It is a broadly described annual report of Pioneer Insurance Company Limited in the year of 2014. The company has contributed Tk. 26 Crore (Taka twenty-six crore) to the National Exchequer during the year in the form of direct and indirect taxes and other mandatory contributions. During the financial year, Gross Underwriting Premium of the Company rose by 14% from Tk. 1,874.91million to Tk. 2,135.47 million. The company earned a net profit before tax Tk. 274.63 million in 2014 as against Tk. 297.84 million in 2013. The Company issued 25% stock during the year which added Tk. 127,237,500 to the paid-up share capital of the Company resulting in a total paid-up share capital of Tk. 636,187,500.
The Board of Directors of Pioneer Insurance Company Ltd. recommended declaration of dividend at the rate of @25% stock and @5% cash for the year ended 31st December 2014 amounting to Taka. 152,685,000.00 subject to approval in the 19th Annual General Meeting. 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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