Aviva-Rajasthan Bank tie-up as Bancassurance partners

Jaipur, Jan 24 (UNI) Aviva Life Insurance and the Bank of Rajasthan, a leading private sector bank with 463 branches in 300 cities, have formalised their Bancassurance partnership tie-up to tap a potential customer base of 2.5 million accross the country.

The tie-up was formally launched here today in the presence of Aviva Life Insurance Managing Director and CEO Bert Paterson and the Bank of Rajasthan Managing Director P L Ahuja at a brief ceremony.

Bancassurance is a distribution of insurance products through a bank's network of branches.

Aviva is one of the leaders in the Bancassurance channel with close 40 partnerships covering length and breadth of the country, Mr Paterson said.

The new tie-up would enble Aviva to increase its presence in more than 1700 locations in the country with potential customer base of 46 million.

Aviva PLC is the UK's largest and the world's oldest insurance group with a history dating back to 1696. Presently the company is fifth largest insurer worldwide with 40 million customers and 377 billion US Dollar assets.

In India, Aviva Life Insurance began as a joint venture with Dabur in 2002 and since then doing well in the country, Mr Paterson said.

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