SKY RE Expands Presence in Insuring Bangladeshi Banking Sector


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SKY RE Facultative & Treaty Ltd.
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SKY RE Expands Presence in Insuring Bangladeshi Banking Sector

CHARLESTOWN, NEVIS, May 17, 2016
SKY RE Facultative and Treaty Ltd. (SKY RE) announced today that it has participated in the insurance program of AB Bank, Ltd. – Bangladesh’s first private sector bank.

Founded in 1981 and commencing operations in 1982, AB Bank states on its website that, “With an ambition to secure its place as the leading service provider, creating lasting value for its clientele, shareholder, and employees and particularly for the community it operates in, AB has formulated a golden heritage and an envious legacy that may not be imitated by many. Achieving plenty of milestones and incorporating numerous changes over the last 34 years, AB has always been authentic to its desire of being the technology driven innovative bank of Bangladesh. To excel this new era of technological triumph, AB has successfully introduced internet banking, SMS banking, cutting edge ICT, state-of-art network solution, 24/7 ATM service and many other e-products.” It goes on to state that, “Trust and integrity have been the key value components when meeting the expectations of every stakeholder. As such, AB Bank has molded an exceptionally talented team of employees helping them reach their optimum potential. Precisely understanding the needs of customers, the bank has provided new and imaginative schemes that has altogether redefined convenience in financial services and revolutionized the nature of banking in Bangladesh.”

In addition to 100 branches and over 260 ATMs in Bangladesh, it also has a branch in Mumbai, India and representative offices in London, UK and Yangon, Myanmar.

AB Bank
AB Bank logo

Chief Executive Officer Comments on Transaction

Leticia Nisbett–Dore, the Chief Executive Officer noted that, “This is the second Bangladeshi bank in which we have a role in their risk management program. We are pleased to have a larger presence in a sector that is vital to growing the Bangladeshi economy.” She also stated that, “We also hope that our increased presence in this sector allows us to further grow with not just the Bangladeshi economy, but also with the economies of other developing nations that, like us, have dedicated themselves to growing and improving the quality of life of their citizens.”

Unison Insurance Broking Services Pvt. Ltd. which brokered the transaction is one of the major independent, privately owned direct and reinsurance broker operating out of Republic of India.

SKY RE appreciates the trust of both AB Bank Ltd and Unison Insurance Broking Services Pvt. Ltd.

About SKY RE Facultative and Treaty Ltd.

SKY RE Facultative and Treaty Ltd (www.sky.re) is an internationally oriented Reinsurer with the policies backed by the exceptional financial strength and solid claims-paying ability of our capital providers. With a global presence, our team collaborates to deliver exceptional service to our clients across the world. Our broad reinsurance underwriting capabilities include property, catastrophe, casualty, professional lines, and specialty lines including trade credit, surety, global weather, aviation and space, marine and energy, agriculture and personal accident.

Media Contact:

Marc Estrella, CPCU, CIDM
Marketing Communications
SKY RE Facultative and Treaty Ltd.
1-619-632-4706
marc.estrella@sky.re