VIJAYA BANK, the Bangalore based Public Sector Bank and United India Insurance Co. Ltd, and Life
Insurance Corporation of India Ltd., both major Public Sector organizations
conducted Bancassurance function to-day for the distribution of the general
insurance products of United India Insurance Co. Ltd., and
for the distribution of life products with LIC of India, under Corporate Agency
Arrangement. At a function held on the
same day at the Head Office of Vijaya Bank, Bangalore, the General Managers of Vijaya
Bank and United India Insurance Co. Ltd exchanged MOUs to formalise the
Corporate Agency Agreement.
Speaking on
the occasion, the Chairman & Managing Director of Vijaya Bank, Sri H.S.
Upendra Kamath said that the
Bancassurance products of both United India Insurance Co. Ltd and Life
Insurance Corporation of India offers immense scope for value addition to the
customers as well as opportunities
for the optimum use of bank's existing infrastructure, apart from
providing additional
revenue. With more than eight million customers spread across several
segments and with a pan India presence of
over 1200 CBS networked
branches, Bank will have considerable scope for catering to all types of
life and general insurance requirements
of its customers through the
quality products of United India
Insurance Co. Ltd., and LIC of India
both of whom are the biggest and
most reputed Public Sector organizations in general insurance and life
insurance sectors respectively, he added.
The grand
function was attended by Ms.
Shubhalakshmi Panse, Executive Director, Vijaya Bank, , Sri B. Krishnamurthy, General Manager
Bancassurance, United India Insurance Co. Ltd, Sri R.J. Rajaraman, National
Relationship Manager of LIC of India,
General Managers and executives from both the organizations, in addition
to a large number of well wishers.
