City Bank, in partnership with Guardian Life Insurance Limited, has achieved a major milestone by selling 5,000 insurance policies through its bancassurance channel, says a press release.
This achievement makes City Bank the leading bancassurance partner in terms of policies sold within a short period.
The milestone reflects the strong market acceptance of Guardian鈥檚 products 鈥� including Guardian Child Protection Plan, Guardian 4 Stage Plan, Guardian Sanchoy, Guardian Pension Plan, and Guardian Probridhi 鈥� which City Bank has been actively offering to its customers.聽
As the first bank to issue a Guardian Life bancassurance policy in Bangladesh, City Bank has played a pioneering role in expanding customer access to insurance solutions. The rapid success demonstrates both the trust customers place in Guardian鈥檚 innovative, customer-centric products and City Bank鈥檚 commitment to delivering comprehensive financial solutions.
Sheikh Rakibul Karim, FCA Additional Managing Director and Acting CEO of Guardian Life, said, 鈥楥ity Bank promised us innovation from day one, and this milestone proves their commitment. I believe that through City Bank, we will be able to further expand our services, and I sincerely thank City Bank for this achievement.鈥�
Since the launch of bancassurance in March 2024, Guardian Life has led the industry with 79 per cent of total bancassurance sales by the end of that year. With City Bank鈥檚 strong partnership, Guardian continues to strengthen its leadership in bancassurance, InsurTech, and micro-insurance, ensuring inclusive, technology-driven protection for millions of Bangladeshis.
