New Delhi [India], August 6 : SBI Life and J&K Bank partner to bring comprehensive life insurance solutions closer to families across India. Under this strategic corporate agency tie-up, over 1,000 branches of J&K Bank will offer the entire suite of SBI Life's protection, savings, retirement, and child plans. The alliance aims to strengthen financial security and expand coverage in regions including Jammu & Kashmir and Ladakh.
According to a press release, the corporate agency agreement was signed by Budhaditya Banerjee, Regional Manager - Institutional Alliances (Chandigarh Region), and Masood Ahmad Lankar, DGM Cross Selling at J&K Bank. The signing took place in the presence of Santosh Chacko, President - Business Strategy at SBI Life Insurance, and Anita Nehru, GM DAC & Cross Selling at J&K Bank.
Commenting on the partnership, Amit Jhingran, MD & CEO of SBI Life Insurance, said, "Our partnership with J&K Bank reflects a shared commitment to deepening insurance awareness and strengthening the culture of financial protection for households across the nation."
He added, "Life insurance plays a critical role in ensuring financial continuity and safeguarding family aspirations. This collaboration will further reinforce its importance in everyday financial planning."
Speaking on the tie-up, Amitava Chatterjee, MD & CEO of J&K Bank, stated, "The addition of SBI Life to our portfolio of insurance partners enhances our ability to offer customers a wider range of competitive, need-based life insurance solutions, enabling them to choose products best suited to their unique financial needs."
He further noted, "By bringing together the strengths of two trusted institutions, this collaboration further reinforces our customer-centric approach and enhances our ability to deliver greater value through the Bank's extensive network across the country."
Highlighting the objective behind the move, Santosh Chacko, President - Business Strategy at SBI Life Insurance, said, "Insurance is fundamentally about building financial dignity and ensuring that families remain protected through life's uncertainties. Through this partnership, we want life insurance to be seen not merely as a product, but as an essential pillar of responsible financial well-being...."
The release noted that the initiative aligns with the Insurance Regulatory and Development Authority of India's (IRDAI) goal of achieving 'Insurance for All by 2047' by improving financial literacy and driving insurance penetration in historically underserved markets.