BoI looking for third partner to launch life insurance products

Mumbai, Nov 16 (UNI) Bank of India (BoI) is on the lookout for its third partner before it launches its own life insurance product in the market.

The bank Chairman and Managing Director M Balachandran told UNI ''After finalising Japanese insurance firm, Dai Ichi, now our search is on for the third partner before we launch the life insurance product by our own.'' However, he made it clear that the third partner will be from the country only.

Presently, the bank is selling the products of Life Insurance Corporation of India (LIC). Once it kicks off its own products into the market, the bank will stop selling the products of LIC.

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