Mumbai: StanChart has tied up with Allianz Bajaj Life Insurance Company to market the latters insurance products in the country. The StanChart group has a retail customer-base of 2.4 million, which includes a credit card-base of 1.2 million. The tie-up is expected to leverage the StanChart groups 60 branches across the country to market and cross-sell life insurance products in the country.

"The distribution of insurance products is in line with our wealth-management strategy to offer a complete and comprehensive range of products to fulfil the gamut of customer needs. With this alliance, we have a complete portfolio of insurance products and capital market products," says V Ramachandran, head of consumer banking, Standard Chartered Group, India.

The life insurance products will initially be launched in the metros. The products will also be distributed by Standard Chartered Finance, another member of the StanChart group. StanChart also proposes to be a corporate agent of Allianz Bajaj, subject to the approval of the Insurance Development and Regulatory Authority of India and the Reserve Bank of India.