Quamrul Hasan Khondaker
Chief Executive Officer
Bismillahir Rahmanir Rahim
Respected Shareholders,
Assalamu walaikum,
It gives me immense pleasure to welcome you all to the 6th Annual General Meeting (AGM) of Jamuna Life Insurance Company Limited and place before you the Audited Financial Statements for the year ended 31st December 2020 along with the Auditors report thereon and the Director’s Report of the Company.
Annual Report-2019 has been dispatched to you for your kind perusal. I believe you will get a comprehensive view from the Director’s Report and the financial status of the company.
The Annual General Meeting (AGM) is a valuable opportunity for shareholders to communicate with the Board and together review the performance of the Company in 2019 and discuss our strategies to increase policyholders and shareholders values. Over the years, our corporate culture has developed to helping people sustain the quality of their lives. Our Corporate culture is what motivates us at Jamuna Life to think, work hard, innovate and create service with improvements in service delivery of our insurance products of high value at low cost.
In this hurdled situation and competitive market, the field force with the help of the management officials Jamuna Life has achieved a record premium of Tk. 99.20 million which was Tk. 84.21 million in 2018. This strong performance reflects innovative and good customer service.
Realizing the need to improve productivity to maintain profitability in a competitive environment, the company continued its aggressive cost management strategies.
You will become very much happy to know that the payment of Policyholders in the year 2019 was Tk. 12.89 million as against Tk. 5.01 million in the year 2018 being an increase of 257.38%. In the year 2019 our company so far paid Tk. 1.90 million as death claim, Tk. 10.31 million as survival benefit, Tk. 0.70 million as surrender value.
The Life Funds as at 31st December 2019 was -Tk. 36.16 million compared to -Tk. 38.36 million in 2018 showing a growth of 5.74%.
To procure qualitative and sustainable business we arrange business development meeting, workshop, and tour regularly. To enhance the efficiency, employees are being trained in Bangladesh Insurance Academy, Bangladesh Insurance Association and other institution on a regular basis.
JLICL has also redesigned and optimized their website to give policyholder’s an opportunity for Policy Enquiry at any point of the day and the website is being further ready up for Online Premium Payment. Our Company is also facilitating the field force through Web Base Application where the customer can use it for information, transaction and learning purposes.
Jamuna Life always focus on upgrade the technology infrastructure to bring in higher levels of operational efficiency, managing customer’s expectations in the new era and simultaneously prepare the Company for long-term growth prospects through newer business avenues and innovative products and solutions. We have put in a drive to significantly upgrade the Jamuna Life Brand to improve our policy service and penetrate the upscale urban market.
I would like to express my gratitude to all my colleagues in the Board of Jamuna Life, the honorable Patrons, Shareholders, Policyholders, Management, Regulatory bodies and well-wishers of the Company who extended their cooperation, suggestion, and guidance in running the business successfully. I would also like to record my sincere thanks to the employees of the company for their dedicated service during the severe spreading pandemic (Covid-19) for the growth of the company.