Green Delta Insurance profit drops 12% in 2024

Green Delta Insurance, one of the largest private insurance providers in the country, saw its profits decline in 2024 due to falling income from its insurance premiums.

The company reported a profit of Tk 54 crore for the year ending on December 31, 2024, marking a 12 percent decline from the previous year.

Shares of Green Delta fell 0.21 percent to Tk 47.1 on the Dhaka Stock Exchange (DSE) today.

The insurer's consolidated earnings per share (EPS) stood at Tk 5.39 in 2024, down from Tk 6.11 a year earlier, according to price-sensitive information published on the company's website today.

The EPS declined by Tk 0.72 per share due to a drop in premium income, the company said in the disclosure.

Despite the earnings fall, Green Delta has recommended a 25 percent cash dividend for 2024, maintaining the same payout as the previous year.

The insurance company recorded a massive fall in its cash flow, a key indicator that provides insights into a company's financial health and operational efficiency.

It shows the amount of cash that comes into and out of a business in a particular period.

Green Delta said its net operating cash flow per share fell sharply to Tk 1.19 from Tk 5.98 in 2023, registering a Tk 4.79 per share decline due to reduced premium income.

Meanwhile, the company's net asset value per share dropped by Tk 2.78, which it attributed to a decline in investment value in the stock market.