In line with the general practices, the underwriting business of Green Delta Insurance Company Ltd. covers fire insurance, marine insurance, motor insurance and miscellaneous business. It is our pleasure to report that in 2009 Green Delta Insurance Company Ltd. experienced another record year of growth in premium earnings. Gross premium income increased by BDT. 200.88 million compared to that of previous year registering a growth of 14.34%

In the year 2009 Gross premium income increased from fire insurance alone by 14.79% from BDT. 766.78 million in 2008 to BDT. 880.17 million in 2009. After ceding reinsurance of the BDT. 536.74 million, the net premium income from Fire insurance business stood at the BDT. 343.43 million which is 28.32% higher than  year 2008. In the year 2009 Gross premium income increased in Marine insurance business by 0.89% from BDT. 314.32 million in 2008 to BDT. 317.10 million in 2009. After ceding the reinsurance of BDT 77.57 million, the net premium stood at BDT. 239.53 million, which is (5.45)% lower than 2008.

The gross premium income from motor insurance business was increased by 21.38% from BDT. 75.61 million in 2008 to BDT. 91.77 million. In 2009, after ceding the reinsurance premium of BDT 4.11 million the net premium stood at BDT  87.67 million.

Gross premium income increased from Miscellaneous insurance business by 28.09% from BDT. 244.03 million in 2008 to BDT. 312.58 million in 2009 and after ceding the reinsurance premium of BDT. 256.53 million the net premium income from miscellaneous business stood at BDT. 56.05 million which is 66.32% higher than the previous year. Out of total premium earned, if the specific contribution by
each classes of business are looked, it is found that major contribution made by the fire insurance, followed by marine, miscellaneous and motor.

GDIC seeks to underwrite businesses with corporate ethics and strives to create a policyholders base with best possible risk management profile. Customer base is very selective and GDIC remains extremely choosy in partnering with clients. Every business that is underwritten by GDIC must meet strict underwriting guidelines of the company and be reevaluated annually upon renewal. GDIC maintains strong
commitments to effective handling of claims. The incurred net claim of GDIC remained almost stable at BDT 134.24 million in 2009 which was BDT 117.23 million in 2008 and BDT 117.04 million in 2007. This is 14.51% higher in 2009
than the one in 2008.

The net premium of all classes of business of GDIC reported significantly higher growth rate than that of industry over the period under analysis and stood at BDT 726.69 million in 2009 which helped GDIC to claim the leading position in the industry. The growth rate of net claim of GDIC has been
also very sound compared to the industry average growth rate of net claim.

Earning per Share (EPS) stood at BDT. 56.99 at the end of the year 2009 while it was BDT. 120.06 in the year 2008. Green Delta Insurance Company Ltd has got an available solvency margin of BDT 1400.11 million against the
requirement of BDT 198.79 million, which is BDT 1201.32 million higher than the requirement for the year 2009. There has been a growth of BDT 307.80 million which is 28.01% higher from the year 2008.

In order to ensure a long term growth and sustainable income GDIC believes in building up reserves and assets which are the most essential elements for any company’s operating  philosophy. In line with this, GDIC has built up a reserve
of BDT. 2094.79 million and our total assets stood at BDT. 3433.07million at the end of the year 2009. On December 31, 2009 the total reserve and assets of our company have increased by 28.91% and 19.52% respectively compared to
previous year. These figures indicate that every year we are becoming  fundamentally stronger and stronger.

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