Cementing their business relations further, Jammu & Kashmir Bank (J&K Bank) and Bajaj Allianz General Insurance Company (BAGICL) have renewed their Bancassurance tie-up for three more years. The business association between the two has already completed 14 years of trust and understanding.
Through this alliance, the bank shall continue to act as a corporate agent to Bajaj Allianz General Insurance and sell their insurance products which include motor, health, home insurance and personal accident covers etc. to its customers.
Jammu & Kashmir Bank is the only state government owned bank in the country with the Government of J&K (GoJK) holding around 53% shareholding in the bank. J&K Bank holds a monopolistic position in the state of J&K constituting majority of the credit and deposits in the state.
