited
- Annual Report 2013 of Pragati Life Insurance Limited
- Annual Report 2015 of Pragati Life Insurance Limited
- Annual Report 2016 of Pragati Life Insurance Limited