Oct 4: Jaipur-based AU Small Finance Bank Ltd on Wednesday announced a corporate agency tie-up with Aditya Birla Health Insurance Company Ltd (ABHICL) for distribution of the latter’s health insurance products.
“The bank has been issued certificate of registration CA0515 under Registration of Corporate Agents Regulations, 2015 by Insurance Regulatory and Development Authority of India (IRDAI) and bank has entered into agreement with ABHICL to act as Corporate Agent for Health Insurance Business,” the company said in a statement.
Aditya Birla Health Insurance Company Ltd is a joint venture between Aditya Birla Group, and MMI Holdings Ltd (MMI). This partnership between a Fortune 500 Indian Group and one of South Africa’s largest insurance companies aims to revolutionize the Indian health insurance industry with a unique offering for customers.
AU Small Finance Bank Ltd, formerly AU Financiers (India) Ltd operates as a commercial bank. The company offers savings and current account, term deposit, credit card, insurance, retail loans, wholesale banking and government banking.
Shares of the company were trading at Rs 565.80, up 0.33% from the previous closing of Rs 563.95, on BSE at 11.44 am today.