It is a broadly described annual report of Prime Islami Life Insurance Limited in the year of 2014. In 2014, The Company has contributed Tk. 60.60 million on account of Corporate Tax, Tk. 7.35 million on account of the VAT to the national exchequer and Tk. 7.95 million on account of annual registration charge to the regulatory authority. During the year life fund comes to Tk. 7120 million against Tk. 6217 million with 14.52% growth, the investment has reached to Tk. 5556 million from Tk. 4909 million being 13.18% growth and total assets of the Company have reached to Taka. 7985 million against Taka.7026 million with 13.65% growth. The Company earned a total surplus of Tk. 672.58 million and after allocation of 90% of policyholders’ portion Tk. 66.39 million remained for shareholders including previous year’s reserve out of which Tk. 66.06 million has been recommended for the declaration of dividend by the Actuarial Consultant to the shareholders which in terms of percentage comes to 25% for the year-2014.
The Board of Directors in its 146th meeting recommended @15% (fifteen) cash and @10% (ten) stock dividend to the shareholders of the Company. 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.
Annual Report of Prime Islami Life Insurance Limited: