ICICI Lombard General Insurance Company, one of India’s leading private general insurance companies has announced a tie-up with Catholic Syrian Bank. Through the tie-up, the Company will able to offer general insurance solutions to the bank’s customer base in Kerala, Tamil Nadu, Karnataka and Maharashtra.
The 94 year old Kerala based bank, Catholic Syrian Bank has a strong presence in the South and West regions of the country. The bank had a robust distribution network of 431 branches across 15 states and 4 union territories as on December 31, 2014.
ICICI Lombard would be able to offer its risk solutions to the bank’s wide customer base of 1.61 million clients (as on December 31, 2014). The bank’s focus is on the Small and Medium Enterprises (SMEs) and Retail client segments apart from NRI clients. The Company will offer retail as well as corporate products through the bank branches.
Commenting on the occasion, Mr. Bhargav Dasgupta, MD & CEO, ICICI Lombard GIC Ltd. said “We are privileged to join hands with Catholic Syrian Bank, which has a rich heritage of serving its customers over 94 years.
As individuals and business owners strive to scale new highs, it is critical that they are adequately covered with the right shield of insurance solutions across business, health, motor and other covers. At ICICI Lombard, our endeavour would be to address the risk mitigation needs and thereby benefit Catholic Syrian bank’s esteemed clientele through relevant insurance offerings.”
Mr. Anand Krishnamurthy, MD & CEO, Catholic Syrian Bank Ltd. said, “We are very excited about the tie-up with ICICI Lombard for the General insurance banc-assurance partnership. Our focus is to bring value added and innovative products to our customers – specifically to the small and medium enterprise and the individual retail segments.
ICICI Lombard brings an excellent suite of products from which we believe that our clients can benefit. We look forward to the success of this partnership.”
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