FROM THE DESK OF CHIEF EXECUTIVE OFFICER

Bismillahir Rahmanir Rahim,
Dear Honorable Shareholders,
Assalamu Alaikum,

I would like to express my gratitude to the Almighty Allah for his blessings to present before you the Annual Report along with Audited Financial Statements of Sonar Bangla Insurance Limited for the year 2023. It is my great pleasure to welcome you all to the 24th Annual General Meeting.
It is satisfying to observe that Sonar Bangla Insurance Limited considers as a trusted name in our Insurance market which becomes possible for your sincere support on us. You will be pleased to know that Sonar Bangla Insurance Limited completed another successful year in terms of financial performance facing all odd & hard challenges in the year 2023. Sonar Bangla Insurance is maintaining progress with good name & fame ensuring profit gain during last decade. To follow corporate governance is the strong step for operating our business quality. Human resources continues to be the most important asset of the Company. Sonar Bangla Insurance Limited always pays high attention to make its human resources by providing them a strong foundation through professional training, workshops and seminar. Dear Shareholders, despite various obstacles for Economic growth, Sonar Bangla Insurance Limited has kept its business in

responding to the needs and expectation of the customers. We believe that effective Corporate Governance Code bring the growth and development of an Organization. So, the issues of Corporate Governance are continuously complied priority basis and draw keen attention in all respects of the company's management.
Sonar Bangla Insurance Limited settled every claim within the shortest possible time. We attempt to improve our core competency in claims settlement. Sonar Bangla Insurance Limited has made every best effort to achieve the business. As a result, Sonar Bangla Insurance Limited has eared a satisfactory gross premium income of Tk. 59,83,22,028/- in 2023 and net profit before Tax was Tk. 9,99,23,438 /-.
Dear Shareholders, you will be happy to know that Alpha Credit Rating Ltd. has asses the rating of Sonar Bangla Insurance Ltd. as "AA+". Rating "AA+" means that the Company is able to settle claims with strong risk protection factors supported by good financial performance and solvency, secured re-insurance arrangement and adequate internal control helps to increase the image of the Company.
You will be also happy to know that considering the overall situation for the year 2023, the Board of Sonar
Bangla Insurance Limited has recommended 10% cash Dividend for the interest of the shareholders.
I humbly convey my gratitude to the Honorable Chairperson and all Honorable Members of the Board of Directors for their wise and in-depth suggestions and tireless guidance towards the management. I would like to convey my gratitude to all the shareholders and others stakeholders for their continuing trust and support in the company.
Also, I specially convey my gratitude to Insurance Development and Regulatory Authority (IDRA), Bangladesh Securities and Exchange Commission (BSEC), Registrar of Joint Stock Companies and Firms (RJC), Dhaka Stock Exchange Ltd. (DSE), Chittagong Stock Exchange Ltd. (CSE), Bangladesh Bank and all scheduled commercial Banks & Financial Institutions, Central Depository Bangladesh Ltd. (CDBL), Bangladesh Insurance Association (BIA), Bangladesh Insurance Academy & Sadharan Bima Corporation (SBC) for their continuous co-operation and facilitation that helped us to grow in many ways.
I express my heartiest appreciation for the employees, whose outstanding professionalism, commitment and initiative made the organization's growth and success possible.
May Allah bless us all.
With warm regards,

Md. Shamsul Huda
Chief Executive Officer