Union Bank revamps Insurance distribution channels post merger

The Union Bank of India has expanded its insurance distribution channels after the amalgamation of Andhra Bank and Corporation Bank with it with effect from April 1, 2020.
Now the bank will offer Insurance products of three life insurers, four general insurers and two standalone health insurers.
Prior to amalgamation Union Bank was distributing insurance products of one life insurer, 3 general insurer and one stand alone health insurer, under corporate agency tie-up agreements.
They were SUD Life Insurance Co Ltd, Bajaj Allianz General Insurance, New India Assurance Co Ltd and Chola M.S. General Insurance Co Ltd and Religare Health Insurance Co Ltd.
Post-amalgamation, the bank has decided to continue corporate agency agreement with India First Life Insurance Company Limited and LIC of India under Life Insurance segment, United India Insurance under General Insurance segment and Manipal Cigna Health Insurance under Health Insurance Segment.