Asia Insurance Limited is one the top category non life insurance company in Bangladesh. In this I write about Asia Insurance Company Limited Review, Insurance Premium, Assets, Liability and Key Features Which all of this helping people to know better and better about non life Asia Insurance Company Limited Bangladesh.
Asia Insurance Limited is a public limited company incorporated in Bangladesh under the companies Act 1994 from registration of joint stock companies & firm and registered with insurance development and regulatory authority, Government of the peoples Republic of Bangladesh. Asia Insurance Limited Authorized Capital of Tk. 1000 million out of which paid up capital on Tk. 42,69,37,500.00 which is separated in 4,26,93,750 shares of Tk. 10 each.
Asia Insurance Limited Chairman Profile:
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| Yussuf-Abdullah-Harun |
Yussuf Abdullah Harun is the present Asia Insurance Limited chairman. He is one of the famous and Popular Business man and politician of Bangladesh. He is the fellow of the Institute of Chartered Accountants in England & Wales (FCA). Mr. Yussuf Abdullah Harun is an exceptional model of successful business man in Bangladesh. Yussuf Abdullah Harun is not only the Asia Insurance Limited Charman he is also operated many business organization such as-
- Asia Insurance Ltd. (Chairman)
- Incontrade Ltd. (Chairman)
- Incontrad Holdings Ltd. (Chairman)
- Insoft Systems Ltd. (Chairman)
- Bangla German Latex Co. Ltd. (Chairman)
- Former President FBCCI
- Adviser of the SAARC Chamber of Commerce & Industry.
- Sponsor Director and former Chairman of Southeast Bank Ltd.
Asia Insurance Limited Board Of Directors:
Asia Insurance Board Of Directors are number of popular Business man, Now i give all board of directors name and position via screen shot.
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| Asia-Insurance-Limited-Board-Of-Directors |
Asia Insurance Limited Contact Details:
- Head Office: T.K. Bhaban (7th Floor), 13 Kawranbazar, Dhaka-1215, Bangladesh.
- Telephone Number: 8141033,9137244,9131222
- Fax: 88-02-9137077
- Mobile: 01720-05440
- Email: info@asiainsurancebd.com, monjurhossainbd@gmail.com
Asia Insurance Limited Directors Certificate:
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| Asia-Insurance-Limited-Board-Of-Directors-Certificate |
Asia Insurance Limited Branches Name And Addresses:
Asia Insurance Limited operate their Insurance Businesses in whole Bangladesh. Asia Insurance Limited have a number of branches which all of the situated very popular places in Bangladesh. Now i provide all Asia Insurance Limited Branches name and contact person which is helping people to find out Asia Insurance Ltd location in hole Bangladesh.
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| Asia-Insurance-Limited-Branches-Name-And-Addresses |
Asia Insurance Limited Share Information:
- DSE Listing Year: 2009
- Market Category: A
- Electronic Share: Yes
- Sponsor/ Director: 40%
- Government Share: 00%
- Foreign Invesment: 00%
- Institute: 13.37%
- Public: 46.63%
- Current ( 19-01-2014) Price Earning Ration is 19.42
- Last two years Share price ranges under the screen shot (2012 to 2013)
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| Last-two-years-Share-Asia-Insurance- prices |
Asia Insurance Limited Financial Review:
Now I provide financial review performance via screen shot, which information collected from Dhaka Stack Exchange Website.
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| Asia-Insurance-Limited-Financial-Review |
Asia Insurance Limited Audit Report:
Auditor's Report 2012
We have audited the accompanying financial statement of Asia insurance Limited which comprise of the Balance sheet as at 31st December 2012, the related revenue accounts, Profit and loss appropriation account, profit and loss account, statement of change in shareholders equity and statement of cash flows for the year ended and a summary of the significant accounting policies and other explanatory information.
Management's Responsibility For The Financial Statement:
Management of Asia Insurance Limited is responsible for the preparation and fair presentation of these financial statements of the insurance company in accordance with the Bangladesh financial reporting standard (BFRSs), The companies Act 1994, the insurance rules 1958, Insurance Act-2010, The securities and exchange rules 1987, Rules and regulations issued by the Insurance development and regulatory authority (IDRA) and other applicable laws and regulations. Those responsibility includes designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatements, whether due to fraud or error,selecting and applying appropriate accounting policies, and making accounting estimates that are reasonable in the circumstances.
Auditor’s Responsibility:
Our responsibility is to express an opinion on these Financial Statements based on our audit. We have conducted our audit in accordance with the Bangladesh Standards on Auditing (BSAs). Those standards require that we comply with relevant ethical requirements and plan and perform the audit in order to obtain reasonable assurance about whether the Financial Statements are from material misstatements.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the Financial Statements. The procedures selected depend on the Auditor’s judgment, including the assessment of the risk of material misstatement of the Financial Statements, whether due to fraud or error. In making those risk assessments; we consider internal control relevant to the entity’s preparation and fair presentation of the Financial Statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s Internal Control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the Financial Statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion:
In our opinion, the Financial Statements prepared in accordance with the Bangladesh Financial Reporting Standards (BFRSs), give a true and fair view of the Financial Position of the insurance company as at 31 December, 2012 and the results of the Financial Performance and the Cash Flows for the year then ended and comply with the Companies Act 1994, the Insurance Act 2010, Insurance Rules 1958, the Securities and Exchange Rules 1987 and the other applicable laws and regulations.
We further report that:
- we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit and made due verification thereof;
- In our opinion, proper books of accounts as required by law have been kept by the company so far as it appeared from our examination of those books and proper return’s adequate for the purpose of our audit have been received from the branches not visited by us;
- The Company’s Balance Sheet and Profit and Loss Accounts and Cash flows dealt with by the report are in agreement with the books of accounts and returns;
- The expenditures incurred were solely for the purpose of the company’s business;
- As per Section-63(2) of the Insurance Act-2010 as amended, we certify that to the best of our knowledge and belief and according to the information and explanations given to us, all expenses of management wherever incurred and whether incurred directly or indirectly, in respect of insurance business of the company transacted in Bangladesh during the year under report have been duly debited to the related revenue accounts and the profit and loss account of the company; and
- As per Regulation-11 of Part-1 of the Third Schedule of the insurance Act 1938 as amended, we certify that to the best of our information and as shown by its books, the company during the year under report has not paid any person any commission in any form outside Bangladesh in respect of its business re-insurance abroad.
- The information and explanations required by us have been received and found to be satisfactory;
You Can Also See Under This Bangladeshi Insurance Company Review:
- Express Insurance Limited Business Profile
- Continental Insurance Limited Busines Profile