Tata AIG ties up with Sangli bank
The Financial Express — September 06, 2006

Private sector insurance players of Tata AIG group -Tata AIG Life Insurance Company (Tata AIG Life) and Tata AIG General Insurance Company (Tata AIG General) - have announced a bank assurance partnership with Sangli Bank.

Under this alliance Sangli Bank will make the range of Tata AIG (Tata AIG Life and Tata AIG General) insurance products and services available to its customers through its network of 189 branches across India. Speaking on the tie-up, Trevor Bull, managing director [of] Tata AIG Life Insurance Company said, "The partnership with Sangli Bank, one of the oldest private sector banks will not only help us to leverage the inherent synergies in the rural areas but also bolster our commitment to serving the rural community." Commenting on the alliance with Tata AIG General insurance, S R Godbole, general manager, Sangli Bank said, "We have over one lakh customers who can buy insurance products and we will be having awareness programmes for them. Sangli Bank has 189 branches in predominantly rural and regional areas."

The bank is targeting a business of Rs 4-5 crore out of insurance, through which it can earn a fee-based income of Rs one crore. Godbole further mentioned that to maintain top of the line service standards, the bank has trained 75 people in this new area, for marketing the various products of Tata AIG. The products offered for sale will suit the requirements of our customers and we are confident about the grand success of this partnership, he added.