Religare Health Insurance has signed an insurance distribution agreement with Union Bank of India, whereby it products and services will sold by the bank branches.
Union Bank of India executive director SK Jain said, "Union Bank becomes the first PSB to enter into a tie-up for distribution of health insurance products of a standalone health insurer viz Religare Health Insurance."
Under the terms of the corporate agency agreement, Religare Health Insurance’s product and service bouquet would now be available through the distribution network of the bank in the country.
Commenting on the agreement, Religare Health Insurance managing director and CEO Anuj Gulati said, "We are delighted to announce this privileged association with the Union Bank of India, and together look forward to building enduring relationships with our customers."
Religare Enterprises Limited (REL) offers services including asset management, life and health insurance, lending, broking, investment banking, and wealth management.
Union Bank of India manages more than 2800 bank offices throughout the country and serves over 24 million customers.