Aditya Birla Sun Life Insurance Company Limited (ABSLI) has formed a partnership with Equitas Small Finance Bank to offer its life insurance products to the bank’s customers. This collaboration aims to increase financial protection and inclusion by making a wide range of insurance solutions more accessible to Equitas customers. Through this partnership, Equitas customers will have direct access to ABSLI’s comprehensive portfolio, which includes protection plans, savings plans, retirement solutions, endowments, and Unit Linked Insurance Plans (ULIPs).
The partnership will also introduce new offerings, such as the Salaried Term Plan, Nishchit Aayush Plan, and Assured Savings Plan, to the bank’s customers. According to Kamlesh Rao, MD & CEO of ABSLI, this partnership will help extend insurance expertise to more customers, aligning with the industry’s agenda of “Insurance for All by 2047.” Murali Vaidyanathan, Senior President and Country Head of Equitas Small Finance Bank, stated that the partnership will enhance the bank’s product offerings by integrating insurance plans through an open market architecture model.
As of March 31, 2025, ABSLI reported significant financials, with assets under management (AUM) of ₹99,496 crore and a gross premium income of ₹20,639 crore. The company has also seen a 10% year-on-year growth in individual business first-year premiums. ABSLI operates through 430 branches and partners with 12 bancassurance firms, supported by over 65,500 direct selling agents and more than 20 lakh active customers nationwide.
This partnership is expected to benefit both companies, as ABSLI will be able to expand its customer base and Equitas Small Finance Bank will be able to offer a more comprehensive range of financial products to its customers. The collaboration is also in line with the government’s goal of increasing financial inclusion and providing insurance coverage to all citizens by 2047. Overall, the partnership between ABSLI and Equitas Small Finance Bank is a significant development in the insurance industry, and it is expected to have a positive impact on the financial lives of millions of people in India.