Shamrao Vithal Bank ‘inks pact’ with Bajaj Allianz Life Insurance
The Shamrao Vithal Co-operative Bank Ltd., one amongst the first 3 leading urban co-operative banks in the country has partnered with Bajaj Allianz Life Insurance, one the leading private life insurance companies.
Both partners expect that the association would provide basic life insurance products to lender's extensive customer base, spread across the country.
It should be noted that Shamrao Vithal Co-operative Bank has a strong presence in the country through its network of 80 branches. The lender has various branches across 6 states, namely, Maharashtra, Karnataka, Goa, Delhi, Gujarat and Tamil Nadu.
Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between two leading conglomerates- Allianz AG, one of the world's largest insurance companies, and Bajaj Auto, one of the biggest two and three wheeler manufacturers in the world.
The insurance firm possesses the strongest distribution network in the country with its 1200 owned branches across more than 950 towns and rapidly extending Bancassurance partnerships.