Canara Bank, a public sector bank, and Bajaj Allianz General Insurance, a
private general insurance company, have signed a corporate agency
agreement for the distribution of Bajaj Allianz’s general insurance
products.
Both have set a target to achieve Rs. 400
crore business in the first year (FY 2017-18) of operations by utilising
Canara Bank’s 5,920 branch network spread across the country.
Rakesh Sharma, MD & CMD, Canara Bank, said under this agreement,
Bajaj Allianz General Insurance will offer its products to Canara Bank
customers.
A bouquet of personal lines of products are motor insurance, home
insurance, health insurance, travel insurance and commercial line of
products such as fire insurance, marine insurance, and engineering
insurance.
Speaking on the occasion, Sanjiv Bajaj, Chairman, Bajaj Allianz General
Insurance, said “it’s an opportunity for us to join with Canara Bank.
This collaboration between two iconic brands is for and towards the
interest of common people.”
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