ICICI Lombard announces Bancassurance tie-up with YES BANK

ICICI Lombard General Insurance Company Limited, India's leading private sector non-life insurance company, has entered into a Bancassurance tie-up with YES BANK. The partnership will provide the Bank's diverse customer base access to the insurer's portfolio and make insurance more accessible to its customers across India.

Through this tie-up, ICICI Lombard aims to offer innovative insurance solutions to YES BANK's customers across 28 states and 8 Union Territories. With both organizations believing in offering the best to the customers through innovation, this partnership would offer customers the best of both worlds.

On the partnership Sanjeev Mantri, Executive Director, ICICI Lombard said, "At ICICI Lombard, it is our continuous endeavor to reach out to consumers and businesses to provide them effective risk management solutions. We are delighted to partner with YES BANK and serve their esteemed customers across the country. Given the progressive and technology-oriented approach of both partners, this collaboration is an ideal synergy between the two brands and value adding to YES BANK customers."

Rajan Pental, Global Head - Retail Banking, YES BANK, said, "YES BANK is pleased to enter into a Bancassurance tie-up with ICICI Lombard - we believe that our customers will derive greater value from comprehensive insurance solutions offered. We are confident that the Bank's technology and branch network strength, combined with the innovative product offerings and market reputation of ICICI Lombard will support our customers fulfill their non-life insurance needs. The tie-up is an important milestone and we remain committed to creating a differentiated customer experience."

Shares of ICICI Lombard General Insurance Company Ltd was last trading in BSE at Rs.1303.95 as compared to the previous close of Rs. 1252.85. The total number of shares traded during the day was 8680 in over 963 trades.

The stock hit an intraday high of Rs. 1309 and intraday low of 1255. The net turnover during the day was Rs. 11138419.

Shares of YES BANK LTD. was last trading in BSE at Rs.14.61 as compared to the previous close of Rs. 13.92. The total number of shares traded during the day was 29428688 in over 21559 trades.

The stock hit an intraday high of Rs. 14.61 and intraday low of 14.25. The net turnover during the day was Rs. 426594999.

Source : Equity Bulls

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