Ageas Federal Life Insurance and CSB Bank forge an industry first - SME Bancassurance partnership in India!

Ageas Federal Life Insurance, one of India's leading and fastest growing private life insurers, has announced a strategic SME Bancassurance Partnership with CSB Bank, to expand the reach of life insurance solutions among Small and Medium Enterprises (SMEs) and Individual entrepreneurs, on a pan India basis.

Backed by the Ageas Group's global expertise in SME Life Insurance, this Strategic Partnership enables CSB Bank and Ageas Federal to serve customers with comprehensive financial solutions that combine credit, savings, and Life insurance. Through this collaboration, customers of CSB Bank, especially the Small and Medium Enterprises (SMEs) can access bespoke life insurance solutions designed to protect and safeguard the individual's business continuity, wealth, and their families' financial security.

CSB Bank, which presently operates 834 branches and 800 ATMs across the country, is steadily transforming into a new-age private sector bank that enables customers to borrow, transact, save, and invest seamlessly. By integrating Ageas Federal's innovative protection offerings within its suite of financial products such as home loans, business loans, and SME credit lines, CSB Bank aims to enable customers to build a comprehensive, protection-led financial journey.

Mr Pralay Mondal, M.D. & CEO, CSB Bank, said: "We are pleased to partner with Ageas Federal Life Insurance to bring comprehensive protection options to our customers. Our bank has always focused on empowering SME customers with flexible and transparent financial services. This collaboration allows customers to integrate credit, savings, and insurance within their banking relationship, supporting long-term financial security."

Mr. Jude Gomes, M.D. & CEO, Ageas Federal Life Insurance, said: "Ageas Federal Life Insurance is redefining the distribution space with innovative, first-in-market and digitally enabled solutions. We are constantly serving and addressing customers' needs more effectively, towards this, our strategic partnership with CSB Bank marks a significant milestone in our Bancassurance growth journey - particularly for the SMEs and individual entrepreneurs in India. By combining CSB Bank's deep-rooted customer trust and strong national presence along with our innovative customer centric solutions, we aim to serve clients with easy and superior insurance experiences. This partnership is a shared commitment towards realising the regulator's vision of Insurance for All."

With India's growing entrepreneurial ecosystem and increasing NRI financial participation, the Ageas Federal-CSB Bancassurance partnership marks an important step in expanding life insurance reach. It ensures that customers, whether running a business, managing overseas income, or planning for family protection, can access integrated financial solutions under one roof.

Together, Ageas Federal Life Insurance and CSB Bank are committed to redefining Bancassurance excellence, empowering customers to plan, protect, and prosper with confidence.

Shares of CSB Bank Limited was last trading in BSE at Rs. 386.50 as compared to the previous close of Rs. 385.85. The total number of shares traded during the day was 16063 in over 645 trades.

The stock hit an intraday high of Rs. 388.95 and intraday low of 382.55. The net turnover during the day was Rs. 6190472.00.

Source : Equity Bulls

Keywords

CSBBank INE679A01013 SMEBancassurancePartnership AgeasFederalLifeInsurance