Asia Insurance declares 10% cash dividend for 2024

Asia Insurance has announced a 10% cash dividend for its shareholders for the year ended 31 December 2024. This is slightly lower than the 11% cash dividend paid in the previous year (2023).

The decision was taken at the company's board meeting held yesterday (21 June). To approve the dividend and audited financial statements, the non-life insurer will convene its Annual General Meeting (AGM) on 26 August 2025. The record date for determining eligible shareholders has been set for 29 July 2025.

The company's share price closed yesterday at Tk24 on the Dhaka Stock Exchange.

For 2024, Asia Insurance reported a net profit after tax of Tk9.70 crore, slightly up from Tk9.50 crore in the previous year. Its earnings per share (EPS) stood at Tk2.06, compared to Tk2.02 a year ago.

The company also published its first-quarter financial statements for 2025 on the same day. It reported an 8% year-on-year growth in net profit, reaching Tk1.88 crore, up from Tk1.74 crore in the same period last year. EPS for the quarter rose to Tk0.40, compared to Tk0.37 a year earlier.

As of the end of March 2025, the company's net asset value (NAV) per share stood at Tk29.87.

Industry insiders say that the current business environment remains challenging amid ongoing political and economic uncertainty. Many companies have been unable to open Letters of Credit (LCs), except for essential goods.

The non-life insurance sector—which relies heavily on the banking industry—has also felt the impact, leading to slower business growth, they added. 

Asia Insurance is a non-life insurance company in Bangladesh, incorporated as a public limited company in 2000. Its core business includes marine, motor, engineering, aviation, industrial, and medical insurance. 

The company operates through its head office and 22 branches across the country, all connected through an online network.