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Dhanlaxmi Bank, Bajaj Allianz renew tie-up

Dhanlaxmi Bank and Bajaj Allianz Life Insurance have their bancassurance agreement under which the bank will continue to be corporate agent for the insurance company for nine years and sell its life insurance products. The bank has been a partner of Bajaj Allianz Life Insurance since 2009 and has done business worth nearly Rs 400 crore. Under the new agreement, all the life insurance products of Bajaj Allianz Life Insurance will be made available for the customers of the bank. Under new regulations, banks have the freedom to sell insurance policies of multiple companies by positioning themselves as intermediaries and need not be corporate agents, but Dhanlaxmi Bank has chosen to stick with Bajaj Allianz Life. G. Sreeram, M & CEO of the bank, said the tie up is aimed at turning the bank into a one-stop financial services provider.

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