Ageas Federal Life Insurance Partners with NKGSB Co-op Bank
Dec 19, 2023 18:48
Ageas Federal Life Insurance expands its distribution network through a partnership with NKGSB Co-operative Bank, offering insurance products through Bancassurance.
Photograph: Uttam Ghosh/Rediff.com
New Delhi, Dec 19 (PTI) Ageas Federal Life Insurance on Tuesday announced a partnership with NKGSB Co-operative Bank to expand its distribution network.
NKGSB Co-operative Bank has 104 branches spread over Maharashtra, Goa, Karnataka, Gujarat and Madhya Pradesh.
"NKGSB Co-operative Bank, known for its strong customer base and extensive network, adds a valuable dimension to Ageas Federal Life Insurance's distribution strategy," Vighnesh Shahane, Managing Director and Chief Executive Officer at Ageas Federal Life Insurance, said in a statement.
The partnership with NKGSB Co-operative Bank focuses on Bancassurance to promote and sell insurance products, the insurer said.
"Teaming up with Ageas Federal Life Insurance allows us to offer a broader range of financial products and services...," Himangi Nadkarni, Chairperson at NKGSB Co-operative Bank, said.
Ageas Federal Life Insurance declared a net profit of Rs 114 crore in fiscal 2022-23, a growth of 21 per cent from the previous financial year.
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