Bismillahir Rahmanir Rahim
Dear Respected Shareholders – Assalamu Alaikum.
Greetings to everybody at the 25th Annual General Meeting of Islami Commercial Insurance PLC. On the eve of this happy
moment I humbly take this opportunity to express my heartfelt gratitude to all of valued clients, distinguished shareholders and
respectable well-wishers.
I would also like to express my gratitude to the Honorable Chairman and the Board of Directors of the Company who have been
providing their generous guidance to the management team which has helped them much to enhance and present internal qualities
and confidence over time. I wish the same will be continued in the future.
In spite of many challenges, we have been able to continue the progress of business trend of our company. I feel honored to present
the audited financial statements and operating performance of Islami Commercial Insurance PLC for the year ended on 31st
December 2024.
This year, our company able to make a net profit before tax Tk. 87.81 million. You are well known that Islami Commercial
Insurance PLC has been consistently providing a 10% cash dividend for the last 03 (three) years. Maintaining this continuity, this
year, that is, for the year 2024, the Board of Directors recommended 10% cash dividend for all shareholders for the year 2024. If
Insurance Market is stable and your support remain with us, we hope that in future we can also be able to declare more dividend.
In 2024, our gross premium income stood at Tk. 631.30 million whereas in 2023 it was Tk. 536.06 million. The Company’s total
assets on 31st December 2024 stood Tk. 1,508.94 million compared to Tk. 1,465.33 million in 2023.
Our credit rating status is “AA+” (pronounced as Double A Plus) rated by Argus Credit Rating Services Limited (ACRSL) which
reflects our good financial strength and high claims paying ability, protection factors are good and there is an expectation of variability in risk over time due to economic and/or underwriting conditions.
I am very much optimistic that Islami Commercial Insurance PLC will go forward by our collective efforts and active support and
guidance of our Board of Directors and shareholders. I believe that the year 2025 will be more vibrant and fruitful year for Islami
Commercial Insurance PLC.
Finally, I would like to express my sincere thanks to the valued policyholders, Hon’ble shareholders and Directors of the Board, all
Regulatory Authorities and my colleagues. I wish everyone’s good health, longevity and well-being. May Allah help us.
Ma-Assalam.
Qazi Mukarram Dastar
Chief Executive Officer