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Deutsche, HDFC Ergo in tie-up

Deutshe Bank and HDFC Ergo General Insurance Company have entered into a distribution agreement under whcih the bank will distribute HDFC Ergo’s non-life insurance products through its 17 branches spread across 16 Indian cities. HDFC Ergo will offer a bouquet of products related to motor, travel, commercial, home, personal accident and critical illness to Deutsche Bank customers. Deutsche Bank said the bank has a very big payroll customer base and a very big business banking customer base in the country and it will be focusing on motor insurance for the salaried class customers under the tie-up and will try to sell other non-life products through business banking. The bank is also looking at underwriting premium to the tune of Rs 8 crore per annum. The bank has a distribution tie-up with private sector life insurer Birla Sun Life.

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