The Hindu Business Line : Central Bank to sell New India products

Dr Dalbir Singh, Chairman and Managing Director, Central Bank of India, and Mr R. Beri, CMD, The New India Assurance , at a press conference in Mumbai on Wednesday. — Paul Noronha

Mumbai , May 26

THE New India Assurance Co Ltd and Central Bank of India have entered into a bancassurance tie-up whereby the latter will distribute the insurer's non-life products through its extensive branch network.

As per a Memorandum of Understanding signed here today, Central Bank of India will become the corporate agent of NIA and will distribute its non-life products through its 3,130 branches.

"The tie-up is to reach the expectations of the customers. It is to bring both banking and insurance under one roof and help the banking business to give an advisory opinion to its customers regarding insurance," said Mr A.V. Purushothaman, Executive Director, NIA, at a press conference.

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