Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
21 March, 2018 12:11 IST
Aviva joins hands with Bank of Maharashtra for Bancassurance biz
Source: IRIS | 10 Jan, 2018, 03.19PM
Comments  |  Post Comment

Bank of Maharashtra (BoM) a prominent bank in the state of Maharashtra and Aviva Life Insurance today announced that they have entered into a Corporate Agency arrangement for distribution of Life Insurance products. With this tie-up, the Bank through its 1,863 branches will be able to distribute Aviva Life Insurance products across the country.

Under the Open Architecture system, a bank can sell insurance products of multiple insurers in the same category. This ensures that consumers are given multiple choices, and they can buy a product which suits their needs the best.

R.P. Marathe, MD & CEO Bank of Maharashtra (Q,N,C,F)* said, ''Since inception in 1935, Bank of Maharashtra has built a strong network which has strived for offering comprehensive financial solutions to support wealth creation for its consumers. As per industry reports Insurance penetration in India is merely around 3.42 percent 1 as compared to global average of 6.2 percent. With our association with Aviva, we are delighted to offer superlative products to our customers and are committed in reaching out to the large section of insurable but untapped population in the Tier II and III cities, in the country.''

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Ashok Leyland bags orders for 2100 Buses from Institute of Road Transport, Tamil Nadu - 21-Mar-2018 10:17
Suzlon designs and produces India's longest wind turbine blade of 63 meters - 21-Mar-2018 10:11
Non-banks to drive MSME credit growth; asset quality a key monitorable: ICRA - 21-Mar-2018 10:06
Mphasis partners with Plug and Play - 21-Mar-2018 09:55
Force Motors signs JV agreement with MTU Friedrichshafen GmbH - 21-Mar-2018 09:48
TCS partners with Saudi Real Estate Refinance Company - 21-Mar-2018 09:44
GE Power India bags contract worth Rs 3.09 bn - 21-Mar-2018 09:40
Alembic Pharm intimates of USFDA inspection of facility at Panelav - 21-Mar-2018 09:37
Mahindra & Mahindra partners with Standard Chartered - 20-Mar-2018 12:36
Larsen & Toubro Infotech partners with Accudyne Industries - 20-Mar-2018 11:09
RBI increases FPI's investment limit for Future Retail to 49% - 20-Mar-2018 10:18
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer