Our commitment to environmental, social and governance (ESG) principles is not merely a checkbox in corporate governance; it is embedded in the very fabric of our operations and our organization.

Ladies and Gentlemen, Distinguished Shareholders of Green Delta Insurance,
As-Salaam O-Aleikum!

It is my honour and a privilege to stand before you today as the Advisor of Green Delta Insurance, a company that has not only weathered the complexities of the insurance industry but has also positioned itself on the precipice of significant growth. We are Bangladesh’s largest general insurance company and I am proud how we have built the business edifice with a steadfast commitment to innovation, customer excellence, governance and a balanced approach to growth.

While there have been near macro-term challenges, we are focused on ensuring the fundamentals of our business remain strong. We continue to expand our consumer franchise despite heightened competition in the market. This has enabled us to remain in good stead in the year 2023 with performance achieved across almost all our major financial metrics.

The year 2023 has been marked by notable milestones and unwavering dedication from our team. I extend my heartfelt gratitude to our employees whose relentless pursuit of excellence has propelled us forward. Their commitment to service, professionalism and adaptability in the face of challenges reflects the core values of our company.

Our customers are at the heart of what we do and the trust and faith they have reposed in us is our most valued asset. As we continue to expand our portfolio of insurance products, we are mindful of the diverse needs of our clientele. Customer-centricity thus remains our guiding principle, driving us to tailor solutions that resonate with the unique needs and desires of our policyholders.

The regulatory landscape in Bangladesh is evolving and we are committed to not just meeting but even exceeding compliance standards set by the Insurance Development and Regulatory Authority (IDRA). Upholding the highest standards of governance and transparency is paramount as we navigate the intricacies of the insurance market.

I also want to touch upon how technological innovation is reshaping the industry and our company is at the forefront of leveraging these advancements. From digitizing an increasing number of our processes to enhancing our online presence, we are dedicated to providing a seamless and efficient experience for our customers. Embracing technology is not just a necessity; it is a strategic imperative for staying ahead in a rapidly changing environment.

I wish to share with you some insights into the immense opportunities that lie ahead, our unwavering commitment to environmental, social and governance (ESG) principles, and the strategic underpinning of our operations through the lens of our 4P framework.

Green Delta Insurance has traversed a remarkable journey, navigating the ebbs and flows of the insurance landscape. Our resilience, dedication to service excellence, and innovative spirit have propelled us forward, enabling us to emerge as a leader in the general insurance industry. As we reflect on our past achievements, it is crucial to recognize that they serve as stepping stones toward an even more promising future.

The insurance industry of Bangladesh is undergoing a transformative phase, presenting us with massive growth opportunities. In an era defined by increasing complexities and uncertainties, the demand for robust risk management and protection solutions is unprecedented. Green Delta Insurance, with its proven track record, resilience and adaptability, is well-poised to capitalize on this favourable climate.

Our commitment to environmental, social and governance (ESG) principles is not merely a checkbox in corporate governance; it is embedded in the very fabric of our operations and our organization. As responsible stewards of your investment, we recognize the profound impact we can have on society and the environment. Our ESG focus extends beyond compliance – it is a proactive approach to ensuring sustainable, ethical and socially responsible business practices. This commitment resonates not only with the values of our shareholders but also positions Green Delta Insurance as a beacon of responsible corporate citizenship.

Now, let me elaborate on our strategic approach, which is encapsulated by our 4P framework – Product, Price, Place and Promotion.

Firstly, I note our Product strategy. Green Delta Insurance boasts a comprehensive portfolio of products that cater to the diverse and evolving needs of our clients. From traditional insurance coverages to innovative solutions addressing emerging risks, our product offerings are a testament to our commitment to staying ahead of the curve.

Moving on to Price, we recognize the delicate balance between affordability and profitability. Our pricing strategies are crafted with precision, ensuring that our premiums remain competitive while safeguarding the long-term financial health of our company. This equilibrium allows us to provide value to our clients while delivering sustainable returns to our shareholders.

Place is a crucial aspect of our strategy. Our strategic distribution channels, specifically bolstered by bancassurance that was recently permitted by the regulator, and our partnerships have facilitated our market penetration and have contributed to our mantra of “Insurance for All”. By leveraging technology and expanding our geographical footprint, we have enhanced accessibility, reaching a wider customer base and securing our position in both established and emerging markets.

Lastly, Promotion is the vehicle through which we communicate our brand's value proposition. Our marketing endeavours go beyond the conventional portrayal of financial benefits. We emphasize the positive impact our products have on the community, society and the environment. This approach aligns with the growing consciousness of customers who not only seek insurance-led protection and security but also want to contribute to a sustainable and responsible future.

In conclusion, Green Delta Insurance stands at the threshold of an era marked by transformative growth. The massive opportunities before us, combined with our unwavering commitment to ESG principles and the strategic deployment of our 4P framework, positions us for sustained success.

As we collectively navigate this journey, I extend my heartfelt gratitude to each shareholder for your trust and support. Together, we will continue to build a resilient and responsible legacy.

Thank you very much!

Nasir A. Choudhury
Advisor