Syndicate Bank signs MOU with Bajaj Allianz

Bangalore, Oct 23 (UNI) Syndicate Bank has renewed their Corporate Agency alliance with Bajaj Allianz Life Insurance for a further period of three years.

The Memorandum of Understanding for the renewal was singed on October 19, the Bank said in a release here today.

Commenting on the renewal Bank Chairman and Managing Director C P Swarnkar said the Bank had shown oustanding performance under life insurance business since the inception of the tie up on October 21, 2003. During the first six months of the current fiscal it had mopped up over Rs 115 crore as premium he said adding that the tie up was a win win situation for the Bank, its customers and the Insurance Company.

The Bank in association with Bajaj Allianz had recently launched an insurance product ''Synd Protector Plan'' exclusively for small borrowers of the Bank. Exclusive insurance products for credit card holders and Syndicate Kissan Credit Card holders were in the officing, the release said.

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