Sena Insurance PLC and BRAC signed an agreement on Thursday to jointly launch a fire insurance scheme.
Shafique Shamim, Sena Insurance managing director, and Arinjoy Dhar, BRAC microfinance鈥檚 senior director, signed the agreement on behalf of their organisations.
This partnership aims to improve financial security and stability for marginalised people.
The agreement introduced several insurance products for BRAC鈥檚 micro-loan holders, allowing coverage for direct damage to insured properties caused by fire and lightning, as well as financial losses resulting from such incidents.
Through this agreement, Sena Insurance will ensure compensation for the insured, while BRAC will support financial stability for its micro-loan recipients, as stated in a press release.
The insurance scheme is expected to create a strong safety net for the marginalised population and help enhance their quality of life, the release added.
Sena Insurance PLC, a subsidiary of Sena Kalyan Sangstha, has been operating as a general insurance provider for 11 years.
Major General Md Habibullah, chairman of Sena Insurance, along with other dignitaries, attended the signing ceremony.
