Pune: Bajaj Allianz Life Insurance Company Ltd., one of India’s leading private life-insurers, has signed a Corporate Agency agreement with NKGSB Co-operative Bank Ltd, headquartered at Mumbai. The tie-up comes at a time when NKGSB Bank has completed 100 years of service in banking.
As part of the three years agreement, NKGSB Bank will distribute all products of Bajaj Allianz Life Insurance, ranging from unit-linked life insurance plans, protection and saving plans to endowment and pension plans to the bank’s strong base of more than 6 lacs customers. Currently, the Bank has a network of 106 branches spread across the states of Maharashtra, Goa, Karnataka, Gujarat and Madhya Pradesh.
The agreement between Bajaj Allianz Life Insurance and NKGSB Co-operative Bank, was signed at the Bank’s Head office in Mumbai in the presence of Mr. Chintamani Nadkarni, Managing Director and Mr. P.G Kamath, Deputy Managing Director of NKGSB Co-operative Bank, and other senior officials from Bajaj Allianz Life Insurance.
Commenting on the partnership, Mr. Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance said, “We are delighted to have NKGSB Bank as our Corporate Agent partner as it will enable us to leverage the Bank’s large customer base and distribution network in Maharashtra, Goa, Karnataka, Gujarat & Madhya Pradesh. Through this tie-up, we intend to make our need-based insurance solutions available to more and more people residing in these regions to help them fulfil their financial goals”.
Speaking on the occasion, Mr. Kishore Kulkarni, Chairman, NKGSB Bank said, “We are excited to join hands with Bajaj Allianz Life Insurance, as this partnership will address the protection and wealth creation needs of our customers by providing insurance solutions for their various life goals.”
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