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Eastland the name you have learnt to trust. We are well equipped with latest technology and a team of astute and experienced personnel to meet your all insurance needs; such as Fire, Industrial All Risk, Marine Cargo, Marine Hull, Motor, Engineering, Aviation, Personal Accident, Overseas Mediclaim Insurance and Miscellaneous Risks.
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Notice
(Q3 Un-audited): EPS Tk. 0.18 for July-September, 2018 as against Tk. 0.15 for July-September, 2017; EPS Tk. 1.15 for January-September, 2018 as against Tk. 1.10 for January-September, 2017. NOCFPS Tk. 0.43 for January-September, 2018 as against Tk. 0.22 for January-September, 2017. NAV per share Tk. 21.48 as on September 30, 2018 and Tk. 21.66 as on September 30, 2017.



Credit Rating AA+ : Credit Rating Information and Services Limited (CRISL) has announced the Claim Paying Ability (CPA) Rating of the Company as "AA+" along with a stable outlook in consideration of audited financials of the Company up to December 31, 2017 also un-audited financials up to 30th June 2018 and other relevant quantitative as well as qualitative information up to the date of rating declaration. Rating "AA+" indicates very high claims paying ability (CPA) with strong protection factors supported by good financial performance and sound solvency position.



(Q2 Un-audited): EPS was Tk. 0.50 for April-June 2018 as against Tk. 0.50 for April-June 2017; EPS was Tk. 0.97 for January-June 2018 as against Tk. 0.95 for January-June 2017. NOCFPS was Tk. 0.25 for January-June 2018 as against Tk. 0.20 for January-June 2017. NAV per share was Tk. 20.75 as on June 30, 2018 and Tk. 21.59 as on December 31, 2017.



Cash dividend for the year ended on December 31, 2017 has been disbursed to the respective shareholders' Bank Accounts through BEFTN on July 22, 2018. The remaining un-remitted cash dividend will be dispatched through dividend warrant to the respective shareholders' address.



(Q1 Un-audited): EPS was Tk. 0.50 for January-March 2018 as against Tk. 0.48 for January-March 2017. NOCFPS was Tk. 0.23 for January-March 2018 as against Tk. 0.20 for January-March 2017. NAV per share was Tk. 22.52 as on March 31, 2018 and Tk. 23.21 as on December 31, 2017.



Stock dividend for the year ended on December 31, 2017 has been credited to the respective shareholders' BO accounts on July 12, 2018. The payment of cash dividend and the sale proceeds of the fraction bonus shares will be distributed within the stipulated time.



The Board of Directors has recommended 7.50% cash and 7.50% stock dividend for the year ended on December 31, 2017. Date of AGM: 28.06.2018, Time: 3:00 PM, Venue: Golden Tulip-The Grandmark Dhaka. Plot No. 84, Road No. 7, Block-H, Banani, Dhaka-1213. Record date: 15.05.2018. EPS of Tk. 2.17, NAV per share of Tk. 23.21 and NOCFPS of Tk. 0.97 for the year ended on December 31, 2017 as against Tk. 1.89, Tk. 23.20 and Tk. 0.85 respectively for the same period of the previous year.



ICMAB BEST CORPORATE AWARD-2015: Eastland Insurance Company Limited has been awarded best corporate award 2015 in non-life insurance sector by the Institute of Cost and Management Accountants of Bangladesh (ICMAB)

Mr. Arun Kumar Saha, Managing Director received the award from Mr. Abul Mal Abdul Muhith, Hon’ble Minister, Ministry of Finance at a function at Dhaka on 26th October, 2016.

ICMAB identified best of the best after due consideration to many quantitative and qualitative factors in general and sector wise in particular and evaluated a company under the measurement of internationally and widely used standards.

The Managing Director of the Company said that Eastland maintained the maximum level of transparency, accountability and good governance during the period which helped it to get such an award.

The Managing Director thanked all members of ICMAB Best Corporate Award Committee for selecting Eastland Insurance Company as one of the recipients of this prestigious award and shared this achievement with valued clients, shareholders, members of the Board and the employees of the company.



EICL-Citizen Charter
   

Eastland Insurance Company Limited (EICL), a first generation nonlife insurance company was incorporated on November 5, 1986 as a public limited company under the Companies Act 1913 (at present 1994) with the vision to be one of the Par excellence non-life insurance companies in Bangladesh. It obtained the Certificate of Registration for carrying on insurance business from the Chief Controller of Insurance on November 22, 1986. The company started its business with a paid up capital of Tk. 30.00 million against authorized capital of Tk. 100.00 million being sponsored by a group of renowned business personalities and reputed industrialists of the country having involvement in diversified business.

Meanwhile, both authorized and paid up capital of the company have been enhanced to Tk. 1000.00 million and Tk. 738.66 million respectively as on December 31, 2018. EICL floated Initial Public Offerings (IPO) in 1994. The shares of the company are listed with both the bourses of the country under “A” category issue. EICL received "AA+ (Double A Plus)" CPA Rating (Surveillance) from CRISL based on its sound financial performance and claim paying ability. The Company has been operating its business with a network of 28 branches in different key point of the country. The company earned gross premium of Tk. 1,114.62 million in 2018 against Tk. 1032.13 million in 2017 .The Company made underwriting profit of Tk. 122.85 million and profit after tax (PAT) of Tk. 109.00 million in FY 2018. The company has been carrying on its business from its Head Office located at 13, Dilkusha C/A, Dhaka-1000.

Mr. Mahbubur Rahman, Chairman is an eminent business personality in Bangladesh. He is the President of International Chamber of Commerce (ICC) Bangladesh, Chairman Bangladesh International Arbitration Center (BIAC), Member Business Advisory Council (BAC) of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), Bangkok, Member, Board of Governors, Institute of Business Administration (IBA), University of Dhaka, Member of the Board of Bangladesh Open University (BOU) and Dhaka Stock Exchange Limited. He is the former Chairman of National Bank Ltd. and National Bank foundation, former President of Federation of Bangladesh Chamber of Commerce & Industry (FBCCI) and Dhaka Chamber of Commerce & Industry (DCCI). Besides, he is associated with host of Social Organizations at home and abroad.

Management team consists of a group of experienced professionals and is headed by Mr. Arun Kumar Saha as the Managing Director & CEO, with over 36 years of experience in the insurance industry. Mr. Saha started his career with Sadharan Bima Corporation as Trainee Officer in 1981. He worked in Underwriting, Claim, Re-Insurance, Export Credit Guarantee & Administration Department from 1981 to 2011. He retired from SBC as General Manager.

Eastland focuses on providing professional services of the highest quality to its clientele which include many reputed large national and multinational conglomerates. Over the years, Eastland has established its track record as a sound and dependable insurer, providing insurance solution to the individual needs of its clients and consistently meeting its commitments.

Financial performance of the Company has been positive, delivering both underwriting and investment income and giving attractive returns to its shareholders. The Company has been maintaining over the years strong corporate culture, corporate governance, ethical standards, corporate social responsibilities, superior underwriting skills and abilities and dynamic investment management.

Eastland encompasses not only development of new products and services, but also marketing activities aimed at tapping the hitherto untapped segments of the market. The Company is fully aware of its social responsibilities and aims its future developments activities to bring insurance services and benefits to the reach of the common people of Bangladesh.
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