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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
(Q2 Un-audited): EPS was Tk. 0.54 for April-June, 2017 as against Tk. 0.28 for April-June, 2016; EPS was Tk. 1.02 for January-June, 2017 as against Tk. 0.58 for January-June, 2016. NOCFPS was Tk. 0.22 for January-June, 2017 as against Tk. 0.11 for January-June, 2016. NAV per share was Tk. 22.78 as of June 30, 2017 and Tk. 20.43 as of June 30, 2016.




The Cash Dividend (including sale proceeds of fractional bonus share) for the year ended December 31, 2016 has been credited to the respective shareholders' Bank Accounts on June 18, 2017 through BEFTN . The remaining un-remitted cash dividend will be dispatched through dividend warrant to the respective shareholders' address.




The bonus shares for the year ended December 31, 2016 has been credited on June 12, 2017 through Central Depository System to the respective shareholders' BO Accounts.




(Q1 Un-audited): EPS was Tk. 0.51 for January-March, 2017 as against Tk. 0.31 for January-March, 2016. NOCFPS was Tk. 0.21 for January-March, 2017 as against Tk. 0.09 for January-March, 2016. NAV per share was Tk. 25.42 as of March 31, 2017 and Tk. 24.36 as of December 31, 2016.




CRIS upgraded the "Credit Rating" of Eastland Insurance to "AA+" outlook stable on its Audited Financial Statements for the year 2016. Rating "AA+" indicates very high claims paying ability (CPA) with strong protection factors supported by good financial performance and sound solvency position.




The Board of Directors has recommended 10% cash and 5% stock dividend for the year ended on December 31, 2016. Date of AGM: 24.05.2017, Time: 3:00 PM, Venue: Spectra Convention Centre Limited, House No: 19, Road No: 7, Gulshan-1, Dhaka-1212. Record date: 08.05.2017. Comparative key Financial Indicators are EPS of Tk. 1.98, NAV per share of Tk. 24.36 and NOCFPS of Tk. 0.90 for the year ended on December 31, 2016 as against Tk. 1.84, Tk. 22.47 and Tk. 1.00 respectively for the same period of the previous year.




(Q3 Un-audited): EPS was Tk. 0.13 for July-September, 2016 as against Tk. 0.06 for July-September, 2015; EPS was Tk. 0.74 for January-September, 2016 as against Tk. 1.18 for January-September, 2015. NOCFPS was Tk. 0.15 for January-September, 2016 as against Tk. 0.34 for January-September, 2015. NAV per share was Tk. 23.02 as of September 30, 2016 and Tk. 22.47 as of December 31, 2015.




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.




Citizen Charter
   
Reinsurance, broadly speaking, is the insurance of insurance where the original insurer gets the risks covered with another (re-insurer) for the same reason the original insured get protection for. The reinsurance policy of the company is to purchase maximum reinsurance protection at minimum cost. Based on above philosophy, retention limit of different business segment of the company is being revised considering asset base, reserves, solvency, size of the portfolio, premium income, profitability, types of risks, pattern of loss, types of reinsurance and corporate strategy. Moreover, the retention of the company is protected by excess of loss treaty to minimize the retained loss under fire, marine and engineering policies. In accordance to present rule, 50% of the re-insurable general insurance business shall have to be reinsured with Sadharan Bima Corporation (SBC) and the remaining to be reinsured either with Sadharan Bima Corporation or outside Bangladesh. Eastland Insurance Company Limited takes reinsurance coverage for the rest 50% from the internationally reputed Re-Insurers such as

 Loyds of London, Munich-Re of Germany
 Swiss-Re of Switzerland
 General Insurance Corporation (GIC) of India
 Malaysian Reinsurance Berhad
 Africa Re
 Moscow Re
 BEST Re- insurance, Malaysia
 Amin Re, Iran
National Insurance Co. Ltd,, India
Aveni Re,Africa
Sen Re, Senegal
New India Insurance Co. Ltd., India
Oriental Insurance Co. Ltd., India
Iffco Toxio General Insurance Co. Ltd,, India
Korean Re-Insurance Co. Ltd., Korea
Asean Retakaful International (L) Ltd., Malaysia
Asian Reinsurance Corporation, Thailand
 Arthur Gallalgher Asia Pvt. Ltd. A.R.I.G Bahrain


Through renowned Multinational Re-insurance Brokers such as :

 Tyser, London
 J.B Boda, Mumbai
 Heritage Insurance Brokers Pvt. Ltd. Kolkata
M.B. Boda, Mumbai
 J.B Boda & Co.(s) Pvt. Ltd., Singapore
Protection Insurance Services WLL, Bahrain
Reliance Composite Insurance Broking Ltd., India
Aditya Birala Insurance Brokers Ltd.
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