From The Desk of the Chairman

Hon'ble Shareholders


Assalamu Alaikum

It is with great pleasure that I welcome you all to this 17th Annual General Meeting of Continental Insurance Limited. On behalf of Board of Directors and myself, I would like to express my sincere thanks and profound appreciation to you for your continuing interest in and support for your Company. It is your kind patronage and continued support that have always resulted in sustainable development and progress of the Company. Now it is my pleasure to present before you a short report about the performance of the Company in 2016.In spite of the adverse economic situations in 2016, the Company was able to underwrite moderate amount of business due to earnest enthusiasm and relentless effort by all of our employees, support from the respected clients and the shareholders and above all, the valuable inputs and monitoring of the Board.

 

 

We earned gross premium and net premium income of Tk.532.55 million and Tk.241.59 million respectively during the year 2016. Underwriting profit stood at Tk.102.35million in 2016 which was 104.07 million of 2015.Total assets of the Company stood at Tk.1023.24 million as on 31st December 2016. The Company settled claims amounting to Tk.40.88 million during 2016 which was Tk.43.10 million in 2015. After making provision of reserve for exceptional losses, share fluctuation fund, deferred tax and taxation, the Board of Directors could recommend 5% Cash and 5% stock dividend. I believe, the business of the company will continue to be increased in the years to come.
Continental Insurance Limited is always concerned about protecting the interest of all its business partner clients and stakeholders. I am convinced that with the strength of our strong management team, the dedicated and hardworking employees, our well-built IT & online support, customer service and with the support of our clients and stakeholders, we will continue on our course towards sustainable and profitable growth. With our impressive track record, we are committed to long-term financial performance in strict compliance to regulatory requirements. We are very much confident that the Company is poised to take challenges of the future.
Dear Shareholders,
The economy of Bangladesh has continued to show its resilience in facing a prolonged downturn of the global economy which dampened the Country’s export growth prospects and underscored the need for rebalancing sources of growth.  Despite the stiff competition and challenging conditions in insurance industries in Bangladesh, Continental Insurance continued to perform strongly. In doing so, we made substantial progress towards creating a strong and stable Company. We want to serve our clients even better in future by focusing on their needs and offering products and services that address those needs. We expect to be successful and deliver benefit to our shareholders and to our stakeholders at large.

Dear Shareholders, 

I take the opportunity to express my gratitude to you all, valued clients, Office of the Insurance Development & Regulatory Authority, Ministries of Commerce and Finance, Shadharan Bima Corporation, Bangladesh Bank, all Government & Private Commercial Banks, Registrar of Joint Stock Companies & Firms, Bangladesh Insurance Association and all Govt. & Semi Govt. institutions as well as our patrons and well wishers for the  co-operation that I have received from them. I also thank all of our employees for their contribution to the development of the Company.
I hope, your co-operation and patronization will continued with us in coming days. May Allah help all of us.

 

Allah Hafiz
With warm Regards

 

(A.K.M.Azizur Rahman)
Chairman

 

 

 

 

 

 

    www.cilbd.com