FGB and LIC strengthen strategic partnership with co-branded credit card launch

FGB, one of the leading banks in the UAE, and LIC International have further solidified their strategic partnership, with the launch of a new co-branded credit card. LIC International is a subsidiary of the Life Insurance Corporation of India, the world’s largest insurer with over 350 million policies globally.

The new FGB LIC International credit card offers customers a range of privileges, including complimentary LIC International life insurance coverage, interest-free payment plans, reward points and a host of lifestyle benefits.

FGB and LIC International have delivered a wide range of innovative insurance solutions to the UAE market since 2013, which are tailor-made to meet customers’ needs. Earlier this year, LIC International recognised FGB’s contribution during a ceremony in Bahrain, which was held to mark the bank’s landmark achievement of AED 1 billion in first premium income.

Hana Al Rostamani, Head of the Consumer Banking Group at FGB, said: “FGB is proud of our association with LIC International. This product is another first for us in the region. This strategic partnership leverages the synergies of both organisations to offer tailor-made and innovative insurance solutions that are simple and hassle-free. This new credit card offers life protection coverage for AED 1 per month in addition to a 0% Easy Payment Plan on LIC International premium payments at no extra cost.”

She added: “The FGB LIC International credit card also offers multiple complimentary lifestyle benefits, not just locally but also in India, Egypt and the Philippines, including free money transfers, pick-up and drop-off at airports, flight discounts and more."

Rajesh Kandwal MD & CEO of LIC International, said: “With the launch of FGB LIC credit card, our bancassurance partnership with FGB has not only been redefined, but a new depth in the relationship has been added. The card, being the first of its kind in the region, brings a unique added value of life insurance. I am sure that with FGB’s strong customer connect, large customer base and effective distribution, the card will be a huge success and a win-win for our customers and our partnership."