Astha Life Insurance Company Limited has formally entered into a strategic group insurance partnership with the Bangladesh Institute of Labour Studies (BILS). The agreement was ratified during a formal signing ceremony held on Wednesday at the corporate headquarters of Astha Life, marking a significant step forward in providing robust financial security to the labour research community.
The contract was signed by Brigadier General Shah Sagirul Islam, ndc, afwc, psc (Retd), the Chief Executive Officer of Astha Life, and Syed Sultan Uddin Ahmed, the Executive Director of BILS. The ceremony was attended by senior executives from both organisations, who expressed their shared commitment to enhancing employee welfare through comprehensive risk management.
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Comprehensive Coverage for Employees
Under the terms of this new mandate, all officers and staff members of BILS will be integrated into Astha Life’s group insurance framework. This partnership ensures that employees are protected by a dual-layered safety net, encompassing both life and health insurance coverage. Such provisions are increasingly vital in the modern professional landscape, offering peace of mind and financial stability to workers and their families in the event of unforeseen medical emergencies or tragedies.
Institutional Pedigree
Astha Life holds a unique position within the Bangladeshi financial sector. Operated under the direct supervision of the Army Welfare Trust of the Bangladesh Army, it carries a reputation for discipline, transparency, and reliability. Although managed by military leadership, the firm remains a commercial life insurance entity open to the general public, aiming to redefine industry standards through trust-based service.
Agreement Overview and Signatories
| Feature | Details |
| Insurer | Astha Life Insurance Company Limited |
| Client Organisation | Bangladesh Institute of Labour Studies (BILS) |
| Primary Signatory (Insurer) | Brig Gen Shah Sagirul Islam (Retd) |
| Primary Signatory (Client) | Syed Sultan Uddin Ahmed |
| Coverage Scope | Life and Health Insurance |
| Beneficiaries | All BILS officers and employees |
| Management Parent | Army Welfare Trust (Bangladesh Army) |
Strengthening the Labour Sector
The Bangladesh Institute of Labour Studies (BILS) is the premier think-tank in the country dedicated to labour rights and industrial relations. By securing this insurance deal, BILS demonstrates a proactive approach to human resource management, aligning its internal practices with the very labour welfare standards it advocates for nationally.
For Astha Life, this deal signifies its growing footprint in the corporate sector. By leveraging its military-backed credibility, the company is successfully attracting major non-governmental and research institutions, positioning itself as a preferred insurer for organisations that prioritise institutional stability.