India
AU Small Finance Bank Partners Star Health and Bajaj Allianz Life Insurance. Economic Times, September 12, 2023.
The small finance bank will distribute the insurance products of the two providers through its network of 1,038 touchpoints. The bank has a customer base of 41 lakh.
India
Saraswat Cooperative Bank to sell LIC products under bancassurance tie-up. The Hindu, August 25, 2023.
Life Insurance Corporation of India (LIC) and Mumbai-headquartered Saraswat Cooperative Bank have entered a partnership under which the bank will sell the insurance major’s products. Saraswat Cooperative Bank has a network comprising 294 branches across six states.
India
Insurer Star Health announces alliance with Standard Chartered Bank. Business Standard, August 8, 2023.
Star Health and Allied Insurance will have a strategic alliance with Standard Chartered Bank to offer products through the lender’s branches in India. Standard Chartered Bank has over 100 branches in 42 cities.
India
Future Generali India Life Insurance enters strategic alliance with JM Financial Services. Economic Times, July 27, 2023.
As part of this partnership, Future Generali Indian Life Insurance will gain access to JM Financial Services’ extensive network and well-established distribution channels. This will enable Future Generali India Life to reach a larger customer base.
India
Max Life, DCB Bank join hands to offer insurance products. Business Line, July 11, 2023.
Max Life Insurance has partnered with DCB Bank to provide a variety of life insurance products to the latter’s customers. Term, savings, and retirement plans will be offered to DCB Bank customers.
Malaysia
Celebrating a Decade of Success: Manulife Malaysia and Alliance Bank Renew another 15-Year Exclusive Bancassurance Partnership. Press release, August 2, 2023.
Alliance Bank Malaysia Berhad (Alliance Bank) and Manulife Insurance Berhad (Manulife Malaysia) have extended their exclusive bancassurance partnership for an additional 15 years. Over the next 15 years, Alliance Bank will continue to distribute Manulife Malaysia’s life insurance products, enabling the bank to drive growth for its fee-based income.