Listed non-life insurer Agrani Insurance Company Limited has come under scrutiny following the disclosure of several serious irregularities and regulatory violations related to its paid-up capital and fixed asset management, according to its audited financial statements for 2025.

The auditor’s report revealed that the company’s paid-up capital currently stands at Tk 360.19 million (Tk 36.01 crore). However, only 27.75 percent of the company’s shares are held by sponsors and directors, significantly below the regulatory requirement that sponsors and directors of non-life insurance companies collectively hold at least 60 percent of the paid-up capital.

The report identified this shortfall as a clear violation of the prevailing regulations governing non-life insurance companies.

In addition, Agrani Insurance has failed to meet the minimum paid-up capital requirement set by the Insurance Development and Regulatory Authority (IDRA). Under IDRA rules, non-life insurers are required to maintain a minimum paid-up capital of Tk 40 crore, while Agrani Insurance’s capital remains below that threshold.

The audit also highlighted deficiencies in the company’s fixed asset management practices. Although Agrani Insurance reported fixed assets worth Tk 126.78 million (Tk 12.68 crore), auditors found that the company does not maintain a comprehensive fixed asset register containing detailed information on its assets.

Furthermore, the company has not assigned unique identification codes to its assets, making proper identification and tracking difficult and falling short of internationally accepted accounting standards.

While management provided an asset list to the auditors, verification could only be conducted for assets located at the company’s head office, raising concerns about the monitoring and control of assets outside the headquarters.

On Saturday (June 13), shares of Agrani Insurance closed at Tk 27.60 on the Dhaka Stock Exchange (DSE).