Prime Islami Life Insurance Limited announcements
319 Dhaka Stock Exchange announcements for Prime Islami Life Insurance Limited (PRIMELIFE) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (55).
- (Q3 Un-audited): As per consolidated life revenue account of the company for July to September, 2023, excess of total in
(Q3 Un-audited): As per consolidated life revenue account of the company for July to September, 2023, excess of total income over total expenses including claims (surplus) was BDT 13.19 million as against excess of total income over total expenses including claims (surplus) of BDT 46.88 million in the corresponding previous period of 2022. Whereas as per consolidated life revenue account of the company for January to September, 2023, excess of total expenses including claims over total income (cont.)
- Q3 Financials
(Continuation news of PRIMELIFE): (deficit) was BDT 794.09 million as against excess of total expenses including claims over total income (deficit) of BDT 944.91 million in the corresponding previous period of 2022. Accordingly, Balance of Life Insurance Fund was BDT 6,919.24 million as on September 30, 2023 as against BDT 7,132.62 million as on September 30, 2022 resulting a net decrease of BDT 213.38 million. (end)
The first part of this announcement is missing from the archive. - Alpha Credit Rating Limited (Alpha Rating) has assigned the Surveillance rating of the Company as \"A+\" in the long ter
Alpha Credit Rating Limited (Alpha Rating) has assigned the Surveillance rating of the Company as \"A+\" in the long term and \"ST-2\" in the short term along with Stable outlook based on the audited financial statements as on December 31, 2022 and relevant qualitative information till October 16, 2023.
- 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 18, 2023 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2023.
- The auditor of the Prime Islami Life Insurance Ltd. has given the \"Qualified Opinion\" and \"Emphasis of Matter\" parag
The auditor of the Prime Islami Life Insurance Ltd. has given the \"Qualified Opinion\" and \"Emphasis of Matter\" paragraphs in the Auditor\'s Report for the year ended December 31, 2022. To view the details, please visit: https://www.dsebd.org/assets/pdf/AuditorReport\%20of\%20Prime\%20Islami\%20Life\%20Insurance\%20Limited\%20for\%20the\%20year\%20ended\%20on\%2031\%20December\%202022..pdf
- Resumption after Record date
Trading of the shares of the company will resume on 01.10.2023.
- Suspension for Record date
Trading of the shares of the company will remain suspended on record date i.e., 27.09.2023.
- 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 from 25.09.2023 to 26.09.2023 and trading of the shares will remain suspended on record date i.e., 27.09.2023.
- (Q1 Un-audited): As per consolidated life revenue account of the company for January to March, 2023, excess of total exp
(Q1 Un-audited): As per consolidated life revenue account of the company for January to March, 2023, excess of total expenses including claims over total income (deficit) was BDT 751.18 million as against excess of total expenses including claims over total income (deficit) of BDT 901.51 million in the corresponding previous period of 2022. (cont.)
- (Q2 Un-audited): As per consolidated life revenue account of the company for April to June, 2023, excess of total expens
(Q2 Un-audited): As per consolidated life revenue account of the company for April to June, 2023, excess of total expenses including claims over total income (deficit) was BDT 56.10 million as against excess of total expenses including claims over total income (deficit) of BDT 90.27 million in the corresponding previous period of 2022. Whereas as per consolidated life revenue account of the company for January to June, 2023, excess of total expenses including claims over total income (deficit) (cont.)
- Q1 Financials
(Continuation news of PRIMELIFE): Accordingly, Balance of Life Insurance Fund as on March 31, 2023 was BDT 6,962.15 million as against BDT 7,176.01 million as on March 31, 2022 resulting a net decrease of BDT 213.86 million. (end)
The first part of this announcement is missing from the archive. - Q2 Financials
(Continuation news of PRIMELIFE): was BDT 807.29 million as against excess of total expenses including claims over total income (deficit) of BDT 991.79 million in the corresponding previous period of 2022. Accordingly, Balance of Life Insurance Fund was BDT 6,906.04 million as on June 30, 2023 as against BDT 7,085.74 million as on June 30, 2022 resulting a net decrease of BDT 179.70 million. (end)
The first part of this announcement is missing from the archive. - Dividend Declaration
The Board of Directors has recommended No Dividend for the year ended December 31, 2022. Date of AGM: 06.11.2023, Time: 12:00 PM, Venue: Digital Platform. Record Date: 27.09.2023.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (07.09.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- 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 September 05, 2023 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended March 31, 2023 and Second Quarter (Q2) period ended June 30, 2023.
- 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 September 05, 2023 at 3:30 PM to consider, among others, audited financial statements of the Company for the year ended December 31, 2022.
- Sale of Land at Banglamotor, Dhaka
The company has informed that the Board has decided to sell land along with building of the Company measuring area 36.12 decimals at 112, Kazi Nazrul Islam Avenue, Banglamotor, Mauza-Bag Noadda, Police Station-Ramna, District-Dhaka to settle Policyholders claims payments. The company has also informed that the said decision of the property has been pre-approved by Insurance Development and Regulatory Authority (IDRA).
- Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended December 31, 2021 to the respective shareholders.
- Query Response
In response to a DSE query dated June 11, 2023, the company has informed that there is no undisclosed price sensitive information of the company for recent unusual price hike and increase in volume of shares.
- Category Change
The Company will be placed in 'B' category from existing 'A' category with effect from May 30, 2023 as the Company has approved 2% cash dividend for the year ended December 31, 2021.
- The company has requested the shareholders to update their Bank Accounts, Address, Mobile number, 12 digits e-TIN number
The company has requested the shareholders to update their Bank Accounts, Address, Mobile number, 12 digits e-TIN number through their respective DP. The Record Date is. 17.04.2023. Merchant Banks and Brokerage Houses are also requested to provide a statement with details (Shareholders\' name, BO ID number, 12 digits e-TIN Number, Number of shares held, Gross dividend receivable, applicable tax rate) of their margin loan holders who hold shares of the Company (cont.)
- Update of Information
(Continuation news of PRIMELIFE): on the record date along with the name and mobile number of the contact person within May 10, 2023 and soft data to e-mail [email protected]. (end)
The first part of this announcement is missing from the archive. - Resumption after record date
Trading of the shares of the company will resume on 18.04.2023.
- Suspension for record date
Trading of the shares of the company will remain suspended on record date i.e., 17.04.2023.
- 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 13.04.2023 to 16.04.2023 and trading of the shares will remain suspended on record date i.e., 17.04.2023.
- Valuation Report
The Company has informed that the Board of Directors has approved the valuation report of the company as on December 31, 2020. As per valuation report, Net Liability: BDT 13,879,780,511.00; Surplus/Deficit: BDT (5,512,056,095.00); Balance of Life Insurance Fund: BDT 8,367,724,416.00.
- Dividend Declaration
The Board of Directors has recommended 2% cash dividend for the year ended December 31, 2021. Date of AGM: 29.05.2023, Time: 12:00 PM, Venue: Digital Platform. Record Date: 17.04.2023.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (27.03.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- Board Meeting for declaration of dividend
Refer to their earlier news disseminated by DSE on decision regarding Board meeting schedule under LR 19(1), the Company has further informed that a meeting of the Board of Directors will be held on March 23, 2023 at 3:00 PM, among others, to declare dividend for the year ended December 31, 2021.
- The auditor of the Prime Islami Life Insurance Ltd. has given the \"Qualified Opinion\" & \"Emphasis of matters\" paragr
The auditor of the Prime Islami Life Insurance Ltd. has given the \"Qualified Opinion\" & \"Emphasis of matters\" paragraphs in the Auditor\'s Report for the year ended 30 June, 2022. Basis for Qualified Opinion: a. The Company has reported investment in subsidiary (Prime Islami Securities Limited) Tk. 650 million for the year ended in note number # 13.3, simultaneously Tk. 192.99 million as dividend receivable from that Company reported in the (cont.1)
- (Continuation news of PRIMELIFE): note number # 15 and this is a carry forwarded balance from the year of 2018. During t
(Continuation news of PRIMELIFE): note number # 15 and this is a carry forwarded balance from the year of 2018. During the year 10 million dividend receivable has recovered whereas, maximum portion is in arrears from their subsidiary, as such there is momentous doubt over the retrievable amount which given in the note # 15 because the subsidiary has experienced loss from the last consecutive two years except current year and no hedonism (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): has made by the Company. b. The Company has reported in the financial statements in no
(Continuation news of PRIMELIFE): has made by the Company. b. The Company has reported in the financial statements in note #13.5.1 as investment in Zero Coupon Bond in Banglalion (10\% Convertible) Tk. 49.99 million since 14 March, 2013. These total amounts shown as an outstanding balance and there is significant doubt over the recoverability. Besides, the Company has not made any provisions in this regard as a result the assets and profits may be overstated. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): On the other hand, the Company has undertaken the process of arbitration on 3rd Octobe
(Continuation news of PRIMELIFE): On the other hand, the Company has undertaken the process of arbitration on 3rd October 2020 where, arbitrator appointed duly. c. The Company has reported Tk. 1678.04 million in the financial statements in note #13.7 as the short term investment in PFI Securities for the year ended 31 December, 2021; this is a carry forward balance since 2018 at the same time as the Company has not made any written (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): agreement on that amount of investment. Consequently, the Company has not made any pro
(Continuation news of PRIMELIFE): agreement on that amount of investment. Consequently, the Company has not made any provisions on this investment as consequence assets and profits may be overstated. Even so, the Company has filed case #1, 109/2020 and case #2, 164/2020 at High Court against PFI Securities for the above said amount. d. The Company has reported Tk. 877.15 million as a short term investment in Prime Islami Securities Limited (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): for the year ended 31 December, 2021 in note number # 13.8, whether, the actual invest
(Continuation news of PRIMELIFE): for the year ended 31 December, 2021 in note number # 13.8, whether, the actual investment is Tk. 795.65 million and the dividend is Tk. 111.49 million which has capitalized as per agreement. The Company has recovered 30 million from the aggregate balance amount (795.65+111.49 = 907.14) during this year. On the contrary, most of the portion shown as outstanding balance. (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): On the other point, there is a cloudy agreement on the investment return amount where,
(Continuation news of PRIMELIFE): On the other point, there is a cloudy agreement on the investment return amount where, mentioned profit sharing basis but no specific basis has been found. e.The Company has reported Tk. 150 million in the financial statements in note #13.9 as the short term investment in Sterling Group (within 4 Concerns) for the year ended 31 December, 2021, this is an outstanding balance since 2018 plus no written agreement has made for this investment. (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): The Company has not made any provisions on this irrecoverable balance as a consequence
(Continuation news of PRIMELIFE): The Company has not made any provisions on this irrecoverable balance as a consequence assets and profits overstated. However, the Company has filled case #1, 318/2020; case #2, 319/2020; case #3, 320/2020 and case #4, 321/2020 at High Court against Sterling Group for the above balance amount. f. Disclosure of the following item as required in the Notification of Bangladesh Securities and Exchange Commission (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): g. The Company fails to comply with the requirements of SRO 360-Ain 2019, Section-5 Da
(Continuation news of PRIMELIFE): g. The Company fails to comply with the requirements of SRO 360-Ain 2019, Section-5 Dated 19 November 2019 issued by IDRA where, mentioned that the Life Insurance Company should invest Govt. Securities at least 30\% amount on either Policyholder Liability or Insurer Assets. The Company has made an investment 31 December, 2021 of Tk. 176.8 million in Govt. securities whereas, the 30\% on Insurer balance is Tk. 2,530 million as per 31 December, 2020 (cont.10)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): as a result the deficit investment amount arises Tk. 2,353.21 million. h. Company fail
(Continuation news of PRIMELIFE): as a result the deficit investment amount arises Tk. 2,353.21 million. h. Company fails to comply with the requirements of SRO 360-Ain 2019, Schedule-Ka, Regulation 3 (6) serial number: 4, Dated 19 November 2019 issued by IDRA where, mentioned that the Life Insurance Company should invest in Immovable assets maximum 20\% amount on either Policyholder Liability or Insurer Assets. (cont.11)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): The Company has made an investment 31 December, 2021 of Tk. 2,777.67 million in Immova
(Continuation news of PRIMELIFE): The Company has made an investment 31 December, 2021 of Tk. 2,777.67 million in Immovable Assets whereas, the 20\% on Insurer balance is Tk. 1,686.67 million as per 31 December, 2020 as a result the over investment amount arises Tk. 1,090.99 million. i. The Company fails to comply with the requirements of SRO 360-Ain 2019, Schedule-Ka, Regulation 3 (6) serial number: 8, Dated 19 November 2019 issued by IDRA where, (cont.12)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): mentioned that the Life Insurance Company should invest in Subsidiary Company maximum
(Continuation news of PRIMELIFE): mentioned that the Life Insurance Company should invest in Subsidiary Company maximum 10\% amount on either Policyholder Liability or Insurer Assets. The Company 31 December, 2021 investment amount is Tk. 877.15 million in Subsidiary Company (Prime Islami Securities Limited) whereas, the 10\% on Insurer balance is Tk. 843.34 million as per 31 December, 2020 as a result the over investment amount arises Tk. 33.81 million. (cont.13)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): j. The Company fails to comply with the requirements of SRO 360-Ain 2019, Schedule-Ka,
(Continuation news of PRIMELIFE): j. The Company fails to comply with the requirements of SRO 360-Ain 2019, Schedule-Ka, Regulation 3 (6) serial number: 9, Dated 19 November 2019 issued by IDRA where, mentioned that the Life Insurance Company should other investments maximum 5\% amount on either Policyholder Liability or Insurer Assets. The Company 31 December, 2021 investment amount is Tk. 1878.04 million as an other investments whereas, (cont.14)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): the 5\% on Insurer balance is Tk. 421.67 million as per 31 December, 2020 as a result
(Continuation news of PRIMELIFE): the 5\% on Insurer balance is Tk. 421.67 million as per 31 December, 2020 as a result the over investment amount arises Tk. 1456.34 million. Emphasis of Matters: a. We draw attention to the note no # 4.2 & 4.3 of the financial statements, where company represented 38.08\% shareholding by the Director/Sponsor whereas the requirement of S.R.O. No. 161-Law/2018, Schedule 1, Section 21, Dated 29 May 2018 (cont.15)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): that holding percentage at least 60\% of the paid-up capital. Our opinion is not modif
(Continuation news of PRIMELIFE): that holding percentage at least 60\% of the paid-up capital. Our opinion is not modified in this regard. b. We draw attention to the financial statements that the company failed to meet the requirement of S.R.O. No. 161-Law/2018, section 30 (1), Dated 29 May 2018 where stated that every insurer carrying on life insurance business shall, at least once in every year cause an investigation to be made by an Actuary into the financial condition (cont.16)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): of the life insurance business carried on by it, including a valuation of its liabilit
(Continuation news of PRIMELIFE): of the life insurance business carried on by it, including a valuation of its liabilities in such manner as may be prescribed by regulations and shall cause an abstract of the actuarial report to be made in such form and manner as may be prescribed in regulations. But due to last year pandemic conditions the company was unable to made it. This section also provided that the Authority may, (cont.17)
The first part of this announcement is missing from the archive. - (Continuation news of PRIMELIFE): having regard to the particular circumstances of any insurer, allow it to have the inv
(Continuation news of PRIMELIFE): having regard to the particular circumstances of any insurer, allow it to have the investigation under this section made at any date not later than 2 (two) years from the date on which the previous investigation was made. As a result these also indicate that this is not a direct violation of the said law. Our opinion is not modified in this regard. (end)
The first part of this announcement is missing from the archive. - Qualified Opinion & Emphasis of matters
(Continuation news of PRIMELIFE): (BSEC) # BSEC/CMRRRCD/2006/208/Admin/81 dated 20 June 2018 have not been made in the accompanying financial statements: Reconciliation of net income or net profit with cash flows from operating activities making adjustments for non-cash items, for non-operating items and for the net changes in operating accruals, in addition to disclosures on direct method of cash flows applied. (cont.9)
The first part of this announcement is missing from the archive. - (Q2 Un-audited): As per consolidated life revenue account of the company for April to June, 2022, excess of total expens
(Q2 Un-audited): As per consolidated life revenue account of the company for April to June, 2022, excess of total expenses over total income (deficit) was BDT 108.21 million as against excess of total expenses over total income (deficit) BDT 219.50 million in the corresponding previous period 2021. Whereas life revenue account of the company for January to June, 2022, excess of total expenses over total income (Cont.)
- (Q3 Un-audited): As per consolidated life revenue account of the company for July to September, 2022, excess of total in
(Q3 Un-audited): As per consolidated life revenue account of the company for July to September, 2022, excess of total income over total expenses (surplus) was BDT 32.63 million as against excess of total income over total expenses (surplus) BDT 19.40 million in the corresponding previous period 2021. Whereas life revenue account of the company for January to September, 2022, excess of total expenses over total income (Cont.)
- Q1 Financials
(Q1 Un-audited): As per consolidated life revenue account of the company for January to March, 2022, excess of total expenses over total income (deficit) was BDT 885.25 million as against excess of total expenses over total income (deficit) BDT 866.13 million in the corresponding previous period 2021. Accordingly, Balance of Life Insurance Fund as on March 31, 2022 was BDT 7,176.01 million as against BDT 7,489.39 million as on March 31, 2021 resulting a net decrease of BDT 313.38 million.
- Q3 Financials
(Continuation news of PRIMELIFE): (deficit) was BDT 960.83 million as against excess of total expenses over total income (deficit) BDT 1,066.23 million in the corresponding previous period 2021. Accordingly, Balance of Life Insurance Fund as on September 30, 2022 was BDT 7,132.62 million as against BDT 7,260.96 million as on September 30, 2021 resulting a net decrease of BDT 128.34 million. (end)
The first part of this announcement is missing from the archive. - Q2 Financials
(Continuation news of PRIMELIFE): (deficit) was BDT 993.45 million as against excess of total expenses over total income (deficit) BDT 1,085.63 million in the corresponding previous period 2021. Accordingly, Balance of Life Insurance Fund as on June 30, 2022 was BDT 7,085.74 million as against BDT 7,262.26 million as on June 30, 2021 resulting a net decrease of BDT 176.52 million. (end)
The first part of this announcement is missing from the archive. - Decision regarding Board meeting schedule under LR 19(1)
The Company has informed that the Board of Directors has not taken decision regarding Dividend declaration in the board meeting held on January 11, 2023 at 3:00 PM on Wednesday due to unavailability of Actuarial valuation report. The Company has also informed that Dividend, Record date, Time and Venue of 22nd Annual General Meeting will be announced after receipt of valuation report and will be considered thereof in the board meeting.
- 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 January 11, 2023 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended March 31, 2022, Second Quarter (Q2) period ended June 30, 2022 and Third Quarter (Q3) period ended September 30, 2022 respectively.
- 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 January 11, 2023 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended December 31, 2021.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.