The total premium income of private life insurance companies increased to Tk 77,318 million in 2017 against Tk 70,954 million in 2016.
The total assets of the private life insurance companies also rose to Tk 370,565 million in 2017 as against Tk 327,676 million in 2016.
The figures were disclosed at the latest annual report of Bangladesh Insurance Association, placed in the 31st Annual General Meeting (AGM) of the association held at Dhaka Club on Monday.
The gross premium income of non-life private insurance companies increased from Tk 25,393 million in 2016 to Tk 26,694 million in 2017 registering a growth rate of 5.12 per cent.
The total assets stood at Tk 75,495 million in 2017 whereas it was Tk 67,847 million in 2016. The total investment stood at Tk 38,635 million in 2017 while, it was Tk 34,017 million in 2016.
The AGM was presided over by Sheikh Kabir Hossain, president, Bangladesh Insurance Association. The Chairmen, Directors and Chief Executive Officers of insurance companies also attended.
The representatives of the insurance companies discussed different aspects of the Annual Report 2017 as well as highlighted some of the activities of the Association in the meeting.
The AGM adopted the audited accounts of the Association and the report of the auditors for the year ended on 31st December, 2017.
Prof. Rubina Hamid, First Vice-President & Mr. A.K.M. Monirul Hoque, Vice-President of Bangladesh Insurance Association, Mr. Nizam Uddin Ahmed, Chairman, Meghna Life Insurance & Karnaphuli Insurance, Maj. Gen. Abdul Hafiz Mollik, PSC (Retd), Chairman, Best Life Insurance, Mr. Nasir Uddin Ahmed, Vice-Chairman, Karnaphuli Insurance, Brig. Gen. Shafique Shamim, Psc(retd) Chief Executive Officer , Sena Kalyan Insurance, Mr. P.K. Roy, FCA, Chief Executive Officer, Rupali Insurance, Ms. Farzana Chowdhury, ACII(UK), Chief Executive Officer, Green Delta Insurance delivered the speech about the development of the insurance industry in Bangladesh.
They also delivered the speech on the importance of finding out the problems of insurance industry and solving those with utmost professional sincerity.