IDBI Fortis Life Insurance, a joint-venture of IDBI Bank and Fortis Insurance International, has opened a new branch in Jalandhar, India.

IDBI Fortis Life Insurance, a joint-venture of IDBI Bank and Fortis Insurance International, has opened a new branch in Jalandhar, India.

IDBI Fortis Life Insurance which started its operations in March 2008, at present has 37 branches and plans to increase the branch network to 55 within this fiscal.

The company said it has a distribution network of over 1380 branches through its partner banks and intends to strengthen its distribution force further by aiming for 15000 distributors/agents this fiscal.

Murali Iyer, national head for agency and Alliances at IDBI Fortis Life Insurance, said: “Jalandhar has been known globally for its sports goods and at the same time it is one of the fastest growing commercial and financial hubs of north India. It’s a perfect blend of a business oriented and lifestyle centric market.

“So we at IDBI Fortis Life Insurance, see a major opportunity in Jalandhar not only to expand our business through our distributor base but also to harness the alliances opportunities in the region. IDBI Fortis, one of the fastest growing life insurance companies in the country, will also create employment as well as self-employment opportunities for staff and distributors respectively.”