UCB launches bancassurance services
United Commercial Bank PLC (UCB) has officially launched its bancassurance services, enabling customers to access life and general insurance directly at any UCB branch nationwide.
The bank inaugurated its bancassurance products on 20 November at a ceremony at Padma Hall, Pan Pacific Sonargaon Hotel, Dhaka. Distinguished guests included Mahbubur Rahman, Chairman of Eastland Insurance PLC; Md Muhibuzzaman, Additional Secretary and Managing Director of Jiban Bima Corporation; UCB Managing Director and CEO Mohammad Mamdudur Rashid; Eastland Insurance Managing Director and CEO Mohammed Selim; and UCB Additional Managing Director Adnan Masud, along with senior officials of the participating organisations.
Mahbubur Rahman said the collaboration between UCB, Jiban Bima Corporation and Eastland Insurance marks a significant milestone for Bangladesh's insurance sector, as it will make insurance products more accessible to customers.
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Md Muhibuzzaman said UCB had taken commendable steps to introduce bancassurance. With rising income levels, he said, the demand for insurance alongside banking services is increasing, and partnerships between banks and insurers would help build greater public trust and provide financial protection for families.
UCB Managing Director and CEO Mohammad Mamdudur Rashid said the new insurance services would help customers save for the future, secure their families financially, and support key expenses such as children's education and travel. He added that customers can now obtain both life and general insurance under a single platform at any UCB branch.
The ceremony also featured the symbolic handover of the First Premium Receipt (FPR) to two selected customers, marking the official commencement of sales operations.
