Financial Daily from THE HINDU group of publications
Tuesday, Jan 31, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 31, 2006 |
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Money & Banking
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Life Insurance Aviva Life in pact with Centurion Bank of Punjab Our Bureau
Mr Shailendra Bhandari (left), MD, Centurion Bank of Punjab Ltd, and Mr Stuart Purdy, MD, Aviva Life Insurance, at a press conference in Mumbai on Monday. - - Paul Noronha
Mumbai , Jan. 30 AVIVA Life Insurance Company has inked a bancassurance agreement with Centurion Bank of Punjab. The company now has 18 tie-ups in the area of bancassurance. Mr Stuart Purdy, Managing Director, Aviva Life Insurance said that currently 66 per cent of Aviva Life's business in India came from bancassurance. Of the 18 tie-ups with banks, ABN-Amro brought in the maximum premium, said Mr Purdy. This tie-up is a referral bancassurance arrangement, which means that Aviva Life will deploy around 300 people to sell in Centurion Bank of Punjab's branches. Mr Shailendra Bhandari, MD and CEO, Centurion Bank of Punjab, said that tie-up would help the bank become a one-stop shop for its customer's financial needs.
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