Dear Shareholders valued clients and well-wishers,
Greetings from the desk of Managing Director and CEO.
It is my great pleasure to present a short review on our Company’s activities and its performance. Janata Insurance Company Limited left behind another year in terms of its sincere and quality services to the Clients.
You all are aware that unhealthy competition and adverse circumstances now prevailing in the Non-Life Insurance Sector. During the year under review, the Company earned gross premium income to the tune of Taka 335.55 million as against Taka 330.72 million in 2019 and earned net premium income of Taka 179.14 million as against Taka 171.72 million in 2019. Underwriting profit stood at Tk.76.74 million and the net profit was at Tk.77.76 million as against Tk. 68.95 million and Tk. 72.99 million in 2019. You know that business procurement cost is very high as a result it has become tough to maintain the services of the insured and earn profit to deliver benefits to the Shareholders. In addition, a pandemic situation is going in the world which has affected the world economy greatly along with our country’s economic growth. It is a big achievement for us that even in the pandemic situation across the world and in our country; our Company has done great business which has contributed much to enhance the financial growth of the Company. As a result, the Board of Directors are proposing 6% cash Dividend and 5% Stock Dividend for the year ended 2020. 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 shareholders, well-wishers 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, Advisers and the Board of Directors 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, dedication, 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 support and affection for a better future for the company.
With best regards,
Md. Abu Bakkar Siddique
Chief Executive Officer
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