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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
Eastland Insurance Company Limited has been awarded Certificate of Merit by the Institute of Chartered Accountants of Bangladesh (ICAB) for excellence in Insurance sector.

Mr. Arun Kumar Saha, Managing Director received the award from Mr. Abul Maal Abdul Muhit, MP, Hon’ble Minister, Ministry of Finance, GoB at a function at Hotel Sonargaon, Dhaka on 30th November, 2014.

ICAB 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 to achieve such an award.

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




CRISL reaffirms the rating of Eastland Insurance Company Limited to “AA” in the long term on its' audited Financial Statement as on December 2013 similar to that of 2011 & 2012. Rating “AA” indicates very high claim paying ability with strong protection factors supported by good financial performance and sound solvency position.




(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2014 (July'14 to Sep'14), the Company has net profit after tax of Tk. 30.99 million with EPS of Tk. 0.57 as against Tk. 32.17 million and Tk. 0.59 respectively for the same period of the previous year. Whereas net profit after tax was Tk. 135.16 million with EPS of Tk. 2.50 for the period of nine months (Jan'14 to Sep'14) ended on 30.09.2014 as against Tk. 132.82 million and Tk. 2.45 respectively for the same period of the previous year.




(H/Y): As per un-audited half yearly accounts as on 30.06.2014 (Jan'14 to June'14), the Company has net profit after tax of Tk. 104.16 million with EPS of Tk. 1.93 as against Tk. 100.66 million and Tk. 1.86 respectively for the same period of the previous year. Whereas net profit after tax was Tk. 46.95 million with EPS of Tk. 0.87 for the period of 3 months (Apr'14 to June'14) ended on 30.06.2014 as against Tk. 60.31 million and Tk. 1.11 respectively for the same period of the previous year.




Dividend 2013: Cash Dividend (including sale proceeds of fractional bonus share) have been credited to the respective Bank Account of the eligible Shareholders as available in their BO ID on 18th June, 2014 through BEFTN. Cash Dividend if any fails to be credited through BEFTN due to incomplete particulars will subsequently be sent in the form of Dividend Warrants to the recorded address of the concerned Shareholders by Courier Service. Cash Dividend against Folio in the form of Dividend Warrants will be sent to the concerned Shareholders at their recorded address by Courier Service within the time limit.

The Bonus Share already been credited on 10th June, 2014 through Central Depository System to respective BO Account of the eligible Shareholders.




The 27th Annual General Meeting (AGM) of Eastland Insurance Co. Ltd. was held on Sunday, 25th May, 2014 in Lakeshore Hotel, Dhaka-1212. The Meeting was presided over by Mr. Mahbubur Rahman, Chairman of the Company.

The Chairman presented the report of the Directors, Audited Accounts of the Company for the year ended 31st December, 2013 together with Auditors Report there on. The Chairman informed the meeting that the Company earned a gross premium of Tk. 700.38 million during the year 2013 through its 24 Branches which was 7.73 % higher than that of previous year. The company during the last 27 years Settled claims for a total amount of Tk. 1497.49 million on account of Fire, Marine, Motor and Misc Insurance. Total assets of the Company as on Dec’ 2013 stood at Tk. 1717.82 million. The Company approved 15% cash dividend and 10% Stock dividend (bonus share) for the year 2013.


The Chairman in his report expressed view that despite stiff market competition performance of the Company raised in 2013 in all areas of its operation due to maintaining of pragmatic and business friendly policy strictly adhering to regulatory principles and business ethics. Besides the directors a large number of shareholders were present at the meeting.




(Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2014 (Jan'14 to March'14), the Company has net profit after tax of Tk. 57.21 million with basic EPS of Tk. 1.16 as against Tk. 40.35 million and Tk. 0.82 respectively for the same period of the previous year. However, considering proposed bonus share @ 10% for the year 2013, restated basic EPS will be Tk. 1.06 as on 31.03.2014 and Tk. 0.75 as on 31.03.2013.




ICMAB BEST CORPORATE AWARD-2013: Eastland Insurance Company Limited has been awarded best corporate award 2013 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 Radisson Blu Water Garden Hotel, Dhaka on 27th April, 2014.

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.




   
Registered Name : Eastland Insurance Company Limited
Registered office : 13 Dilkusha C/A, Dhaka – 1000, Bangladesh.
Paid up Capital : Tk.  540.83 Million
Authorized Capital : Tk.1000.00 Million
Incorporation : November 05, 1986
Commencement of Business : November 05, 1986
Credit Rating Grade : AA
Listing with Dhaka Stock Exchange (DSE) : 1994
Listing with Chittagong Stock Exchange (CSE) : 1994
Allotment of Public Share : 1994
Face Value Per Share : Tk. 10
Earning Per Share (EPS) : Tk. 4.08
Average Annual Growth over the last 5 years : 20%
Total Asset of the Company : Tk. 1717.82 million
Reserve Base : Tk. 798.65 million
Investment Portfolio : Tk. 822.92 million
Number of Branches : 24
Eastland is the proud sponsor of 02 (two) reputed Non-Banking Financial Institutions namely Industrial & Infrastructure Development Finance Company Ltd. (IIDFC) and National Housing Finance & Investment Ltd. led by prominent Banks, Insurance Companies and the renowned Business houses of the country as follows:
Industrial & Infrastructure Development Finance Company Ltd(IIDFC), a public limited company was incorporated on 19 December, 2000 as a non-banking development financial institution under companies Act 1994 and the financial institution Act 1993 to boost investment specially in the spectrum of industrial and infrastructure development with its registered office at Chamber Building (6th Floor), 122-124, Motijheel C/A, Dhaka-1000.
Authorized capital : BDT. 5,000 million
Paid up capital : BDT. 1,000 million
Sponsors of IIDFC are:
 Eastland Insurance Company Ltd.  Janata Bank Ltd.
 Invest Corporation of Bangladesh (ICB)  AB Bank Ltd.
 Bank Asia Ltd.  BRAC Bank Ltd.
 The City Bank Ltd.  Mutual Trust Bank Ltd.
 National Bank Ltd.  One Bank Ltd.
 Southeast Bank Ltd.  Sonali Bank Ltd
 National Life Insurance Co. Ltd.  Pragati Insurance Ltd.
 Mr. Md. Matiul Islam
National Housing Finance and Investments Limited, a public limited company was incorporated on August 18, 1998 as a non-banking development financial institution under Companies Act 1994 with registered office at 109, Bir Uttam C.R Datta Road (Ex-Sonargaon Road), National Plaza (7th & 8th Floor), Dhaka-1205.
Authorized capital : BDT 2,000.00 million
Paid up capital : BDT 1,063.90 million
Sponsors of National Housing Finance and Investments Limited are :
 Eastland Insurance Company Ltd.  National Bank Ltd.
 United Commercial Bank Ltd.  Eastern Insurance Company Ltd.
 IFIC Bank Ltd.  Jibon Bima Corporation
 National Life Insurance Company Ltd.  Pragati Insurance Ltd.
 Reliance Insurance Ltd.  Sadharan Bima Corporation
 Bangladesh Lamps Ltd.  Borak Travels (Pvt.) Ltd.
 HRC Bangladesh Ltd.  Shaw Wallace Bangladesh Ltd.
 Square Pharmaceuticals Ltd.  Unicorn Equities Ltd.
 Overseas Investor Forum (UK)  Overseas Investors Forum (Zambia)
 Summit Industrial and Mercantile Corporation (Pvt.) Ltd.
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