Group Term Life and Medical Insurance for Country Based Staff of British High Commission (BHC) in Bangladesh

FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE

There is 1 contract in this contracting process.

Summary of the contracting process

The procurement process managed by the Foreign Commonwealth and Development Office of the UK, based at King Charles Street, London, recently concluded with the awarding of a contract for providing Group Term Life and Medical Insurance services. The successful bid was submitted by American Life Insurance Company. This contract, which falls under the Health Insurance Services category (CPV code 66512200), covers the insurance needs of the British High Commission's country-based staff in Bangladesh. It began on May 1, 2025, and will run until April 30, 2026, with the potential for extension up to April 30, 2028, subject to satisfactory performance. The procurement used an open procedure method, and the total contract value is £645,696. This award stage was finalised on April 30, 2025.

This contract presents substantial opportunities for businesses involved in providing health insurance services, especially those looking to expand their operations internationally. Since the procurement process was open, it encourages participation from a diverse range of suppliers, including small and medium enterprises (SMEs). The possibility of contract extension offers added incentives for long-term growth and revenue prospects. Companies that are adept at delivering comprehensive insurance services, particularly those with experience in the public sector or international markets, would be well-suited to engage with similar opportunities in the future.

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Group Term Life and Medical Insurance for Country Based Staff of British High Commission (BHC) in Bangladesh

FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE

Contract Timeline

Publication Date

28th May 2025 06:23:22 AM
Contract Summary

This contract has been awarded to American life Insurance Company for delivering the Group Term Life and Medical Insurance for Country Based Staff of British High Commission (BHC) in Bangladesh. The contract period starts from 01st May 2025 till 30th of April 2026 with a further provision for extension of the contract for two more years ( till 30th of April 2028 on 1+1+1 basis) based on satisfactory performance and continued business requirement.
Contract Details

Open Contracting ID

ocds-b5fd17-214e373e-52e4-4891-a7e9-c8962c9975c9

Publication Source

Contracts Finder

Procurement Stage

Award

Procurement Method

Open

Procurement Method Details

Open Procedure (above Threshold)

Procurement Category

Services

Tender Suitability

SME VCSE

Framework / DPS
Contract Classification

CPV Code(s)

66512200

CPV Division(s)

66 - Financial and insurance services
Awarding Authority

FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE

Buyer Name

Bidisha Chaliha

Buyer Email

bidisha.chaliha@fco.gov.uk

Buyer Phone

Buyer Address

King Charles Street

London

SW1A 2AH

England
Awarded Supplier(s)

Supplier Name(s)

AMERICAN LIFE INSURANCE COMPANY

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Group Term Life and Medical Insurance for Country Based Staff of British High Commission (BHC) in Bangladesh

FOREIGN COMMONWEALTH AND DEVELOPMENT OFFICE

Contract Timeline

Contract Summary

Contract Details

Contract Classification

Awarding Authority

Awarded Supplier(s)