BRAC Bank recently signed an agreement with MetLife Bangladesh to offer its employees and dependents comprehensive life and medical insurance coverage.

More than 22,000 coworkers and dependents of the bank will be protected against medical expenses, accidents, disabilities, and loss of life through this partnership, according to a press release.

Selim RF Hussain, managing director and CEO of the bank, and Ala Ahmad, chief executive officer of the life insurer, penned the deal at the former's head office in Dhaka.

"With this agreement with MetLife Bangladesh, BRAC Bank continues to demonstrate its dedication to supporting the wellbeing of its people, ensuring they are protected both at work and in their personal lives," Hussain said.

"This partnership is part of our ongoing commitment to support organisations in creating a secure and resilient future for their employees," Ahmad said.

Insurance coverage for coworkers and dependents plays a critical role in fostering a sense of security and loyalty among the workforce.

Providing insurance protection mitigates the financial burden on people and their families in times of crisis and highlights an organisation's commitment to the wellbeing of its team.

BRAC Bank has selected MetLife as its insurance provider due to MetLife's consistent track record of claims settlement, customised solutions, and financial strength, which allows it to pay claims faster and without hassle, the press release added.

Established in 2001, BRAC Bank is one of the leading private commercial banks in Bangladesh with a strong focus on financing small and medium enterprises, along with offering a range of banking services for individuals and corporate clients.

MetLife, on the other hand, provides insurance protection to over 1 million individual customers and 900 organisations in Bangladesh and has settled claims of more than Tk 10,500 crore in the last six years.

Senior officials from both organisations were also present.