The total premium income of private sector life insurance companies increased from Tk. 77,318 million in 2017 to Tk. 84,758 million in 2018. The total assets of the private sector life insurance companies stood at Tk.363,942 million in 2018 as against Tk. 346,521 million in 2017.
According to the latest annual report of Bangladesh Insurance Association (BIA), the gross premium income of non-life private sector insurance companies increased from Tk. 26,694 million in 2017 to Tk.30,347 million in 2018 registering a growth rate of 13.68 per cent. The total assets stood at Tk. 79,774 million in 2018 whereas it was Tk. 75,495 million in 2017.
The total investment stood at Tk. 38,036 million in 2018 while it was Tk. 38,635 million in 2017.
The latest disclosures came in the 32nd Annual General Meeting (AGM) of BIA held at Dhaka Club on Tuesday, said a statement.
The meeting was presided over by Sheikh Kabir Hossain, president, of BIA. The chairmen, directors and chief executive officers of the insurance companies attended.
The AGM approved the Annual Report of 2018 on the activities of the BIA and adopted the audited accounts of the Association and the report of the auditors for the year ended 31st December, 2018.
Mr. A.K.M. Monirul Hoque, Vice-President, BIA; Mr. Muzzaffar Hossain Paltu, Chairman, Union Insurance; Maj. Gen. Abdul Hafiz Mollik, PSC (Retd), Chairman, Best Life Insurance; Mr. M.G. Quddus, Chairman, Rupali Insurance; Mr. Nasir A. Choudhury, Advisor, Green Delta Insurance; Alhaj Md. Ismail Nawab, Vice Chairman, Islami Insurance Bangladesh; Mr. P.K. Roy, FCA, Chief Executive Officer, Rupali Insurance, Ms. Farzanah Chowdhury, Chief Executive Officer, Green Delta Insurance; and Mr. A. Q. M. Wazed Ali, Chief Executive Officer, Dhaka Insurance spoke on the occasion.