Chairman’s Statement

On behalf of the Board of Director’s of Cell Insurance Company (Private) Limited, I am pleased to announce
the Group’s operating results for the year ended 31 December 2017.
Operating Environment
The economic environment continued to be dominated by company closures, persistent cash shortages which
ultimately resulted in the general price increases for basic commodities and other consumables. It must be
noted, however, that the good 2016/2017 agricultural season had a positive impact and managed stabilise the
economy resulting in the economic growth being revised from 1.7% to 3.7%. Despite the economic hardships,
the Group managed to find opportunities that resulted in revenue and profit growth.
Corporate Social Responsibility
The Group exhibited its potential as a good corporate citizen by ploughing back into the society. A number of
CSR projects were embarked on by the Group during the reporting period.

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