The 31st Annual General Meeting (AGM) of the Bangladesh Insurance Association was held at the Samson H. Chowdhury Centre, Dhaka Club on Monday, the 3rd December, 2018.
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 increased from Tk. 70,954 million in 2016 to Tk. 77,318 million in 2017. The total assets of the private sector life insurance companies stood at Tk.370,565 million in 2017 as against Tk. 327,676 million in 2016.
The gross premium income of non-life private sector insurance companies increased from Tk. 25,393 million in 2016 to Tk.26,694 million in 2017 indexing a growth rate of 5.12%. 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 whereas Tk. 34,017 million in 2016.
The President of BIA invited the representatives of the insurance companies to discuss over the Annual Report 2017 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 2017 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, 2017.
(3) To appoint the auditors for the year 2018 and to fix their remuneration.
(4) To transact any other business with the permission of the Chair
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 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.