Union Insurance Co. Ltd. announcements
100 Dhaka Stock Exchange announcements for Union Insurance Co. Ltd. (UNIONINS) since 2022: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (21).
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 1.13 for July-September 2023 as against Tk. 0.80 for July-September 2022; EPS was Tk. 2.83 for January-September 2023 as against Tk. 1.81 for January-September 2022. NOCFPS was Tk. 0.29 for January-September 2023 as against Tk. 0.72 for January-September 2022. NAV per share was Tk. 19.40 as on September 30, 2023 and Tk. 16.66 as on December 31, 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 3:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2023.
- Query Response
In response to a DSE query dated September 25, 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.
- WASO Credit Rating Company (BD) Ltd. has assigned the Surveillance rating of the Company as \"AA+\" for long term and \"
WASO Credit Rating Company (BD) Ltd. has assigned the Surveillance rating of the Company as \"AA+\" for long term and \"ST-1\" for short term along with Stable outlook based on audited financial statements of FY2022 and other relevant qualitative and quantitative information.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. 0.81 for April-June 2023 as against Tk. 0.42 for April-June 2022; EPS was Tk. 1.70 for January-June 2023 as against Tk. 1.01 for January-June 2022. NOCFPS was Tk. 0.10 for January-June 2023 as against Tk. 0.50 for January-June 2022. NAV per share was Tk. 18.27 as on June 30, 2023 and Tk. 16.66 as on December 31, 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 30, 2023 at 3:00 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 24.07.2023.
- Suspension for Record date
Trading of the shares of the company will be suspended on record date i.e., 23.07.2023.
- 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 19.07.2023 to 20.07.2023, and trading of the shares will be suspended on record date i.e., 23.07.2023.
- The auditor of Union Insurance Company Limited has given the \"Qualified Opinion\" and \"Emphasis of Matters\" paragraph
The auditor of Union Insurance Company Limited has given the \"Qualified Opinion\" and \"Emphasis of Matters\" paragraphs in the Auditor\'s Report for the year ended December 31, 2022. \"Basis for Qualified Opinion: 1. Gross general insurance premiums comprise the total premiums received for the whole period of cover provided by contracts entered into during the accounting period. However, while analysing and verifying the premiums received, we have observed deficiencies and control lapses. (cont.1)
- (Continuation news of UNIONINS): 2. Claims due or intimated from the insured involves significant management judgement a
(Continuation news of UNIONINS): 2. Claims due or intimated from the insured involves significant management judgement and risk of understatement. However, while reviewing the claims paid during the year and outstanding claims as of December 31, 2022, we observed variances and control lapses in the approval and recording process. Also, we could not confirm the closing balances of \"Amount due to other bodies carrying on insurance businesses\" and \"Amount due from other bodies carrying on insurance (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of UNIONINS): businesses\". 3. The provision for income tax and deferred tax has to be maintained fol
(Continuation news of UNIONINS): businesses\". 3. The provision for income tax and deferred tax has to be maintained following IAS 12 (Income Tax). However, while verifying the provisions and expenses we observed variances and also we came to observe that the tax assessment orders are pending or in the process of appeal. Therefore, we could not confirm the additional tax obligations.\" \"Emphasis of Matters: a) The provisions for the expenses has to be maintained following the IAS 37. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of UNIONINS): (Provisions, Contingent Liabilities, and Contingent Assets). However, we have observed
(Continuation news of UNIONINS): (Provisions, Contingent Liabilities, and Contingent Assets). However, we have observed irregularities while verifying the closing balance of provisions payables. b) The company has maintained a software for the premium deposit and we have been supplied with the system generated business data. However, while reviewing the accounting system, we came to observe that the company did not have any system generated trial balance as of 31 December 2022. (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of UNIONINS): c) The company has a provident fund, a gratuity fund, and a worker\'s profit participat
(Continuation news of UNIONINS): c) The company has a provident fund, a gratuity fund, and a worker\'s profit participation fund. However, the statutory audit of these funds for the year ended 31 December 2021 & 2022 is still pending. d) Property, plant, and equipment has to be recognized and subsequently measured following IAS 16 (Property, plant, and equipment). Therefore, we recommend to maintain the fixed assets register and unique identification number properly. (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of UNIONINS): For assets under revaluation model needed to be revalued regularly to avoid material di
(Continuation news of UNIONINS): For assets under revaluation model needed to be revalued regularly to avoid material difference with its fair value. e) The Company did not have a documented IT policy for database management, media devices, internet, spam mail, and related support. They must have a documented IT policy covering data entries and overall IT security functions viz. password policy, network security policy, disposal of IT equipment.\" (end)
The first part of this announcement is missing from the archive. - Dividend Declaration
The Board of Directors has recommended 10% cash dividend for the year ended December 31, 2022. Date of AGM: 20.09.2023, Time: 12:00 PM, Venue: Digital Platform. Record Date: 23.07.2023. The Company has also reported EPS of Tk. 1.77, NAV per share of Tk. 16.66 and NOCFPS of Tk. 1.33 for the year ended December 31, 2022 as against Tk. 1.58, Tk. 15.39 and Tk. 2.06 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 (14.06.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 0.89 for January-March 2023 as against Tk. 0.59 for January-March 2022. NOCFPS was Tk. 0.82 for January-March 2023 as against Tk. 0.76 for January-March 2022. NAV per share was Tk. 17.45 as on March 31, 2023 and Tk. 16.66 as on December 31, 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 June 13, 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.
- 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 June 13, 2023 at 3:00 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 and increase in volume of shares.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.