Bandhan Life partners with Bandhan bank to boost insurance business, eyes Rs 300 crore premium in first y

Bandhan Life Insurance has partnered with Bandhan Bank to distribute life insurance products through its 1,700 branches. This strategic move aims to generate Rs 300 crore in new premium business in the first year. Bandhan Life, which recently acquired Aegon Life, plans to expand its bancassurance distribution channel by partnering with more banks and developing multi-channel strategies. The company is also focusing on building offline distribution channels to drive growth. Initially, around 550 bank branches will distribute two new life insurance products tailored for Bandhan Bank customers, with plans to expand to all 1,700 branches by year-end. Bandhan Life is also working on launching insurance savings products targeting microfinance customers of Bandhan Bank. The company aims to expand its presence to around 20 offices across the country within a year.