Message from CEO

Pre-tax profit in 2024 was 13.96 crore as against 11.23 crore. total reserve has gone upto Tk. 169.78 crore in 2024 from Tk. 171.54 crore in 2023.
In the year 2024, was a challenging year for the economy due to a lot of problems to our overall business progress such as change in Political leadership & political violence, economic slowdown, stock market instability, social unrest, soaring inflation, dollar price hike, geopolitical tensions, escalating environmental risks, and capital constraints have created a perfect storm for commercial carriers. According to the Marsh Global Insurance Market index pricing models and renewal underwriting are facing a dual challenges accurately predicting inflation’s impact on goods, wages and social inflation, while maintain strict risk discipline in softening markets.
Worldwide navigating complex landscape is critical for non-life insurer. Middle East unrest, continuous Russia and Ukraine war have clearly demonstrated our society’s susceptibility to systematic hazards, the trail effects of which will be felt for a long time to come and unhealthy competition in the insurance arena. Unhealthy trend in domestic capital market Several exchange rate fluctuation of foreign currency ,inflation rate etc. Despite the above adverse situation in the economy, due to imposition of some effective measures by Insurance Development and Regulatory Authority (IDRA) in the insurance industry. The entire insurance sector in the country has moved ahead.
Despite a challenging economic landscape, EIPLC has demonstrated resilience and sustained growth. Our success driven by adaptability, innovation, and strategic solutions that reinforce our position as a market leader.
I extend my sincere appreciation to our loyal clients, trusted partners and value shareholders, whose confidence has been vital to our progress. The dedication of our talented team, combined with your unveiling support has enabled us to overcome expectations and strength our legacy of excellence.
We want to build up a well balanced business portfolio which is not only depended on any particular type of business on client. With the constraints of insurance database, it is indeed a very tough to launch new non life insurance products. Eastern Insurance, with its professional and expert underwriters, has been working on it, particularly for development of personal lines business. We are extending our research and Development work to develop new products and services. This initiative lights with the company’s broader plan of diversification and adaptation to changing market dynamics and demonstrates our commitment to serving a broader segment of the population and increase insurance awareness. Our other aspiration not only doing the business but also settlement of valid claims quickly. We are committed to providing exceptional Client service, particularly when it comes to claims. During these challenging times, we provide the humanitarian and financial support to our valued clients need. This dedication renders into streamlined processes, clear communication, and speedy resolutions, ensuring you feel confident and supported throughout the claims journey.
Eastern Insurance PLC. always keen to be compliance with the rules and regulations and guidelines issued by the Authority viz IDRA, SBC, BSEC, Bangladesh Bank and provides required information to the Authority timely. Eastern Insurance Company aspires to reach the climax of highest standards of Corporate Governance in the insurance sector and apply the guidelines by above mentioned regulators.
I am pleased to report with great pleasure to know that Eastern Insurance PLC. has been awarded an outstanding the rating of “AAA” for the consecutive third time by National Credit Ratings Ltd., (NCR) based on its financial statements ended on 31 December 2024. This rating has been assigned in consideration of its good fundamentals such as good financial & technical performance, sound solvency position, re-insurance arrangements with local and foreign re-insurance, sound internal control and skilled top management etc. we take great pride in these ratings, as they affirm our institutions strong fundamentals, strategic vision, and dedication to creating value for all stakeholder’s while contributing to the nation’s economic growth.
Finally, I would like to thank each and every employee particularly our dedicated beloved branch in charges whose are the foundation of our organization for their sincere dedication, commitment and extreme hard work all through the year to achieve our corporate mission and vision. Their relentless efforts are instrumental in achieving our shared goals. I cordially thanks and appreciate every valued customer/clients for responding their faith on us during the year and looking forward to receive the same in the days to come. I also thanks all regulators viz IDRA, SBC, BIA, BAPLC, BIF, CDBL and all concerned Government Offices including the Ministry of Finance, Ministry of Commerce, International Reinsurers and Broker, Bangladesh Bank, all Nationalized Bank, Commercial Bank and Financial Institutions, Registrar of Joint Stock Companies & Firms (RJSC), Bangladesh Securities and Exchange Commission (BSEC) Dhaka Stock Exchange Limited (DSE) Chittagong Stock Exchange Limited (CSE) National Board of Revenue (NBR). I would also like to thanks & gratitude to our Hon”ble Chairman and Board of Directors for their in valuable guidance, encouragement & inspiration which are very much crucial for the success of the Company.
Lastly, I deeply thanks with great honor each and every Shareholder for their constant support and faith to the EIPLC. We hope that the coming year will bring in greater success to Eastern Insurance PLC.
I reassure all respected shareholders that we shall stand by you and protect your interest always and make every effort to honor your trust for running the company smoothly with the highest level of ethics, integrity and sincerity. May the Almighty Allah guide us for enormous success.