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27th Annual General Meeting of the Bangladesh Insurance Association

The 27th Annual General Meeting (AGM) of the Bangladesh Insurance Association was held in the Hotel Purbani International, Dhaka on Thursday, the 18th December, 2014.

Chaired by Mr. Sheikh Kabir Hossain, President of Bangladesh Insurance Association, 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. 62,483 million in 2012 to Tk. 66,834 million in 2013 registering a growth of 6.96% percent.

The life fund of the private sector insurance companies increased to Tk. 221,789 million in 2013 from Tk. 194,551 million in 2012. The total investment rosed from Tk. 166,132 million in 2012 to Tk. 192,704 million in 2013. The total assets stood at Tk. 278,463 million in 2013 as against Tk. 224,084 million in 2012.

The gross premium income of private sector non-life insurance companies increased from Tk. 18,999 million in 2012 to Tk. 20,998 million in 2013 registering a growth of about 10.52%. The total assets stood at Tk. 50,375 million in 2013 as against Tk48,924 million in 2012. The total investment stood at TK. 28,393 million in 2013 as against Tk. 24,379 million as at 31st December, 2012.

The President in the meeting highlighted the Annual Report of 2013 and also highlighted some of the activities of the Association – (1) Seminar on Role of insurance industry in the Economic Development of the Country, (2) Contribution to ICC-Bangladesh for a Conference and BGMEA for summit on Apparels, (3) Registration of BIA office floor at Naya Paltan and Rajuk Plot at Uttara.

Dr. A.B.M. Zafar Ullah, Chairman, Padma Islami Life Insurance, Mr. A. Q. M. Wazed Ali, Managing Director Dhaka Insurance, Mr. Md. Hafizullah, Managing Director, Karnaphuli Insurance, Mr. K.A.M. Ferdous, Managing Director, Takaful Islami Insurance spoke on the occasion.

Mr. Nizam Uddin Ahmed, Chairman, Election Board introduced the newly elected members of the Executive Committee for 2015-2016 before the meeting.

The AGM was concluded followed by lunch in honour of representatives.