SBI Life signs bancassurance pact with Paschim Banga Gramin Bank

The Paschim Banga Gramin Bank has joined hands with SBI Life Insurance for a bancassurance pact, officials said on Thursday.

The partnership will see all the branches of Paschim Banga Gramin Bank across West Bengal offer SBI Life’s range of protection, wealth creation, credit life, annuity and savings products, thereby increasing accessibility of life insurance solutions in the region, they said.

The agreement was signed by Arun Kumar Patra, General Manager of Paschim Banga Gramin Bank and Jayant Pandey, Regional Director of SBI Life. Bancassurance is an arrangement between a bank and an insurance company, as a part of which the latter can sell its products to the lender’s customers.