Midland Bank expands services through bancassurance partnership
Midland Bank PLC and Desh General Insurance Company Limited have cemented a strategic bancassurance partnership, marking a pivotal advancement in integrated financial solutions for Bangladesh's banking sector.
The alliance seeks to expand insurance access and raise customer service standards nationwide.
The agreement to launch the service was signed on 3 October 2024, under the joint auspices of Bangladesh Bank and the Insurance Development and Regulatory Authority of Bangladesh (IDRA).
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The ceremony took place at Midland Bank's head office in Gulshan, attended by Imtiaz Uddin Ahmed, Managing Director & CEO of Midland Bank, and Mohammodi Khanam, CEO of Desh General Insurance Company, alongside senior officials from both organisations.
Other attendees included key senior executives from Midland Bank and Desh General Insurance Company.
Through the partnership, customers may now obtain Desh General Insurance products and services at every Midland Bank branch.
The offering includes IDRA-approved insurance products—such as motor, travel, health, agriculture, and crop insurance. Motor insurance is now available, with further products to launch in phases.
Organisers stated that this initiative makes insurance easier to access, enabling customers to secure both banking and insurance services on one platform—improving financial protection.
Speakers highlighted that the partnership is designed to help customers gain broader, easier access to financial tools, making it simpler to protect themselves and their assets while handling routine banking and insurance needs in one place.
They emphasised that, under the joint initiative of Bangladesh Bank and IDRA, bancassurance is expanding, empowering customers to secure insurance directly through banks—a move expected to increase trust in insurance usage and claims.
