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Bangalore-based public sector lender Canara Bank is aiming at a fee-based income of Rs 100 crore from bancassurance business during the next one year. The Bank announced its tie up with Apollo Munich Health Insurance to provide health insurance to Canara Bank customers across the country.
Canara bank Chairman and Managing Director R K Dubey said, “We’ve tied up with Apollo Munich to offer health insurance products. We’ll offer some tailor-made products to customers.”
Currently, Canara Bank’s fee-based income from the sales of insurance policies is to the tune of Rs 15 crore. The bank, in August this year, had entered into an MoU with United India Insurance for distribution of UII’s general insurance policies, he said.
