India’s largest insurer Life Insurance Corporation of India (LIC) has signed an agreement with private sector lender Axis Bank as its bancassurance partner wherein the bank will distribute LIC’s products to its customers. In the preliminary phase, the bank will distribute LIC’s life insurance products across its branches in West Bengal, Bangalore and Haryana – Panchkula.
Axis Bank Limited is the third largest private sector bank in India. Axis Bank’s stake holders include prominent national and international entities. As of 31 Dec. 2013, approximately 43% of the shares are owned by Foreign Institutional Investors.
So let’s do:
1. Name the bank, which has signed an agreement with LIC as bancassurance partner?
Source – The Hindu