BRAC Bank to sell Green Delta’s insurance products

BRAC Bank recently signed a three-year bancassurance agreement with Green Delta Insurance Company Ltd, enabling the bank's customers to purchase a range of non-life insurance products of the insurer directly through the lender.

Selim RF Hussain, managing director and CEO of the bank, and Farzanah Chowdhury, managing director and CEO of the insurer, inked the deal at the latter's head office in Dhaka, the bank said in a press release.

Under this agreement, customers can access products like health insurance, motor insurance, crop insurance and travel insurance across the bank's extensive network.

"This bancassurance collaboration is not just a business venture; it is a commitment to the economic empowerment of our people. By integrating banking with insurance, we are revolutionising Bangladesh's financial landscape and fortifying our nation's journey towards a Smart Bangladesh," Hussain said.

"This partnership will not only help us cater to the needs of Bangladeshi people in a more inclusive manner by bundling insurance with banking products, but also assist in making insurance more available to people through the vast distribution network of the banking sector," Chowdhury said.

Among others, Nasir Ahmed Choudhury, adviser and founding managing director of the insurer, Syed Moinuddin Ahmed, additional managing director, Syed Abdul Momen, deputy managing director and head of SME banking at the bank, Mahiul Islam, deputy managing director and head of retail banking, and Wafi Shafique Menhaz Khan, managing director and CEO of Green Delta Securities Ltd, were also present.