Dear Shareholders, valued clients and well wishers,
It is my great pleasure to present before you a short review on our Company’s activities and its performance. Janata Insurance Company Ltd. left behind another year in terms of its sincere and quality services to the Clients.
You are aware that an unhealthy competition and adverse circumstances now prevailing in the Non-Life Insurance Sector. And due to these reasons, our company’s overall business performance in 2017 was not satisfactory. During the year under review, the Company could earn gross premium income to tune of Taka 320.18 million as against Taka 337.16 million in 2016 and earned net premium income of Taka 186.16 million as against Taka 193.15 million in 2016. Underwriting profit stood at Tk.45.19 million and the net profit was at Tk.19.25 million as against Tk.30.77 million and Tk.8.37 million in 2016. You know that business procurement cost is very high as a result it is become tough to maintain the services of the insured and earn profit for deliver benefits for the Shareholders. However, we are proposing 5% stock dividend for the year ended 2017. Furthermore, we have reviewed the prevailing market situation and taken necessary measures including diversification of our customer base to increase the business volume of the Company. Hopefully, we expect a good outcome in the coming years accordingly.
I would like to take this opportunity to express my deepest gratitude to all our stakeholders for their continued support and pledge. We also express our appreciation to the Regulator for their untiring efforts to improve the standards of the industry. I also convey my regards and gratefulness to the honorable Chairman, Vice Chairman and Advisers of the Company who provided generous co-operation & guidance to the management team which helped the management team to run the day to day activities smoothly and effectively.
Also, my thanks extend to my all colleagues for their continued support and sincere co-operation, dedications and commitment in achieving the moderate results of the company.
We are hopeful that in the years to come, our valued shareholders, clients, and well wishers will continue their esteemed flow of love and affection for better future of the company.
With best regards,
Saadat R. Khan, Cert CII (UK)
Managing Director & CEO
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