UCO Bank has tied up with four insurers to offer various insurance products to its customers through its network of branches across the country. The lender teamed up with SBI Life Insurance Company, the Oriental insurance company and Religare insurance Company, Star Health and Allied insurance company for selling their products. With these new partnerships, the lender will now offer a way wider range of insurance products.
UCO Bank signs a ‘bancassurance’ pact with SBI life Insurance to supply insurance solutions to the purchasers of UCO Bank at its 3,086 branches spread across the country.
What is Bancassurance?
Bancassurance is a partnership between a bank and an insurance firm, where the bank sells the tied insurance company’s insurance products to its clients.
Important takeaways for all competitive exams:
- Headquarters of UCO Bank: Kolkata, West Bengal.
- Managing Director(MD) & Chief Executive Officer(CEO) of UCO Bank: Atul Kumar Goel.