Tata AIG and Sangli Bank enter into a strategic tie-up

Mumbai, Sep 5 (UNI) Tata AIG Life Insurance and Tata AIG General Insurance today announced the beginning of their strategic comprehensive partnership with the Sangli Bank, one of the oldest private sector banks in western Maharashtra.

Under this alliance Sangli Bank will make the wide range of Tata AIG Life and Tata AIG General insurance products and services available to its customers through its network of 189 branches across the country. It is pertinent to note here that the Sangli Bank has been in operation for over 90 years now.

General Manager of Sangli Bank, Mr S R Godbole said, '' Sangli Bank predominantly has a rural and regional base and has played a vital role, in its area of operation, by improving the financial position of the ordinary people, particularly from the agricultural sector. By following the true spirit behind our logo, 'Sanchayaat Samruddha Jeevanam', we have created a liking for savings in the minds of our customers and proved that this is the only solution for improving standard of living, in the long run. On this strong footing of ours, we are joining hands with Tata AIG, one of the leading private sector insurance companies, for offering further financial solutions to our customers.'' Managing Director of Tata AIG Life Insurance, Mr Trevor Bull said, ''We are extremely pleased to embark on this tie-up with Sangli Bank, one of the oldest private sector banks. The partnership will not only help us leverage the inherent synergies in the rural areas but also bolster our commitment to serve the rural community. Together with Sangli Bank, we are well positioned to provide for the growing rural market for life insurance.'' Chief Operating Officer of Tata AIG General Insurance, Mr Michael Carlin said, '' Tata AIG General and Sangli Bank share similar values towards business and customers and I am confident that this would help in creating a long lasting relationship. This initiative will enable us to expand our product suite and offer our insurance services to a larger cross section of society. Our intention is to reach out to the masses that have had none or very little access to organised financial services.'' The relationship will enable both insurance companies to leverage the strong Indian network of the Sangli bank and boost the distribution reach of their products in the semi-urban and rural parts of the country, he added.

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