BRAC Bank & MetLife team to offer Bancassurance in Bangladesh

By Gloria Mathias

BRAC Bank and MetLife have announced a collaboration to provide bancassurance. This service will provide BRAC Bank customers access to MetLife’s extensive life insurance options.

This approach strives to make insurance more accessible to people across Bangladesh. When the Bancassurance channel formally opens, a wide range of MetLife’s products will be available through BRAC Bank’s extensive network, including the bank’s branches, sub-branches, and SME Units.

The partnership announcement ceremony was recently held in the presence of BRAC Bank’s Chairperson, Meheriar M. Hasan, and MetLife Bangladesh CEO, Ala Ahmad.

Expressing gratitude towards Bangladesh Bank and IDRA for their support in materialising Bancassurance in Bangladesh, BRAC Bank Chairperson Meheriar M. Hasan highlighted the significance of this partnership, “Today marks a historic moment as MetLife Bangladesh and BRAC Bank unite in a groundbreaking Bancassurance partnership. This alliance symbolises our shared vision for financial inclusivity and sets a new precedent in Bangladesh’s financial sector.”

“By combining banking and insurance services, we aim to revolutionise accessibility and reliability in financial services, significantly contributing to the journey towards a more financially inclusive and resilient Bangladesh,” he said. “We are grateful to MetLife Bangladesh for joining us on this extraordinary journey, demonstrating that when two greats join forces, they have the power to move mountains!”

MetLife Bangladesh CEO Ala Ahmad shared, “The main objective of Bancassurance is to increase insurance accessibility. The partnership between MetLife and BRAC Bank, two trusted financial institutions, demonstrates a strategic fit aimed at expanding the reach of insurance among the people of Bangladesh. This significant collaboration supports the country’s drive to strengthen financial empowerment, allowing customers to confidently incorporate MetLife’s world-class insurance protection in their financial planning.”

This strategic collaboration between two of Bangladesh’s brands in banking and insurance is expected to enhance the financial services landscape significantly, offering customers integrated solutions for their banking and insurance needs.