RBL Bank and ICICI Prudential have joined palms below a bancassurance partnership. 398 RBL Bank branches throughout 28 states will distribute ICICI Prudential Life’s safety and financial savings merchandise. The safety merchandise of ICICI Prudential Life will assist the financial institution’s clients to develop a robust monetary plan and its long-term financial savings merchandise will assist the purchasers of the financial institution to realize their monetary targets.
About the Partnership:
- This partnership will enable greater than 8.7 million clients of RBL Bank to entry and buy ICICI Prudential Life’s customer-centric safety and long-term financial savings merchandise.
- It supplies monetary safety to the purchasers and their households by life insurance coverage cowl.
- It will deepen and strengthen the multi-channel distribution community of ICICI Prudential Life.
- It can even speed up the worth creation for the financial institution and ICICI Prudential Life.
What is Bancassurance?
Bancassurance means promoting insurance coverage merchandise by banks. It is an association between a financial institution and an insurance coverage firm, whereby the financial institution sells the tied insurance coverage firm’s insurance coverage merchandise to its shoppers.
Important takeaways for all aggressive exams:
- RBL Bank Ltd Incorporated: 1943, below the Indian Companies Act, 1913
- RBL Bank Ltd MD and CEO: Vishwavir Ahuja.
- RBL Bank Ltd Headquarters: Mumbai, Maharashtra.
- RBL Bank Ltd Tagline: Apno Ka Bank.
- The financial institution’s identify was modified from ‘The Ratnakar Bank Limited’ to ‘RBL Bank Limited’ in August 2014.
- ICICI Prudential Life Insurance Ltd Commenced Operations: 2001.
- ICICI Prudential Life Insurance Ltd HeadOffice: Mumbai, Maharashtra.
- ICICI Prudential Life Insurance Ltd MD & CEO: N S Kannan.
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