A landmark Memorandum of Understanding (MoU) has been signed between Chartered Life Insurance PLC, a leading life insurance company in the country, and Hero Bangladesh (HMCL Niloy Bangladesh Ltd.), a globally renowned motorcycle brand.

Under this agreement, buyers of every Hero motorcycle sold in Bangladesh will now receive special insurance coverage benefits from Chartered Life Insurance.

The agreement was signed at a grand ceremony by Mr. Bijoy Kumar Mondal, FCA, CFO and Company Secretary of HMCL Niloy Bangladesh Ltd., and Mr. Mohammad Emdad Ullah, Acting CEO of Chartered Life Insurance PLC, on behalf of their respective organizations.

The main objective of this joint initiative is to make motorcycle riders’ journeys safer and to ensure reliable financial protection at the time of purchase. Such collaboration between the automobile and insurance sectors in Bangladesh is being seen as a unique example.

Speaking on the occasion, Mr. Md. Sharif Hasan, FCS, Director of Chartered Life Insurance, said that insurance coverage cannot bring back lost lives, but it can help ensure that families do not suffer financial hardship in the event of a rider’s accidental death or injury. He added that while accidents are never desired, preparedness for potential risks is essential, and the company is working continuously to ensure both mental and financial security for customers.

Acting CEO of Chartered Life Insurance, Mr. Mohammad Emdad Ullah, said that the company is working tirelessly to bring insurance services closer to people and reduce life risks. He added that this partnership with Hero Bangladesh will open a new horizon in addressing riders’ unforeseen risks.

On behalf of Hero Bangladesh, Mr. Bijoy Kumar Mondal said that this initiative is driven by social responsibility to ensure that no family faces financial devastation due to accidents. He added that especially ahead of the upcoming Qurbani Eid, providing insurance coverage with every motorcycle will help protect customers’ lives and families.

Senior officials from both organizations were present at the event. It is expected that this initiative will increase insurance awareness in the country and provide customers with affordable and quality insurance services.