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.
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.
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.