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Bismillahir Rahmanir Rahim
Dear Valued Shareholders and all Concerned,
Assalamu Alaikum,
By the infinite mercy of the Almighty Allah, it gives me immense pleasure, on behalf of the Board of Directors of Eastern Insurance PLC., to welcome you all to the 40th Annual General Meeting. At the outset, I would like to express my sincere gratitude to the Almighty Allah for granting me the opportunity and responsibility for the second term to serve as the Chairman of a well-reputed organization. It is indeed a great honor and privilege to be entrusted with the noble task of guiding this esteemed institution.
Our beloved company is on an inspiring journey of four decades. Over the past 40 years, Eastern Insurance PLC. has grown steadily building a strong reputation through commitment, integrity, and dedication to service. While the world around us has changed significantly over the years, our mission has remained steadfast to provide reliable and innovative insurance services while maintaining the trust and confidence of our valued clients and shareholders. provide reliable and innovative insurance services while maintaining the trust and confidence of our valued clients and shareholders.
At this moment, I would also like to express my deepest condolences for the members of our Eastern family who departed from the world. May the Almighty Allah grant them eternal peace and place them in Jannatul Ferdous.
It is my great pleasure to present before you the Annual Report of Eastern Insurance PLC. for the year 2025. Our journey has always been guided by a commitment to balancing sustainable growth with responsible corporate practices. This balance is not merely a strategy but a core principle that guides every aspect of our operations.
Despite the challenging environment in the insurance sector, the company has been able to underwrite a moderate volume of business during the year under review. This achievement has been possible due to the sincere dedication and relentless efforts of our employees, the continued trust of our respected clients and shareholders, and the prudent guidance and the capable leadership of the Board of Directors. I take this opportunity to express my heartfelt gratitude and sincere thanks to all of them and look forward to their continued support in the years ahead.
Our world is evolving rapidly, presenting both opportunities and challenges. In response, Eastern Insurance PLC. continues to expand its services and strengthen its market presence to meet the diverse needs of our clients. We firmly believe that true growth is not measured solely by financial figures but by the value we create for our stakeholders and the security we provide to our clients.
I am pleased to inform you that the Board of Directors has recommended a 15% Cash Dividend for the year 2025, subject to approval by the esteemed shareholders at this Annual General Meeting. This recommendation has been made after careful consideration of the company’s revenue, cash flow, financial position, capital requirements, profitability, liability position, reserve strength, dividend consistency, and future expansion plans.
Despite global economic uncertainty, geopolitical tensions, high inflation, and slower economic growth, Eastern Insurance PLC. has remained resilient. We have successfully strengthened our operational efficiency and continued to enhance shareholder value while remaining committed to our customers and communities.
I am also delighted to inform you that Eastern Insurance PLC. has been awarded the prestigious “AAA” credit rating by National Credit Ratings Ltd. (NCR) for the fourth consecutive year. This rating reflects the company’s strong financial position, excellent claim-paying ability, sound management practices, and a stable operating environment.
Our commitment to responsible corporate conduct remains unwavering. We place great emphasis on effective risk management, transparency, and ethical practices to ensure that every promise made to our clients and stakeholders is honored with integrity.
I take great pride in the numerous achievements that Eastern Insurance PLC. has accomplished throughout its illustrious 40-year journey. I look forward with great optimism to the continued progress of our company in the years ahead.
As we look ahead, we remain cautiously optimistic about the opportunities and challenges in the evolving insurance landscape. The global economy is expected to continue experiencing volatility, while Bangladesh’s economy shows steady growth supported by regulatory reforms, infrastructure development, and rising demand for risk protection. Strengthening risk management, enhancing operational efficiency, and maintaining robust corporate governance will remain central to our strategy. Our commitment is to create sustainable value for shareholders, serve our clients with excellence, and continue reinforcing our position as a trusted leader in the non-life insurance sector. We also committed to our core values of integrity, transparency, professionalism, and customer-centric service. These values guide every decision we make and ensure that we continue to serve our stakeholders with excellence and responsibility. Eastern Insurance PLC. is more than an insurance company it is a trusted partner in progress. l ogether, we are building a future of stability, innovation, and shared success.
I would also like to express my sincere thanks to my fellow members of the Board of Directors for their wisdom, cooperation, and guidance.
My heartfelt appreciation also goes to the Insurance Development & Regulatory Authority (IDRA) and other regulatory bodies and government institutions including the Ministry of Finance, Ministry of Commerce, Sadharan Sima Corporation (SBC), Bangladesh Bank, Bangladesh Securities and Exchange Commission (BSEC), Dhaka Stock Exchange Limited (DSE), Chittagong Stock Exchange Limited (CSE), Registrar of Joint Stock Companies (RJSC), National Board of Revenue (NBR), Bangladesh Insurance Association (BIA), Bangladesh Insurance Forum (BIF), Bangladesh Public Listed Companies Association (BAPLC), Central Depository Bangladesh Limited (CDBL), along with all nationalized and commercial banks, financial institutions, international reinsurers, and brokers for their continued cooperation and support.
Finally, I would like to thank our respected investors and shareholders for their unwavering trust and confidence in Eastern Insurance PLC.
The Board firmly believes that the coming year will bring even greater success for our company. Together, we look forward to building a stronger and more prosperous future.
May the blessings of the Almighty Allah remain upon us and the entire Eastern Insurance family.
With warmest regards and best wishes.
A.S.M. Waheeduzzaman
Chairman, Board of Directors
