Karnataka Bank signs MoU with Bajaj Allianz

Mangaluru: City-based Karnataka Bank has signed a Memorandum of Understanding (MoU) with Bajaj Allianz General Insurance Company for General Insurance business.

With the agreement, the bank would be able to provide vast choice of non-life insurance products to its customers across all its 747 branches, supported by the customer centric products of Bajaj Allianz, bank Managing Director and CEO P Jayarma Bhat said.

The corporate agency agreement was inked yesterday at the Head Office of Karnataka Bank, the bank said in a statement.

Tapan Singhel, Managing Director and CEO of Bajaj Allianz, said the partnership was an important part of the company’s growth strategy which required a robust distribution network.