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Allahabad Bank, SBI Life Insurance in bancassurance pact

Allahabad Bank has tied up with SBI Life Insurance to sell the latter’s insurance policies at some 3200 branches of the bank. SBI Life said in a statement the 2 entities signed a bancassurance agreement to offer a holistic financial planning solution to consumers. The tie-up, one of the largest Bancassurance partnerships in the country, will see 3238 branches of Allahabad Bank across the country offer SBI Life’s range of protection, wealth creation and savings products to its customers, it added. The agreement was signed in the presence of Allahabad Bank MD and CEO Mallikarjuna Rao and SBI Life MD & CEO Sanjeev Nautiyal.

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