Bangladesh General Insurance Company PLC. announcements
350 Dhaka Stock Exchange announcements for Bangladesh General Insurance Company PLC. (BGIC) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (25).
- Dividend Disbursement
The Company has informed that it has disbursed the Cash Dividend for the year ended December 31, 2022 to the respective shareholders.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 0.30 for July-September 2023 as against Tk. 0.31 for July-September 2022; EPS was Tk. 1.57 for January-September 2023 as against Tk. 1.56 for January-September 2022. NOCFPS was Tk. 1.98 for January-September 2023 as against Tk. 2.10 for January-September 2022. NAV per share was Tk. 19.96 as on September 30, 2023 and Tk. 19.83 as on September 30, 2022.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on October 29, 2023 at 2:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2023.
- ARGUS Credit Rating Services Limited (ACRSL) has announced the CPA (Claim Paying Ability) rating of the Company as \"AAA
ARGUS Credit Rating Services Limited (ACRSL) has announced the CPA (Claim Paying Ability) rating of the Company as \"AAA\" for long term and \"ST-1\" for short term in consideration of financial statements of the Company up to December 31, 2022 (audited), Q2FY23 (unaudited) and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. 0.54 for April-June 2023 as against Tk. 0.55 for April-June 2022; EPS was Tk. 1.27 for January-June 2023 as against Tk. 1.25 for January-June 2022. NOCFPS was Tk. 1.16 for January-June 2023 as against Tk. 1.15 for January-June 2022. NAV per share was Tk. 20.85 as on June 30, 2023 and Tk. 20.41 as on June 30, 2022.
- Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on July 25, 2023 at 2:30 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended June 30, 2023.
- Resumption after record date
Trading of the shares of the company will resume on 21.06.2023.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 0.73 for January-March 2023 as against Tk. 0.71 for January-March 2022. NOCFPS was Tk. 1.68 for January-March 2023 as against Tk. 0.87 for January-March 2022. NAV per share was Tk. 20.10 as on March 31, 2023 and Tk. 20.25 as on March 31, 2022.
- Suspension for Record date
Trading of the shares of the company will remain suspended on record date i.e., 20.06.2023.
- The auditor of Bangladesh General Insurance Company Ltd. has given the \"Qualified Opinion & Emphasis of Matters\" parag
The auditor of Bangladesh General Insurance Company Ltd. has given the \"Qualified Opinion & Emphasis of Matters\" paragraphs in the Auditor\'s Report for the year ended December 31, 2022. \"Basis for Qualified Opinion: IDRA on 4th February 2021 issued a circular no: non-Life 84/2021 prohibiting any commission from Premium; on 24th October 2021 this circular has been withdrawn. On retail level premium collection and commission payment has been a noticed challenge. (cont.1)
- (Continuation news of BGIC): Our Audit Test Procedures identified differences in anticipated Premium Level and Actual Pr
(Continuation news of BGIC): Our Audit Test Procedures identified differences in anticipated Premium Level and Actual Premium collection in form XL and Note 8 to the Financial Statements, which would have a corresponding effect on the commission and claims as well. As reported in last year Audit Report, we could not obtain the fixed asset register of the Property, Plant and Equipment of the company shown in note no. 23.01 to the financial statements. (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of BGIC): Emphasis of Matters: We draw attention to note 3.23 (d) of the financial statements, which
(Continuation news of BGIC): Emphasis of Matters: We draw attention to note 3.23 (d) of the financial statements, which describes the reason for not establishing Worker\'s Profit Participation Fund by the Company according to Bangladesh Labour Act 2006 (as amended in 2013). We refer to note 3.23 (b) of financial statements, which shows that the Company has not performed any actuarial valuation on gratuity fund that is a noncompliance as per IAS 19. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of BGIC): We also refer to note no 25 \"Management Expenses\" which crossed the limit as per IDRA Cir
(Continuation news of BGIC): We also refer to note no 25 \"Management Expenses\" which crossed the limit as per IDRA Circular. A reconciliation difference has also been found between VAT return and Premium. Furthermore, as described in note no. 3.23 (a) of the financial statements, the management could not determine the forfeited amount of the provident fund due to non-availability of audit report. Our opinion is not modified in respect of these matters.\" (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of BGIC): Note # 3.23 Employee Benefits (a) Contributory Provident Fund: The Company operates a provi
(Continuation news of BGIC): Note # 3.23 Employee Benefits (a) Contributory Provident Fund: The Company operates a provident fund, recognized by the income Tax Authorities. Confirmed employees of the Company are eligible for the said provident fund. Employees of the Company contribute ten percent of their basic salary and the employer make similar contribution to the fund. The provident fund is wholly administered by a Board of Trustees (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of BGIC): and no part of the fund is included with the assets of the Company. Provident Fund has not
(Continuation news of BGIC): and no part of the fund is included with the assets of the Company. Provident Fund has not been audited since 2018. (b) Gratuity: The Company operates a gratuity scheme under which a regular confirmed employee is entitled to benefit at a graduated scale based on the length of service. The Length of service for the purpose of gratuity shall be reckoned from the date of joining in the regular service of the Company. (d) Workers Profit Participation Fund (WPPF) (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of BGIC): The company refers the mater of provision for Worker Profit Participation Fund (WPPF) and l
(Continuation news of BGIC): The company refers the mater of provision for Worker Profit Participation Fund (WPPF) and like to clarify that as per provision of para (A to G) of section 233 Bangladesh Labour Amendments Act 2013, functions of Non-life Insurance Companies are not similar to the functions of Industrial Relating Works as mentioned in the aforesaid section. Note # 23.01 Fixed Assets (at Cost Less Accumulated Depreciation). (cont.7)
The first part of this announcement is missing from the archive. - Spot News
Trading of the shares of the company will be allowed only in the Spot Market and Block transaction will also be settled as per spot settlement cycle with cum benefit from 18.06.2023 to 19.06.2023 and trading of the shares will be suspended on record date i.e., 20.06.2023.
- Qualified Opinion & Emphasis of Matter
(Continuation news of BGIC): The closing balance of Fixed Assets (at Cost Less Accumulated Depreciation) as on 31 December 2022 and 31 December 2021 was Taka 200,551,966.00 and Taka 170,186,755.00 respectively. Note # 25.00 Management Expenses: The total amount of Management Expenses for the year ended on 31 December 2022 and 31 December 2021 were Taka 289,779,308.00 and Taka 262,287,304.00 respectively. (end)
The first part of this announcement is missing from the archive. - Board Meeting schedule under LR 16(1)
As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on June 18, 2023 at 2:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended March 31, 2023.
- The company has requested the shareholders bearing BO Account to update their respective account with 12-digit e-TIN and
The company has requested the shareholders bearing BO Account to update their respective account with 12-digit e-TIN and any other changes through their Depository Participant (DP), and requested the shareholders bearing Folio Numbers to submit their E-TIN Certificate to the Share Department of the Company latest by June 19, 2023; failing of which Income Tax will be deducted at source @ 15\% instead of 10\% from cash dividend as per Income Tax ordinance 1984. (cont.)
- Dividend Declaration
The Board of Directors has recommended 12% cash dividend for the year ended December 31, 2022. Date of AGM: 03.08.2023, Time: 11:00 AM, Venue: Digital Platform. Record Date: 20.06.2023. The Company has also reported EPS of Tk. 1.53, NAV per share of Tk. 19.17 and NOCFPS of Tk. 1.85 for the year ended December 31, 2022 as against Tk. 1.92, Tk. 19.63 and Tk. 2.28 respectively for the year ended December 31, 2021.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (30.05.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- Update of Information
(Continuation news of BGIC): The company has also requested Depository Participants (DPs) to provide the details (shareholder's name, BO ID, shareholding position, applicable tax rate, dividend amount, bank name, account No., routing No., etc.) of the Margin Loan Holders who hold company's shares on the Record Date to share Office at 42, Dilkusha C/A, Dhaka. (end)
The first part of this announcement is missing from the archive. - Board Meeting schedule under LR 19(1)
As per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the company has informed that a meeting of the Board of Directors will be held on May 29, 2023 at 2:30 PM to consider, among others, audited financial statements of the company for the year ended December 31, 2022.
- Query Response
In response to a DSE query, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike of shares.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.