New Partnership to offer a full range of Life Insurance Solutions backed by leading technology and customer service across all branches and channels
Mumbai, October 12, 2015: IndusInd Bank and Tata AIA Life Insurance Company Limited (Tata AIA Life) today announced that they have entered into a Corporate Agency agreement under which IndusInd Bank will distribute Tata AIA Life products across its branches and channels.
The partners will collaborate to provide a wide range of solutions to address protection, savings and wealth creation needs of IndusInd Bank’s customers. Having received the required regulatory approvals, Tata AIA Life products will be available at IndusInd Bank branches immediately.
About IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on September 30, 2015, IndusInd Bank has 854 branches, and 1578 ATMs spread across 544 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013 was included in the NIFTY 50 benchmark index. Recently, IndusInd Bank ranked 13th amongst the Top 50 Most Valuable Indian Brands 2015 as per the BrandZ Top 50 rankings powered by WPP and Millward Brown.
About Tata AIA Life
Tata AIA Life Insurance Company Limited (Tata AIA Life) is a joint venture company, formed by Tata Sons Ltd. and AIA Group Ltd. (AIA). Tata AIA Life combines Tata’s pre-eminent leadership position in India and AIA’s presence as the largest, independent listed pan-Asian life insurance group in the world spanning 18 markets in Asia Pacific. Tata Sons holds a majority stake (74 per cent) in the company and AIA holds 26 per cent through AIA International Limited. Tata AIA Life Insurance Company Limited was licensed to operate in India on February 12, 2001 and started operations on April 1, 2001.
Tata AIA Life offers a wide variety of life insurance solutions that cover Protection, Savings and Wealth Creation needs for its customers. For the financial year ended March 2015, the Company recorded Total Premium of Rs. 2,122 Cr. and Profits after Taxes of Rs. 264 Cr. Thirteenth month persistency touched 76%, while claims settlement ratio reached 94%.
- Tata AIA Life Insurance Company Limited (IRDA of India Regn. No. 110)
- CIN U66010MH2000PLC128403 Registered & Corporate address: 14th Floor, Tower A, Peninsula Business Park, SenapatiBapat Marg, Lower Parel, Mumbai – 400 013.
- Insurance is the subject matter of the solicitation.
- For complete details please contact our Insurance advisor or visit nearest branch office of Tata AIA Life or call 1-860-266-9966 (local charges would apply) or 1-800-267-9966(toll free no) or write to us at email@example.com. Visit us at: www.tataaia.com or SMS 'LIFE’ to 58888.
- Trade logo displayed above belongs to M/s. Tata Sons and used by Tata AIA Life Insurance Company Ltd. under license
- Trade logo displayed above belongs to M/s. AIA Company Ltd. and used by Tata AIA Life Insurance Company Ltd. under license