Message From Chairman

Bismillahir Rahmanir Raheem,
Dear Valued Shareholders, Policyholders, and Stakeholders,
Assalamu Alaikum Wa-Rahmatullah.
It is my honor to present the Annual Report for the year 2023. This year marks yet another chapter of resilience, adaptability, and growth for Chartered Life Insurance Company. In a landscape that remains challenging due to global economic uncertainties, coupled with local socio-economic factors, we have maintained our focus on serving our policyholders and delivered a solid performance with excellence while generating sustainable value for our shareholders that strengthen our position as one of the leading life insurance providers in Bangladesh.
Reflecting on 2023
The year 2023 has tested the agility of businesses across the world, and the insurance sector in Bangladesh has not been immune. Amidst inflationary pressures, fluctuating markets, and evolving regulatory frameworks, our company has remained committed to ensuring the financial protection and security of our policyholders. We have continued to adapt to market changes, driving innovation in our products and customer service, while maintaining operational efficiency. Despite these headwinds, I am pleased to report that Chartered Life Insurance Company has achieved steady growth in both policyholder numbers and premium income. We have been successful in expanding our footprint through both traditional channels and the digitization of our services, allowing us to reach new demographics and areas within Bangladesh.
I am also pleased to report that Chartered Life Insurance Company has delivered robust financial results in 2023. Our total premium income grew by 30%, driven by strong growth in both new business and renewals. We also delivered a 78% increase in surplus that reflecting prudent risk management and operational efficiency. The life fund is increased by 28% which indicates strengthening our policyholder’s protection
A Commitment to Innovation and Digital Transformation In 2023, we have deepened our investment in digital solutions to make life insurance more accessible and easier for our customers. By leveraging technology, we have enhanced the claims process, improved customer engagement, and launched new products that are tailored to the modern-day needs of individuals and families.
Our digital transformation strategy is a cornerstone of our long-term plan, and I am confident that this will allow us to better serve our policyholders while improving our operational capabilities. The shift towards digital platforms has not only improved customer experiences but also optimized our cost structure, creating sustainable value for our shareholders.
Corporate Governance and Sustainability
As always, our commitment to corporate governance remains unwavering. We are focused on maintaining the highest standards of accountability, transparency, and responsibility in all areas of our operations. In addition, we have prioritized sustainability and ethical practices, ensuring that we contribute positively to the communities we serve and align with global best practices in Environmental, Social, and Governance (ESG) standards.
The Road Ahead
Looking ahead to 2024 and beyond, we foresee continued opportunities for growth despite the challenges that remain. We will stay focused on innovation, expanding our reach, and deepening our customer relationships. Our aim is to continue building a trusted brand that offers security and peace of mind to millions of Bangladeshi families. Finally, I would like to extend my heartfelt gratitude to our policyholders, shareholders, and partners for their unwavering trust and support. I also wish to thank the management team and employees of Chartered Life Insurance Company for their dedication and commitment to our vision.
Together, we are confident in our ability to create a future of growth, stability, and continued success.
Thank you for your continued confidence in us.