Lakshmi Vilas Bank to offer Bajaj Allianz insurance products

Bangalore, Mar 15 (UNI) Private sector Lakshmi Vilas Bank will henceforth offer Bajaj Allianz General Insurance Company's products.

A Memorandum of Understanding (MoU) to this effect was signed by Bank Chairman and CEO R M Nayak and Bajaj Allianz General Insurance Company CEO Kamesh Goyal here today.

Speaking on the occasion, Mr Nayak said ''our pursuit to become a fully integrated financial service provider has materalised with signing of this MoU. With this partnership, we would be able to provide the entire bouquet of Bajaj Allianz products to our customers and with their wide network of offices, we are sure they will be able to ensure quality service to all our customers.'' Mr Goyal said ''it had been our endeavour to enhance our distribution reach and customer base. The MoU would help in providing need-based general insurance products to their extensive customer base. As the partnership progresses, we can also look at providing customised products for their customers.'' Mr Nayak said the bank's turnover was expected to grow by 30 per cent this year to cross Rs 9,000 mark by March 31, 2007, from Rs 7,400 crore achieved in the previous year. By September this year, 150 branches would have computer facility.

UNI