Ladies & Gentlemen
I have had the privilege to convey my heartfelt felicitation to you all on behalf of the Board of Directors and on my own behalf for attending the 31st Annual General Meeting of the Janata Insurance Company Ltd. and place before you Company’s Annual Report for the year 2016.
The Directors’ Report has elaborately dealt with the overall performance of the company pertaining to the year 2016. I would like to point out the main features regarding the affairs of the company.
In review the financial position of the Company you can notice that despite keen and unhealthy competition prevailing in the Non-Life Insurance market of our country, business volume of Janata Insurance Company Ltd. during the year 2016 has been increased significantly. But, net profit before tax of the Company decreased in comparison to previous year due to decrease of interest on FDR and settlement of more claim cases mainly. It is also mentioned that considering the company’s low profitability and the need for future sustainable development, the Board of Directors of the company has not recommended any dividend for the year 2016.
Dear Shareholders, you know risk is our business. Our object is to prove our integrity and credibility to the Clients by extending sincere and meritorious services to them. Janata Insurance is working to secure a reasonable market share by rendering prompt quality services through advance technology, sound underwriting, proper re-insurance and quickest settlement of claims to our valued clients. And we are trying to ensure payment of dividend on Investment of the Shareholders regularly in future. We hope, by the more co-operation and help of the stakeholders of the Company, in future, we will be in a position to reach the goal of success under the strict supervision of the new Insurance Laws and IDRA.
In fine, I would like to thank our honorable shareholders and all stakeholders for their continuous support. Moreover; I would like to thank and express my gratitude to my honorable Board of Directors & Advisers for their valuable input, guidance and support, and the management team for their commitment to implementing our corporate strategy.
Hoping this finds you in the best of your health, sprits and good luck.
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