Jammu and Kashmir Bank has signed a corporate agency agreement with Bajaj Allianz Life Insurance Company to sell life insurance products to its customers, with effect from April 1.

“Signing of the corporate agency agreement with insurance giant LIC of India and Bajaj Allianz Life in quick succession - with 1st April 2023 as date for commencing operations - clearly exhibits our customer-centric policy approach, thrust on swift implementation and commitment to widening the range of products, services for our clients,” MD and CEO Baldev Prakash said.

The bank had, on March 15, signed on as a bancassurance partner for Life Insurance Corporation of India.

The bank’s reach especially in J&K, Ladakh and range of Bajaj Allianz products makes the tie-up beneficial not only for the customers but a win-win for both the institutions by enabling them to leverage each others’ strengths, the release said.