Eastern Bank to sell MetLife’s insurance products

Eastern Bank has signed a Bancassurance agreement with MetLife, a leading private life insurance company of the country, enabling the bank to sell the insurer's insurance solutions to its retail customers.
Bancassurance is a partnership between a bank and an insurance company whereby the bank sells insurance products through its distribution channels.
Ali Reza Iftekhar, managing director and CEO of the bank, and Muhammad Ala Uddin Ahmad, chief executive officer of the life insurer, have inked the deal at The Westin Dhaka in the city today, said a press release.
"This agreement would play a substantial role in creating awareness about insurance and positively contribute to the overall economic development of the country," said Iftekhar.
Ahmed Shaheen, additional managing director of the bank, and Md Jafar Sadeque Chowdhury, additional managing director and chief distribution officer of the life insurer, were present.
Among others, M Khorshed Anowar, deputy managing director and head of retail and SME banking, Syed Zulkar Nayen, head of business (retail and SME banking), Md Khairul Hassan, manager of bancassurance and student banking, and Nafis Akhter Ahmed, deputy managing director and chief of corporate business, and Muhammad Asif Shams, senior executive vice-president and head of bancassurance, were also present.