Thiruvananthapuram: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, has renewed the Corporate Agency agreement with Dhanlaxmi Bank, one of the oldest private sector banks in India.
The agreement was signed by Ramchandra Pandit, Head – Bancassurance, Bajaj Allianz Life Insurance, and Manikandan. P, Chief General Manager, Dhanlaxmi Bank at the bank’s office located at Guruvayur.
Under the pact, Dhanlaxmi Bank will continue to sell life insurance products of Bajaj Allianz Life Insurance. In 2009, Dhanlaxmi Bank started selling customised insurance solutions provided by Bajaj Allianz Life Insurance to its customers. As a corporate agent partner, Dhanlaxmi Bank has done a business of Rs 365 Crore till date for Bajaj Allianz Life Insurance, said a press release.
The Bank has more than 644 touch points across 15 Indian States. Commenting on the pact, Tarun Chugh, MD and CEO, Bajaj Allianz Life Insurance, said, “Dhanlaxmi Bank has been one of our valued partners for nearly a decade. The association has been advantageous for both the partners. We intend to continue the strong partner relationship and expand our customer reach through the bank’s wide network.”
Meanwhile, G. Sreeram, MD and CEO, Dhanlaxmi Bank, said that the bank’s association with Bajaj Allianz Life Insurance had enabled them to provide need-based investment and protection solutions to their customers.