Aditya Birla Sun Life Insurance Company Limited (ABSLI) has partnered with Equitas Small Finance Bank to offer a range of life insurance products to the bank’s customers. This collaboration aims to increase financial protection and inclusion by making insurance solutions more accessible to Equitas customers. Through this partnership, Equitas customers will have direct access to ABSLI’s comprehensive portfolio, including 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 goal 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 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 parties, with ABSLI gaining access to Equitas’ extensive branch network and Equitas enhancing its product offerings. The partnership is also in line with the industry’s goal of increasing insurance penetration in India. With this collaboration, ABSLI and Equitas aim to make a positive impact on the lives of their customers by providing them with easy access to a range of insurance solutions. Overall, the partnership is a significant step towards achieving the goal of “Insurance for All by 2047” and promoting financial inclusion in India.