First, the importance of new technology: As new
engineering insights and techniques were invented, he
kept refining his machine so that it would always be
better than the rest.
To our shareholders,

In continuation to our Hon’ble Advisor’s mention of Cyrus McCormick, it is essential for me to add that this legendary American inventor wasn’t the only one who had invented the mechanised harvester at that time. So the essential question is why did he succeed and others fail? I believe it was because McCormick understood three things better than his competitors:


Our insurance industry is closely intertwined with the economic development of our country. Though the year 2015 started on a challenging note with the protraction of political turbulence, matters settled down soon even as we witnessed green shoots sprouting on the economic landscape, slowly but surely. Today, many of the fundamental drivers are in place to support the growth  of the Bangladeshi insurance industry. Not the least is a significant under-penetration with a large percentage of the population not even knowing that such a vital service exists in the country. In a 160-million-strong population, insurance coverage of any kind will be less than one percent, making the country one of the most attractive from the insurance point of view.

The other crucial point that I wish to make is that the relevance of insurance in today’s world has never been greater than before. This is because the speed and interlinking of risk continues to increase and the resulting complexity is much more far-reaching than before. Some of the macro risk issues that face our clients include threats from accelerating climate change, greater population density and operational ineffectiveness or negligence, among several others. The magnitude of these traditional risks has never been greater and the list does not include emerging issues such as cyber risks and the ensuing reputational damage or the enterprise- wide threat from pandemics like the recent Zika virus that is slowly exploding to emerge as a global health threat.

In this context, our significance, bearing and responsibility cannot be downplayed as we remain committed to developing innovative solutions that help our clients understand and manage the magnitude of these risks better. In doing so, we not only play the role of a safeguard in terms of protecting our clients’ interests but also that of a catalyst with regards to accelerating national economic progress.

We are increasingly hearing from customers that the world-class platforms we have built in broad categories like risk and specific areas like health are delivering significant value. I am happy to report that we continue to

build on our industry-leading health platform that is well- positioned as the  population  becomes  more  immune to health risks on the one hand and the cost of care continues to outstrip general inflation on the other. With a view to enhance the insurance benefit for our customers, we are also looking to progressively provide a holistic bundled solution that not only reinforces customer value but also makes it that much more difficult for competition to catch up. We are looking to sign multiple agreements with the relevant service providers to jointly offer this packaged solution.

Realizing our position in the history of Bangladesh and as a torchbearer of the insurance industry, we are looking forward to enhance the ‘anytime, anywhere’ insurance proposition for our countrymen. With an enduring focus on prioritizing customer needs and  requirements,  we are increasingly looking to embrace several sustainable practices by leveraging technology that not only enhances customer convenience but also encourages environmental sustenance.

Overall, I believe that this is a great time to be a part of Green Delta Insurance. As we look ahead, we have the opportunity for long-term improvement and significant growth. With strong levels of capitalisation and significant financial flexibility, we have positioned our industry-leading platforms for significant shareholder value creation in 2015 and beyond even as we continue to launch newer products targeting segments that provide ample scale-up potential.

Thank you for the continued faith and trust you have placed in our Board of Directors and the management team. As we build our future, your support is important and I am sure that you share  my  confidence  in  the view that continued success lies ahead for Green Delta Insurance in 2016 and beyond.

With warm regards
Abdul Hafiz Choudhury
Independent Director and immediate past Chairman
Green Delta Insurance Company Limited