Birla Sun Life Insurance has tied up with five co-operative banks to increase its market in the tier II cities. In the north, the company has tied up with Lucknow based Indian Mercantile Co-operative Bank which has 11 branches in Uttar Pradesh. | |
| In Bhopal, it has entered into an agreement with Krishna Mercantile Cooperative Bank, while in Mumbai it has tied up with Thane Bharat Sahakari Bank, which has a network of 12 branches and has received licence to operate ten more branches in Maharashtra. |
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| In the eastern part of the country, the company has tied up with Dimapur- based Nagaland State Cooperative Bank having a network of 25 branches and Jamshedpur Urban Cooperative Bank, which has two branches in Jamshedpur. |
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| "We are replicating the our bancassurance model with key co-operative banks which offer tremendous opportunities for life insurance sales in hitherto untapped customer segments," said Nani Javeri, CEO, Birla Sun Life in a statement. |
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| At present, the company has tie ups with Citibank, Deutsche Bank, IDBI Bank, Catholic Syrian Bank, Karur Vysya Bank, Development Credit Bank and HBL Global. |
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