Shanta Life Insurance begins its journey
Shanta Life Insurance PLC, a new venture under the renowned corporate house Shanta Holdings, proudly announced the official commencement of its operations on 1st December 2024 at the insurer's 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. 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 transparency and policyholders' trust issues.
Shanta Life's current product offerings comprise a Child Educational Plan, Depositor's Protection Scheme, Endowment Plan, Three-Payment Plan (3PP), and Group Life Insurance.
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"In Bangladesh, the life insurance sector has the potential to be a transformative force for the financial security and economic resilience of the masses. 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 and have better financial security. 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", says Nafis A Ahmed, Chief Executive Officer of Shanta Life Insurance.
Shanta Life Insurance's directors, Saif Khondoker, Arif Khan, Raiven Hasan, Anisul Haque, and its CEO, Nafis A Ahmed, graced the launching event. Other directors and high company officials were also present.
