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Development
Credit Bank joins hands with Birla Sun Life
Our
Banking Bureau
11 October 2002
 Mumbai:
Birla
Sun Life Insurance has tied up with Development Credit
Bank (DCB) for distributing its life insurance products.
The company will offer its entire range of insurance products
to the customers of DCB, leveraging the latter’s
customer-base of 4,00,000 accounts.
DCB’s
focus on strategies to strengthen its retail business
with mid-corporates on the corporate banking side makes
it an ideal distribution channel for Birla Sun Life Insurance
products, says a press release.
While
DCB recently tied up with Tata AIG General Insurance Company
for the distribution of general insurance products, Birla
Sun Life also has bancassurance agreements with Citibank,
Deutsche Bank and Bank of Rajasthan. The company is targeting
a sale of 90,000 policies with corresponding annualised
premium of more than Rs 215 crore in the coming year.
 Birla
Sun Life completed new business with a total sum assured
of Rs 1,600 crore for the year ending 31 March 2002 and
earned a premium income of Rs 36 crore. It sold around
20,000 policies and covered more than 33,000 lives across
individual life and group life business.
List of reports on Development
Credit Bank
List
of reports on Birla Sun Life Insurance
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