The Hindu Business Line : KSFC inks pact with IFFCO

BANGALORE: The Karnataka State Financial Corporation (KSFC) has signed the corporate agency agreement with IFFCO Tokio General Insurance to further strengthen marketing non-life products.

KSFC had diversified its activity into distribution of insurance products in 2002 and had mobilised a cumulative premium income of Rs 2.17 crore till July this year.

With recognition as the corporate agency by the IRDA, KSFC hopes to achieve an insurance business of Rs 4 crore during the current fiscal.

KSFC, a State public sector unit, is among the earliest to be awarded the license to conduct insurance business as a corporate agent.

KSFC, with its network of 31 branches across the State, hopes to expand its diversified business insurance products distribution in addition to strengthening its core business of providing loan assistance to small-scale in units.

It has extended a cumulative assistance of Rs 7,184 crore to more than 1.54 lakh units so far.

More Stories on : General Insurance | Financial Institutions | Karnataka

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