Canara Bank and The New India Assurance Co. Ltd enter into Corporate Agency Arrangement for distribution of Insurance Products

Bangalore, June 8, 2017: Canara Bank, one of the largest Public Sector Banks in the country and The New India Assurance Co. Ltd, India’s largest general insurance company today signed corporate agency agreement for the distribution of The New India Assurance Co.’s general insurance products through Canara Bank’s extensive network of 6000+ branches across the country.
While Shri Lalit Vaid, General Manager, Marketing & R R Wing, HO signed the Corporate agency agreement on behalf of the Bank, Shri R M Singh, General Manager, Bancassurance Dept, HO executed the agreement on behalf of the Insurance Co., in the presence of top Executives from Bank & Insurance Co.

Under this strategic agreement The New India Assurance Co. Ltd will offer its industry leading general insurance products to the customers of Canara Bank. A bouquet of personal lines of products such as Motor Insurance, Home Insurance, Health Insurance, Travel Insurance and commercial line of products such as Fire Insurance, Marine Insurance and Engineering Insurance will be available through branches of Canara Bank.

The partnership aims to provide best-in-class general insurance products to Canara Bank Customers at highly competitive rates. The extensive branch network of the Bank and the Insurance Co. will facilitate insurance penetration and smooth post sales service of policies.