Dear Valued Shareholders,
Assalamu Alaikum and Greetings to all.

I take the pleasure in addressing you through the pages of our Annual Report and welcome you all to the 38th Annual General Meeting of the Company. The financial year 2023 reflects the 38th glorious anniversary of Janata Insurance Company Ltd. and I am amazed to witness the remarkable progress that we have achieved throughout this wonderful journey. I am equally proud that from the very inception we have always managed to maintain transparency and morality in the Insurance filed trying to contribute to the nation by our promised service.

On this special occasion, I am glad to convey my heartfelt thanks and appreciation to all of you for your continuous support on behalf of the Board of Directors of Janata Insurance Company Limited.

World Economy & Present Scenario
This is beyond doubt that the world has been going through a very challenging time of disruption and experiencing the disastrous proportions for COVID–19 and Russia-Ukrane war since 2020, moreover Gaza crisis consequences unstable situation in Red Sea & Mediterranean Sea which affects world economy as well Bangladesh. Even after facing all these difficulties our Board & Management has always remained optimistic and focused on purpose. We are contemplating as per our learning as we are adapting the new realities. It is our goal to reshape the Company through finding new opportunities together with support of our stakeholders. We are highly committed to ensure qualitative service to our customers, keeping our employees safe, conducting business following regulatory compliant manner and positioning the Company in greater height.

Appropriation of Profit
Our Company has successfully achieved insurance business with Gross premium income of Tk.590.93 million in the year 2023 against Tk. 507.69 million in 2022. The total Gross premium income of Janata Insurance Company Ltd. has increased to Tk. 83.24 million in 2023 as against Tk. 111.50 million in 2022. The Business Volume has increased 16.39 % in comparison with the previous year. The Growth Profitability in 2023 has also Increased. The Underwriting Profit stood at Tk.84.63 million and the Net Profit at Tk. 89.16 million as against Tk. 81.14 million and Tk. 85.06 million in 2022. Total assets of the Company stood at Tk. 1430.46 and the Company settled Claims amounting Tk. 177.21 in 2023 which was Tk. 94.11 in 2022. In consideration of the overall business, the Board of Directors has been pleased and recommended 11% Cash Dividend for the year 2023.

Human Capital
Janata Insurance always emphasized on professionalism and relied on the mobility instilled through our highly qualified and experienced personnel whose active service has moved the Company to its current position. The experienced team rendered keen services to customers and establish competitive edge over our peer competitors. Janata Insurance ensures the amiable environment for all its members of the staff, both at Head Office and Branches, with apposite rewards which eventually limit the employee turnover.

Regulatory & Compliances
The management team is mingled with lasting relationships to all regulatories i.e. Insurance Development Regulatory Authority (IDRA) Sadharan Bima Corporation (SBC), Bangladesh Bank, RJSC, Bangladesh Securities & Exchange Commission (BSEC), Bangladesh Insurance Association etc. Moreover, the IDRA provides a very supporting regulatory environment, in the absence of which there was a sure possibility of disorder in the Insurance sector. With Support of SBC we are providing quality service to our valued clients through sound risk management, appropriate reinsurance and the fastest possible claims settlement. By doing so, we assure you that we want to secure a fair market position.

Conclusion
We always acknowledge our sincere gratitude to our clients and shareholders for their tremendous support and trust they have reposed on us. We would extend our sincere thanks to Banks and financial institutions with whom we have extensive daily dealings; along with the Regulators, Dhaka Stock Exchange PLC, Chittagong Stock Exchange PLC, BAPLC, NBR, FRC, BSEC, IDRA, BIA, Sadharan Bima Corporation (SBC), Bangladesh Bank, related Government bodies and stakeholders for their persistent co-operation and support. I would like to extend my wholehearted thanks to the honorable members of the Board for their Continuous co-operation and valuable advices to administer the affairs of the company smoothly and also to the different Sub-Committees of the Board for performing their defined roles in a befitting manner.

In closing, I expressing my confidence the way that the CEO, Branch-in-Charges, Executives, Officers and employees serving to the company, it would reach to a new further height and will be continuing its operation as one of the leading non-life insurance company in Bangladesh Market.

With thanks & regards,

Zafrul Islam Chowdhury
Chairman