Bismillahir Rahmanir Rahim

Distinguished Shareholders,

It is a great pleasure to extend a warm welcome to all of you for your kind presence in the 38th Annual General Meeting (AGM) of Central Insurance PLC.

Let me express my heartfelt gratitude for your continued support for the company. It is because of your kind patronage and persistent support that we are recognized as a promising insurer in the insurance industry in Bangladesh.

On behalf of the Board, I am very glade to present the Annual Report of the Company for the year ended on 31st December, 2025, with the Audited Accounts before you. On this 38th Annual Gathering of the valued shareholders of CIIC, would like to draw your attention to some major achievements of the Company in 2025.

Basically, in 2025, the main focus of our company was enhancing profit growth from underwriting business, protecting clients in the face of large claims and strategic implementation of integrated Software in the operation of the Company. .

Global Upsets and the post effect of the Monsson Revolution in Bangladesh

You know, global economy faced a new challenge after the Great Depression of the 1930s due to COVID-19, Russia-Ukraine War impact resulting in higher inflation rate of the Globe. Global output was contracted by a significant percentage in 2025, reflecting above expectation growth in some of the largest economies and the prudent extension of pandemic era stimulus programs by some governments. The global economy continues to be weakened by the war through significant disruptions in trade and food and fuel price shocks, all of which are contributing to high inflation and subsequent tightening in global financing conditions. The only measures should be policy instruments: income protection measures and job protection measures.

However, we all know the risk of a negative impact on Bangladesh's balance of payments was raised due to the Covid-19 and Russia-Ukraine war, together with the sluggish global economic growth, supply chain disruptions, rising prices for fuel, gas, food, consumer goods, industrial raw materials, and freight on the international market.

The "Monsoon Revolution" in Bangladesh, culminating on August 5, 2024, saw the fled of Dictator Prime Minister Sheikh Hasina from the country and the formation of an interim government. This followed three weeks of student-led protests and a period of intense unrest, including violence by law enforcement and political groups.

The Bangladesh economy in 2025 is experiencing a fragile recovery with sharply moderated real GDP growth, projected at around 3.7%-4% for FY2025. Inflation remains high, with 8.29% reported in November 2025, and private investment has fallen to a five year low, driven by political instability and structural vulnerabilities. Key Aspects of the 2025 Economy: Growth & Output: The economy saw a sharp slowdown, with Trading Economics expecting 3.9% growth, reflecting a significant decline from previous years. The Asian Development Bank (ADB) slashed growth forecasts to 4% for FY25, citing global supply chain disruptions and fuel prices. Inflation and Cost of Living: While official statistics (BBS) showed inflation easing to 8.29% by November 2025, households experienced continued distress due to high food prices and reduced purchasing power.

The global economy had slower growth in 2025 due to tighter financial conditions and geographical tensions. Emerging economies and developing countries were in troublesome condition to keep constant growth of their economies; projected growth of developed economies, especially in Europe, would decline. However, the insurance sectors in emerging economies are expected to rise in 2025. Inadequate policy responses in some areas of the institutional investors had a negative impact on both global and local industry. Total economic growth of the globe, however, has been forecasted to slow down. Forecasting growth of the insurance industry in Bangladesh is yet to be projected.

As a result, while the world fears an increasing recession, Bangladesh is also going through its own social, economic and financial challenges and all the acknowledgments should be gives to the government for taking stable and assertive policies.


We are fortunate

Our company has been able to contribute value to our stakeholders over the years by increasing in growth-oriented segments, such as:

• In a product mix built on innovation and diversification
• In a skilled and dedicated workforce
• Unwavering focus on sustainability and environmental
• Social and Governance (ESG)standards
• A large and loyal customers
• Intermediary partners

It is company's responsibility to maintain our investment in digital and technological Infrastructure. So that the customers and distribution partners receive better service. Moreover, this will help in optimizing the expenses by enabling the maintenance of functional paperwork. Also, improve the operational efficiency and ensure that the company provides prompt, equitable and competent service across the board to all our customers. Moreover our ground work is solid and the company possess the knowledge, tools and expertise that is essential for success. Customers and partners have higher expectations towards our company, also we have a strong fiscal management standard to back up our conviction as a large and stable insurance conglomerate. More to this, each department in our organization is comprised of skilled professionals who share a commitment in providing exceptional service to our clients, as a result, the company will keep setting boundaries to per sue company's goal.

However, CICL has been maintaining a good track record in payment of its dividend, from divisible profits of 2025, we recommended 12% cash dividend from Net Profit Tk. 99.47 million to declaration as DIVIDEND for the year 2025 in the AGM by the honorable shareholders. The paid-up capital of the company has reached 531.45 million taka and leaves a remarkable position among non-life insurance companies in Bangladesh.

IDRA Issues and Rural Business

The Insurance Act, 2010 requires non-life insurance services to be dispersed to the rural as well as to the social sector. Conceived in prudent underwriting, CIC follows all applicable rules, regulations and orders of IDRA meticulously. CIC has been sending information about policies to the Unified Messaging Platform (UMP) regularly at the end of every day’s business. Also, the company has been providing insurance coverage to the insured party by underwriting Small and Medium Enterprise (SME) businesses through its branch network at remote areas of the company. It is also known that, in most of the cases this small sector remains unprofitable.

Capital Market Stabilization Fund (CMSF)

For the general investor interests, a steady securities market is enabled. Thus, Bangladesh Securities and Exchange Commission (BSEC) constituted the Capital Market Stabilization Fund (CMSF) with the unsettled cash or stock dividend and non-refunded public subscription money or un-allocated rights shares from the issuer of listed securities lying with them for more than three years. CIC, being a listed issuer, has transferred the required amount of unclaimed dividend in the fund, maintaining compliance with the rules

Future Outlook

Based on April 2026 MF projections, Bangladesh's nominal GDP is expected to reach approximately $510 billion in 2026, marking significant growth as it nears graduation from the least developed country (LDC) group. The GDP per capita is projected to be around $2,911, slightly surpassing India 2,812 in current dollar terms.

Key 2026 GDP Projections

• Nominal GDP: Projected at $$510-511 billion.
• GDP Per Capita: Estimated at $2,911.
• Growth Rate: Projected to rebound to around 4.7%.
• PPP GDP: Estimated to be roughly $1.9 trillion - $2.38 trillion based on different models.

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Economic Outlook Context

• Surpassing India: Bangladesh is set to record a higher GDP per capita than India in 2026 due to exchange-rate dynarnics and faster growth, though this is a narrow measure of the economy.
• Growth Drivers: The Asian Development Bank projects moderate growth in consumption and investment, supported by strong remittance inflows and public spending, with a potential rebound in service and industrial sectors.
• Challenges: Elevated inflation, specifically non-food inflation, and potential supply chain disruptions are noted risks.

To conclude my comments, I would like to convey our deepest sympathy and compassion to all those affected by the tragic war taking place in Ukraine. We really hope for an early and peaceful solution to the conflict. However, we do believe that Bangladesh will definitely be able to cover up the difficulties posed by the crisis. CICL with its prudent insurance services will remain committed to overcome any challenges of the future and to be in momentum for prudential business growth in 2026.

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Conclusion

To sum up, from the Board of Directors, would like to thank our shareholders, regulators, stakeholders and government i.e., Ministry of Finance, Bangladesh Securities and Exchange Commission (BSEC), DSE, CSE, CDBL, Bangladesh insurance Association (BIA) and Bangladesh Insurance Forum (BIF), Bankers and Customers for their continued support during this challenging time.

My warnest gratitude to all the members of the Board of Directors for their valuable time and energy in supporting me to carry out my responsibilities during the meetings and strategy formulation to run the Company to a new height. I have no hesitation in mentioning the dedication and professionalism of the management team of the Company. Once again, would like to thank all our clients, our stakeholders, our directors and all of you for being with us through these years and we are looking forward to sharing the company's success with you all also in the future.

Once again, would like to thank all our clients, our stakeholders, our directors and all of you for being with us through these years and we are looking forward to sharing the company's success with you all also in the future.

Thank you to everyone who has been a part of our development and for your steadfast support and trust which has strengthened the company to its present glory.

Thank you,


Mohammed Masud Karim
Chairman