Indian Bank inks pact with Cholamandalam MS General Insurance

Public sector Indian Bank Friday signed a corporate agency agreement with Cholamandalam MS General Insurance Company for distribution of its insurance products to bank customers.

According to the agreement, Cholamandalam MS, a Murugappa Group company, would sell its range of insurance policies to customers of Indian Bank.

On the signing of agreement, Indian Bank Managing Director and CEO, Padmaja Chunduru said, "The partnership will greatly benefit our customers and through this alliance, our customers will get a wide range of innovative products".

Indian Bank has 2,872 branches, across the country.

"Both Indian Bank and Chola MS seek to fulfill the non-life insurance needs of bank's customers", she said.

Cholamandalam MS General Insurance Company, Managing Director, SS Gopalarathnam said, "two great institutions headquartered in Chennai are coming together for a longstanding partnership."