NIC ties up with Birla Sun Life

Bangalore: National Insurance Company (NIC) has tied up with Birla Sun Life Insurance Company Ltd to include personal life cover in its general insurance products.

H S Wadhwa, CMD of NIC said: "We will now include death cover into our products, especially housing loan and other insurance loan cover products. This tie-up alone would bring in an additional premium income of at least Rs300 crore in the first year.

The tie-up would also open up risk cover opportunities with other Birla group companies and help push up the premium income by another Rs500 crore in a year. In addition, the tie-up would allow Birla Sun Life to vend NIC's general insurance products through its network.