IndusInd Bank in talks with Reliance Nippon Life Insurance, a joint venture between Anil Ambani’s Reliance Capital and Nippon Life, to explore bancassurance partnership.

Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has started negotiations with IndusInd Bank to form a bancassurance partnership. This development comes as the agreement between IndusInd International Holdings Ltd (IIHL) and RCAP advances, with IIHL set to acquire RCAP and its subsidiaries. The bancassurance collaboration aims to combine IndusInd Bank’s vast distribution network with Reliance Nippon Life Insurance’s insurance capabilities, creating a strong presence in the insurance industry. This partnership will leverage IndusInd Bank’s over 1,400 branches and 10,000 ATMs to distribute Reliance Nippon Life Insurance products, increasing the company’s reach and customer base. The agreement is subject to regulatory approvals, but this paves the way for a successful integration of the two entities, providing a robust insurance platform for customers.

Source: https://www.etnownews.com/companies/reliance-capital-acquisition-anil-ambanis-reliance-nippon-life-insurance-in-bancassurance-talks-with-indusind-bank-article-116472782/amp