Shanta Life Insurance opens its doors

“The company is set to drive financial security and peace of mind by launching simplified insurance products, designed to address the varied needs of individuals,” Shanta Holdings says

Shanta Life Insurance PLC has officially commenced its operations.

The new venture under Shanta Holdings launched on Sunday at the head office at Shanta Western Tower.

“The company is set to drive financial security and peace of mind by launching simplified insurance products, designed to address the varied needs of individuals across Bangladesh,” Shanta Holdings said in a press release.

“Given Shanta’s legacy of trust and quality in all its businesses, the group plans to ensure the same values in the life insurance sector which is currently riddled with issues of transparency and policyholders’ trust.”

The insurance company currently offers a child educational plan, a depositor’s protection scheme, an endowment plan, a 3 payment plan (3pp), and group life insurance.

“In Bangladesh, the life insurance sector has the potential to be a transformative force for the financial security and economic resilience of the masses,” said Nafis A Ahmed, CEO of Shanta Life Insurance.

“Currently, insurance penetration in Bangladesh remains as low as 0.4%, which signifies a lack of financial security coverage through insurance. At Shanta Life, we believe all the citizens of Bangladesh have the right to come under financial inclusion with better financial security in life. We see a unique opportunity to bridge this gap by offering simplified and affordable solutions that meet the diverse needs of people across all regions of the country.”

Shanta Life Insurance directors Saif Khondoker, Arif Khan, Raiven Hasan, and Anisul Haque attended the event. The company’s other directors and senior officials were also present.