The 30th Annual General Meeting (AGM) of the Bangladesh Insurance Association was held at the Samson H. Chowdhury Centre, Dhaka Club on Sunday, the 24th December, 2017.
The meeting was presided over by Mr. Sheikh Kabir Hossain, President, Bangladesh Insurance Association. The Chairmen, Directors and Chief Executive Officers of the Insurance Companies graced the occasion.
In the Annual Report, it was stated that the total premium income of private sector life insurance companies declined from Tk. 79,246.19 million in 2015 to Tk. 70,953.85 million in 2016. The total assets of the private sector life insurance companies stood at Tk.327,675.73 million in 2016 as against Tk.311,125.80 million in 2015.
The gross premium income of non-life private sector insurance companies increased from Tk. 24,307.85 million in 2015 to Tk.25,392.52 million in 2016 indexing a growth rate of 4.46%. The total assets stood at Tk. 67,846.62 million in 2016 whereas it was Tk. 63,035.95 million in 2015. The total investment stood at Tk. 34,016.84 million in 2016 whereas Tk. 32,164.19 million in 2015.
The President of BIA invited the insurance industry representatives to discuss over the Annual Report 2016 as well as highlighted some of the activities of the Association in the meeting. The following issues have been acknowledged to the meeting with consensus-
(1) To consider and adopt the Annual Report of 2016 on the activities of the Bangladesh Insurance Association.
(2) To adopt the audited accounts of the Association and the report of the auditors for the year ended 31st December, 2016.
(3) To appoint the auditors for the year 2017 and to fix their remuneration.
(4) To transact any other business with the permission of the Chair
Mr. Towhid Samad, Chairman, Bangladesh General Insurance, Mr. Nizam Uddin Ahmed, Chairman, Meghna Life Insurance & Karnaphuli Insurance, Mr. Monzurur Rahman, Chairman, Delta Life Insurance, Maj. Gen. Abdul Hafiz Mollik, PSC (Retd), Chairman, Best Life Insurance, Mrs. Qamrun Nahar, Director, Janata Insurance, Mr. Mojibul Islam, Vice-Chairman, Sandhani Life Insurance, Mr. Md. Fazlul Hoque Khan, Chief Executive Officer, Janata Insurance and Mr. Noor Mohammed Bhuiyan, Chief Executive Officer, Golden Life 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 the problems.
In the conclusion speech, the president Bangladesh Insurance Association invited all persons attended the programme to contribute for the development of Bangladesh insurance industry.
Mr. Sheikh Kabir Hossain, President, Bangladesh Insurance Association addressing the 30th Annual General Meeting held on 24th December, 2017 in the Dhaka Club. Other members of the Executive Committee of BIA are also seen in the Picture.