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Bismillahir Rahmanir Rahim

Dear Valued Shareholders,


I am pleased to write to you as always and I would like to express our gratitude to all our valued shareholders for your continued confidence in Central Insurance to deliver exceptional business performance year-on-year and maximize shareholder value. With sound Corporate Governance, Management Efficiency, Accountability and transparency the Central Insurance is moving ahead. It is on this note, on behalf of the Board; I take pleasure in welcoming you all to the 34th Annual General Meeting of your company and presenting to you the Annual Report

for FY’21.

At Central Insurance Company Ltd, our priority and concern during the lethal second wave of the pandemic in early 2021 were to continuously ensure appropriate lines of support to protect the lives and livelihoods of our employees and those in the communities in which we operate. In what continues to be an uncertain year, I would like to express my appreciation to our management team and employees, who worked so diligently and with absolute dedication in maintaining operational momentum and innovative distribution process of our products to the consumers. This made sure that we come out of the most difficult part of the pandemic in a stable place and were ready to go back to normal when the economy started to recover.

Despite the economic downturns to the unprecedented COVID-19 Pandemic during the financial year 2021, Central Insurance Company Limited was largely able to hold on to its business portfolios and achieved Taka 467 Million Gross Premium and Taka 346 million as net premiums. Based on the operating profits in the year 2021 and making persuasion of reserve for Exceptional Losses, Deferred Tax, Taxation and Gratuity fund, the Board of Directors recommended 18% Cash dividend. I believe, the business of the Company will continue to be increased in the years to come.


Central Insurance has always emphasized on professionalism and relied on the dynamism instilled through our highly qualified personnel, who have rendered dedicated services over the years and moved the Company forward to reach its current status. That’s why, our skilled manpower is committed towards responding to customers’ requirements with utmost transparency and efficiency, and therefore, fostering apposite human resources remains one of our Key proprieties in order to be able to serve. A customer’s better and establishes competitive edge over our competitors. We have equally attentive to launching our latest. Its infrastructure extends network coverage to its optimum capacity.


We would like to thank Banks and Financial Institutions with whom we have extensive dealings along with our Regulators, Stock exchange of Dhaka and Chattogram, BSEC, Sadharan Bima Corporation, Government bodies and stakeholders for the continued co-operation and support.


My sincere gratitude goes to my colleagues on the Board for their wisdom and counsel. Our Board comprises a mix of professionals along with renowned corporate specialists. I would also like to thank our top management team and all categories of employees for their resilience and responsibilities in this difficult year. I also put on record my thanks to the leadership’s different initiatives adopted along with drive provided by the Managing Director under the difficult circumstances throughout the year. To all our stakeholders; thank you for your unwavering support.


Finally, I wish to take this opportunity to honor all frontline workers, the true heroes, who stood strong to ensure that our communities were kept safe and healthy, all the while risking their own health and well-being. We have witnessed their commitment, for which we owe them much gratitude. While acknowledging their contribution, I also express our heartfelt sympathy for all whose lives have been impacted by the pandemic.


With thanks and Regards,




Alhaj Md. Masud Hossain

Hon'ble Chairman


Bismillahir Rahmanir Rahim

Dear Shareholders,


I would like to thank all our shareholders, investors, management team, and other stakeholders of the Company. I also take the privilege to thank you all on behalf of myself and Members of the Board for attending the 34th Annual General Meeting (AGM) of Central Insurance Company Limited. Indeed, the way the Government, led by Hon’ble Prime Minister Sheikh Hasina has come forward to support industries. Proactive policy supports as well as a careful structured stimulus package have been the highlights thus; regulatory legislative and Policy certainties will continue to weigh positively on business and investor’s confidence.




As a Non-life Insurance Company with major impact on Bangladesh, the Board has remained focused on our purpose, guided by our values in ensuring continued. Support to our customers amidst the challenging times, keeping our employees safe operating the business a regulatory compliant manner and positioning the company for sustainable performance through this challenging period. The commitment of our workforce and resilience of our business model supported by a robust business continuing system has enabled us to continue to navigate through the COVID-19 pandemic with vigilance and ability and to deliver a performance we can take much pride in the pandemic has plagued the Insurance market of Bangladesh in 2021.


Financial Highlights


As always, we maintain a healthy underwriting profit with an increase of 26.09%. Our most premium generating business classes are Fire, Marine, Motor and Miscellaneous. Central is trying its level best in order for enhancing our underwriting capabilities so that we can be generating significant premium from other unexplored niches.


 Financial Performance





Gross Premium





Net premium





Underwriting Profit





Investment income





Profit before tax





Profit after tax






We believe in core competency, which can effectively be converted into key tool for our future growth potential. We also believe in long term competitive advantages in certain operational aspects such as diversification of customer base, innovation of products, and expanding geographical position.




The year 2022 looks very promising based on several macro developments, including a highly resilient economy that has returned close to normalcy, a large government stimulus package for the private sector, record levels of remittance already starting to flow into Bangladesh from across the world, and increasing expectations of Bangladesh becoming a more integral part of global supply chains. One of the other major reasons of optimism is the government’s thrust on infrastructure development which has significant potential to catalyze economic growth.




I would like to take this opportunity to express my heartfelt gratitude to our esteemed shareholders for their continued faith in us, our revered business partners and talented employees for their immense contribution to the outstanding results of this year. Furthermore, I would like to thank the respected Board of Directors of the Company for their continual guidance and support to steer us through numerous challenges.


Take care and stay healthy


Allah Hafez



Md. Badrul Amin 

Chief Executive Officer (C.C.)


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