Canara Bank has inked pact with the state-owned general insurer The New India Assurance Company Ltd. to sell policies through its branches. The pact allows Canara Bank to offer non-life insurance products to its customers across metros and tier II and III cities through the bank’s extensive network of over 6,000 branches.
The pact also strengthens distribution network of New India Assurance. Under the agreement, New India Assurance will make offer a bouquet of products such as motor, home, health, travel, fire, marine, and engineering insurance policies through branches of Canara Bank.
Banking Takeaways from Above News-
- New India Assurance Co Ltd is a 100 % Govt owned multinational general insurance company operating in 28 countries and headquartered at Mumbai.
- Mr. G. Srinivasan is the present Chairman cum Managing Director of New India Assurance Company.
- Canara Bank was founded as ‘Canara Bank Hindu Permanent Fund’ in 1906.
- Headquarter of Canara bank is in Bengaluru.
- Shri. T.N. Manoharan is the Chairman of Canara Bank.
Source- The Hindu