Bismillahir Rahmanir Rahim
Distinguished Insured, well-wishers and honorable Directors and Shareholders,
Assalamu Alaikum.
As a Chief Executive Officer of South Asia Insurance Company Limited, I express my sincere gratitude to Almighty Allah for His blessing and welcome to all our valued clients. As you know that South Asia Insurance Company Limited started its journey in the year 1999 with a sole aim and object of extending quality services of international standard.
The Company underwrites all classes of non-life insurance business and gathered a commendable reputation in the insurance industry. The Company has highly qualified expert and technical personnel and has the capability for rendering prompt services and settlement of claims. The main motto of the Company is to provide maximum protection to the clients at minimum cost and abide by the rules & regulations setup by Insurance Development and Regulatory Authority (IDRA).
I would like to inform you that various problems and economical setback are common phenomena prevailing these days globally. Despite these drawbacks, South Asia Insurance Company Limited has been able to maintain its strong position competing with 49 non-life insurance companies operating in the insurance sector. The year 2022 was and 2023 are challenging due to Russia-Ukraine and Israel-Palestine war, in addition there was July uprising and revolution in 2024. Despite all these, South Asia Insurance Company Limited marching ahead day by day with strong determination and earned positive business result with gross premium.
income of Tk. 60,39,20,070/- in the year 2024.
You will be happy to know that ARGUS Credit Rating Services Limited has assessed our Company’s financial ability to pay claims and uninterrupted ability to pay liabilities. So our present rate is AA+ level. On the other hand, we shifted our company in new office address at Green City Edge, 89, Kakrail C/A (14th Floor), in the prime location of Dhaka metropolitan city which is our own premises measuring 8904 sft. It may be mentioned here that wehave one plot measuring 12 katha land at Uttara, Sector 17/J, Dhaka. It is also a matter of pride that we have now 50 Branch Offices all over the country operating smoothly and efficiently with good reputation. So I can also happily inform you that after my joining in 2023, the business has been developed and increase in 2025 by 60% compared to the 2022. Moreover the Corporate culture has been developed to a discipline and well structured manner which also has lifted the Company image in the insurance industry.
I believe that with your kind cooperation, support and above all, constant guidance, advice and sincere support by the Members of the Board of Directors, the relentless hard work and sincere efforts of my dear colleagues at all levels, are playing a pioneering role in moving the company forward. I convey my cordial & heartfelt thanks to everyone for their support & cooperation. I pray to Almighty Allah to enable us to run all the affairs of the Company in well and efficient manner. Finally, I would like to express my sincere thanks to the valued policyholders, Hon’ble shareholders and Directors of the Board, all Regulatory Authorities. I wish everyone in good health, long life. May Allah bless us all.
Thank you all
Muhammad Nurul Alam Chowdhury
Chief Executive Officer