Karur Vysya Bank signs bancassurance deal with SBI Life Insurance

Tamil Nadu-based Karur Vysya Bank (KVB) said that it has forged an arrangement with SBI Life Insurance for marketing the latter’s insurance schemes through the bank’s branches.

The bancassurance agreement was inked by the parties on 23 March 2023 in Chennai.

Karur Vysya Bank said that it is a significant player in Southern India with an established market footprint across the urban, rural, and semi-urban areas.

SBI Life Insurance, which is among the major trusted insurance firms in India, will benefit from the strength of the bank to sell its insurance schemes, said Karur Vysya Bank.

Karur Vysya Bank signs bancassurance deal with SBI Life Insurance. Photo courtesy of Christopher J. Fynn/Wikimedia Commons.

B Ramesh Babu — Karur Vysya Bank MD and CEO said: “KVB with its tradition spanning over 105 years is a major player, particularly in the States of Tamil Nadu, Andhra Pradesh, Telangana and Karnataka.

“KVB offers the entire range of financial services through tie ups with leading service providers.”