Message from the CEO
Dear Shareholders, Distinguished Ladies, and Gentlemen,
On the occasion of the 17th Annual General Meeting we feel privileged to be able to report for
the year 2016 as another exciting year for Agrani Insurance Company Ltd.
Our relentless focus on emerging opportunities has enabled the company to step forward with a positive growth in a challenging environment. In this year our net profit was Tk 72.69 million despite all adversities in the business sector. Throughout the year, Agrani Insurance has been able to maintain its substantial progress. The business has reached to Tk 407.06 million which is 13.84% higher than the preceding year. We always try to provide the best quality services to our customers. Right now we are one of the leading private sector Non-Life Insurance companies in Bangladesh having 29 branches situated in a commercially important places of the country.
Global growth almost remains within the projected threshold and hovered around 3%, while the economic growth in the USA slides during the first half of the year which may be considered as the corollary effect of Brexit but ultimately its long term impact proves to be insignificant. The world economy is expected to gain traction in the year 2017 weathering the emerging headwinds. In the year 2016, the growth trend of advanced economies had plunged to 1.6% while the growth paradigm of emerging and developing economies is expected to take up turn in the current year after experiencing 5 years of consecutive downhill trend. In advanced economies, a modest and uneven recovery is expected to continue, with a gradual narrowing of output gaps. The slowdown and rebalancing of the Chinese economy, lower commodity price, and strains in some large emerging market economies will continue to weigh on growth prospect in 2016-17. Indian growth rate is projected to be 7.6% during 2016.
On behalf of management of Agrani Insurance Company Ltd., I express my appreciation and thanks to the Insurance Development and Regulatory Authority (IDRA), Bangladesh Securities and Exchange Commission (BSEC), Dhaka Stock Exchange (DSE), and Registrar of Joint Stock Companies and Firms and other stakeholders for their continuous help and assistance, valuable guidelines and co-operation provided to us from time to time.
Md. Anwar Hossain
Chief Exrcutive Officer (CEO)
Agrani Insurance Company Ltd.