Non-life insurer Asia Pacific General Insurance Company Ltd reported a 30% rise in profit year-on-year in the second quarter of 2021.
During the March-June period of this year, the net profit of the company stood at Tk3.81 crore, up from Tk2.94 crore in the same period a year ago.
Consequently, its earnings per share (EPS) rose to Tk0.90 and net asset value per share Tk22.79.
In the first six months of 2021, the company's net profit was Tk8.34 crore, which was Tk6.38 crore in the same period as the previous year.
Asia Pacific General Insurance Company Ltd is one of the third generation private-sector Non-Life Insurance Company in Bangladesh that was established on 17 November 1999.
The company engaged in all kinds of non-life insurance business for its clients.
The company recommended a 10% cash dividend for its shareholders for the year 2020. In the year, the company made a profit of Tk8.34 crore and its EPS was Tk1.97.
As of 31 May this year, sponsors and directors jointly hold 39.66% shares, institutional investors 25.38%, and general investors own 34.96% shares of the company, respectively.
The last trading share price of the company at the Dhaka stock exchange was Tk68.30 on Thursday.
Listed non-life insurance companies posted higher profits at the end of 2020 when most businesses in the country were struggling to deal with the Covid-19 pandemic blows.
According to industry insiders, non-life insurance companies are trying to follow the 15% commission circular strictly.
The import of raw materials in the pharmaceuticals sector increased during the pandemic. Many of them will be able to reduce the management expenses, other costs, and claims also amid the pandemic.
As a result, the companies are making more profits during the year.