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Wednesday, October 7, 2015

Bajaj Allianz Life ties-up with Dhanlaxmi Bank for distribution of products

Bajaj Allianz Life Insurance and Dhanlaxmi Bank have signed long-term agreement for a bancassurance partnership. As part of the agreement, the bank will continue to be a Corporate Agent for nine years and sell life insurance products of Bajaj Allianz Life Insurance.

Dhanlaxmi Bank has been a partner of Bajaj Allianz Life Insurance since 2009 and has done business worth nearly Rs. 400 crore. The relationship between Bajaj Allianz Life Insurance and Dhanlaxmi Bank started off with customised insurance solutions for the bank's customers.

Bajaj Allianz Life Insurance is a joint venture between Allianz SE, the world's leading insurer, and Bajaj Finserv Limited.

Dhanlaxmi bank is present through 678 touch points across Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi and West Bengal. All the life insurance products of Bajaj Allianz Life Insurance will be made available for the customers of Dhanlaxmi Bank and they will have the option to choose from the bouquet of different insurance solutions provided by Bajaj Allianz Life Insurance.

"Dhanlaxmi Bank has been one of our valued partners for nearly six years now and we aim to continue the strong relationship going forward. This partnership will help us leverage the existing synergies of the bank partner and its wide reach across the regions they operate in," said Anuj Agarwal, Managing Director & CEO, Bajaj Allianz Life Insurance.

"The 88 year long tradition of Dhanlaxmi Bank, equipped with modern technological capabilities, embellished with quality products of Bajaj Allianz Life Insurance, is set to form a strong partnership extending smart choice of investments to the customers," said G. Sreeram, Managing Director & CEO, Dhanalaxmi Bank.

Source : Economic Times


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