A Year of Challenges and Achievements

The past year has been marked by significant global economic fluctuations. With inflation in Bangladesh standing at 9.5% in early 2024, coupled with ongoing geopolitical tensions and rising interest rates, businesses across industries have faced increased financial pressures. However, Green Delta Insurance has remained steadfast, demonstrating strong financial performance across all key metrics.

Our gross premium income decreased by 10%, reaching BDT 4,108 million, while net premium income declined by 5% to BDT 1,783 million. Despite economic uncertainties, our profit after tax remained robust at BDT 602 million, ensuring continued shareholder confidence.

This success is a testament to the relentless dedication of our employees, whose adaptability and professionalism continue to drive our growth. Their commitment to service excellence remains the backbone of our company’s achievements. I extend my heartfelt gratitude to each of them for their invaluable contributions.

Customer-Centric Innovation & Expanding Insurance Access

Our customers are at the heart of everything we do. The trust and faith they place in us are our most valued assets. In 2024, we continue to expand our portfolio of insurance products, ensuring that we cater to the diverse needs of our growing clientele. Bangladesh’s insurance penetration rate remains below 1%, highlighting the urgent need for greater financial protection. To bridge this gap, we have introduced new microinsurance solutions, enhanced digital insurance accessibility, and strengthened our bancassurance partnerships following recent regulatory approvals. These efforts align with our mission of making insurance more inclusive and accessible to all.

Regulatory Excellence & Governance

The regulatory landscape in Bangladesh is evolving, with the Insurance Development and Regulatory Authority (IDRA) introducing stricter compliance frameworks. We remain committed not just to meeting but exceeding these regulatory standards. Our governance framework prioritizes transparency, compliance, and ethical business practices, ensuring that we maintain the highest levels of integrity in all our operations. Our recent ESG disclosures and sustainability reporting have set benchmarks within the industry, reinforcing our leadership position.

Embracing Technological Innovation

The insurance industry is undergoing a digital transformation, and Green Delta Insurance is at the forefront of this evolution. In 2024, we expanded our digital ecosystem, launching AI-powered claims processing, strengthening our cybersecurity infrastructure, and enhancing our customer self- service portals. The adoption of blockchain-based policy management has further streamlined operations, reduced fraud and improving efficiency. Our investments in technology are not just about staying competitive; they are about redefining how insurance is delivered in the modern age.

Commitment to ESG

Environmental, Social, and Governance (ESG) principles are not just a corporate responsibility checkbox for Green Delta Insurance—they are ingrained in our very fabric. Our commitment to sustainability has been recognized with the ‘SDG Brand Champion Award’ in Sustainable Community category by Bangladesh Brand Forum 2024, an acknowledgment of our impactful initiatives in carbon footprint reduction, gender diversity, and community- driven insurance solutions.

Environmental Responsibility

Our paperless digital transformation has reduced operational carbon emissions significantly. We have also introduced climate risk insurance solutions to support agriculture and SMEs affected by climate change.

Social Initiatives

Low-income households now benefit from our microinsurance programs, providing essential financial security to underserved communities. Our women- led insurance products continue to empower female entrepreneurs across Bangladesh.

Governance Excellence

We have strengthened our anti-corruption and compliance frameworks, ensuring complete regulatory alignment and enhancing investor confidence.

Strategic Framework: The 4Ps of Green Delta Insurance

Our strategic approach is encapsulated by our 4P framework—Product, Price, Place, and Promotion— which continues to be the cornerstone of our sustained growth.

• Product Innovation: We have introduced Weather index-based crop insurance, Heat index based insurance, Livestock insurance, Cyber risk insurance to address emerging risks.
• Price Strategy: Striking a balance between affordability and profitability remains key. Our pricing models are data-driven, ensuring competitive premiums without compromising financial stability.
• Place (Distribution & Accessibility): With the recent launch of Bancassurance, strategic partnerships with leading banks have expanded our customer reach. Our digital insurance platforms now cater to over million policyholders, improving accessibility and convenience.
• Promotion & Brand Positioning: Our marketing strategies emphasize social impact, positioning Green Delta Insurance as a responsible corporate citizen. Our campaigns, particularly around insurance literacy and women’s financial empowerment, have reached millions, reinforcing trust in our brand.

The Future: A Vision for 2025 and Beyond

As we look ahead, the future of Green Delta Insurance is brighter than ever. Bangladesh’s insurance market is expected to grow significantly in comparison to last decade. Our continued investments in digital transformation, ESG integration, and product innovation will drive sustainable expansion. We remain committed to financial inclusion, ensuring that insurance is accessible to every Bangladeshi, from urban entrepreneurs to rural farmers. As I conclude, I want to express my deepest appreciation to our shareholders for their unwavering trust and support. Together, we will continue to shape the future of insurance in Bangladesh, building a resilient, responsible, and customer-centric organization.

Thank you very much!

NASIR A. CHOUDHURY
Advisor, Green Delta Insurance PLC.