State Bank of Mysore inks corporate agency pact with SBI General Insurance

State Bank of Mysore, an associate bank of State Bank of India, has signed corporate agency pact with SBI General Insurance for marketing its general insurance policies through its branch network.

State Bank of Mysore will provide SBI General Insurance substantial scope to cater diverse insurance requirements for individual as well as corporate customers through bank’s 68 lakh accounts across 737 pan-India branches.

At present, SBI General is providing services to mainly three segments i.e. Retail Segment, Corporate Segment and SME Segment. The insurers’ current portfolio comprises motor & home insurance for individuals and fire, marine, package, construction & engineering, group health & miscellaneous insurance for businesses.

SBI General Insurance Company is a joint venture between the State Bank of India and Insurance Australia Group (IAG). SBI owns 74% of the total capital and IAG the remaining 26%.