PUNJAB NATIONAL BANK ENTERS INTO TIE-UPs WITH INSURANCE

PUNJAB NATIONAL BANK ENTERS INTO
TIE-UPs WITH INSURANCE 

Punjab National Bank, the 2nd largest lender in the Public Sector space today signed an Agreement with Bajaj Allianz General Insurance Company Ltd., New India Assurance Company Ltd., and one Standalone Health Insurance Religare Health Insurance Company Ltd.

The tie-up will offer personal products such as Motor Insurance, Home Insurance, Health Insurance, Travel Insurance besides commercial policy coverage like Fire Insurance, Burglary Insurance, Marine Insurance and Engineering Insurance.

Commenting on the partnership, Mr.Sunil Mehta, MD & CEO, Punjab National Bank, said PNB has always strived for customer satisfaction. Like Banking, Insurance is also a critical part of a person’s life cycle needs. Bancassurance, in this context assumes great importance for our Bank, which has a large customer base and this tie up will help in providing our customers with a bouquet of products and services to meet their requirements. In contemporary times, it is also vital for the Banks to boost their bottom lines and leverage their strength and vast geographical reach to shore up the fee based income for improved profitability. This tie up would also give bank new avenues for business growth in this competitive scenario.

Mr. Sanjiv Sharan, Executive Director of the Bank welcomed the tie-up partners and emphasised that this is a win-win situation for all involved, viz. Bank, Insurers & Customers who will gain as their financial needs would be met under one roof at competitive rates.

The Launch Ceremony was graced with the presence of Shri Sunil Mehta, MD & CEO and Shri Sanjiv Sharan, Executive Director of Punjab National Bank, Shri Tapan Singhel, MD & CEO of Bajaj Allianz General Insurance Company Ltd., Shri Hemant G. Rokade, Director & General Manager, New India Assurance Co. Ltd., and Shri Anuj Gulati, CMD, Religare Health Insurance Co. Ltd.