The profit soared for cuts in agency cost, lower claim expense and management expenseGreen Delta Insurance, the leading non-life insurer in Bangladesh, saw its profit more than double in 2020 on the back of lower operational expenses. The 35-year-old insurer logged in a profit of about Tk 66.7 crore for the year, in contrast to Tk 30.1 crore in 2019. Subsequently, the company announced a cash dividend of 24.5 per cent and a stock dividend of 7.5 per cent for the year, up from 15 per cent cash and 5 per cent stock dividend a year earlier. “We have reduced all types of management expenses except salaries and allowances for employees, Syed Moinuddin Ahmed, additional managing director and company secretary of Green Delta Insurance, told Dhaka Tribune. In 2020, shares of Green Delta Insurance, which has been listed in 1989 with the Dhaka Stock Exchange and in 1995 with the Chittagong Stock Exchange, gained about 16.4 per cent.

Source: Dhaka Tribune February 15, 2021 18:22 UTC