Nippon Life and IndusInd Bank Propel Bancassurance Alliance

Reliance Nippon Life Insurance explores a strategic bancassurance partnership with IndusInd Bank as the IIHL's acquisition of RCAP reaches its final stages. This partnership is expected to enhance market reach, leveraging IIHL's strong capital base and benefiting policyholders with expansive banking services.

Reliance Nippon Life Insurance, a subsidiary of Reliance Capital, is in talks with IndusInd Bank for a bancassurance partnership as the IndusInd International Holdings Ltd. (IIHL) and Reliance Capital acquisition approaches completion.

The parent entity of IndusInd Bank, IIHL, successfully bid to acquire Reliance Capital, planning to integrate and enhance the insurance business alongside Japan-based Nippon Life.

IIHL aims to finalize this integration by next month, facilitating a collaboration that strengthens market presence and service delivery through a bancassurance model that benefits stakeholders.

(With inputs from agencies.)