The profits of 17 general insurance companies in the country have increased in the July to September (third) quarter of this year. However, the profits of 23 companies decreased during the same period. This information comes from the unaudited financial reports of 40 general insurance companies from July 1 to October 30, 2024.
The financial report reflects the instability of the insurance sector and the financial condition of various companies. While the profits of some companies have increased, while the profits of some companies have decreased, this is indicative of a stressed insurance sector. But all in all, emphasis is being placed on taking necessary steps to improve the insurance sector.
82 companies are running insurance business in the country. Out of this, 46 are in the general insurance sector and the remaining 36 companies are operating life insurance. Among them, 58 are listed in the capital market. Among them there are 43 companies in the general insurance sector. The quarterly reports of three of which are still unpublished.
Companies with profit growth are Mercantile Islami Insurance, Sonar Bangla Insurance, Eastland Insurance, Meghna Insurance Company, Islami Commercial Insurance Company, Eastern Insurance, Sikdar Insurance, United Insurance, Express Insurance, Standard Insurance, Karnaphuli Insurance Company, Prime Insurance Company, Bangladesh National Insurance, Pioneer Insurance, Crystal Insurance, Purvi General Insurance and Dhaka Insurance Limited.
Mercantile Islami Insurance's earnings per share (EPS) for the July-September quarter stood at 15 paise. Which was 10 paise at the same time in 2023. That is, the earnings per share (EPS) in 2024 has increased by 5 paisa compared to the same period of the fiscal year 2023.
Earnings per share (EPS) of Sonar Bangla Insurance Limited in the third quarter was 27 paise. Which was 14 paise at the same time in 2023. EPS increased by 13 paise compared to last year. Eastland Insurance's EPS stands at 18 paise. Which in 2023 was 13 paisa. Increased by 5 paise.
EPS of Meghna Insurance Company Limited increased by 10 paise to 21 paise. Which was 11 paisa in the same period of the previous year.
EPS of Islami Commercial Insurance Company Limited rose by 2 paise to 20 paise. Which was 18 paise at the same time last year. Eastern Insurance's EPS stands at Rs 1 02 paise. Which was 59 paisa at the same time in 2023. That is, the profit per share has increased by 43 paise. Sikdar Insurance's EPS stands at 38 paise. Which was 33 paise at the same time last year. United Insurance's EPS stood at 44 paise, up from 4 paise.
Express Insurance Limited's EPS stands at 59 paise. Which happened to be 29 paise. EPS of Standard Insurance Limited stands at 75 paise. Which was 73 paisa at the same time of the previous year. Karnaphuli Insurance Company Limited's EPS stood at 56 paise, which was 37 paise.
