Doha bank in strategic alliance with life insurance coporation international (lic)
Doha Bank has announced the launch of a strategic Bancassurance alliance with Life Insurance Corporation (LIC) – International, Bahrain to market range of insurance, retirement and investment products in the region. These products will be available for all residents irrespective of their nationalities.
LIC (International) BSC (c) is a subsidiary of LIC of India, a corporation established through an act of Government of India and is having operations throughout GCC States. In a function held at the Head Office of Doha Bank in Doha, Mr. Seetharaman, CEO of Doha Bank and Mr. S. Roy Chowdhury, CEO & Managing Director of LIC (International) signed the Memorandum of Understanding to market and distribute LIC (International) products in the State of Qatar.
Mr. Seetharaman, the CEO of Doha Bank, while launching the landmark alliance with LIC (International) said, “This tie-up will bring in huge value addition that would benefit the customers as both Doha Bank and LIC (International) are more of a household name in the region. Doha Bank is committed in bringing exceptional products for its customers and existing Doha Bank customers as well as non-customers can avail these products through Doha Bank.”
Mr. AV Narayanan, Head of Bancassurance of Doha Bank said, “LIC (International) product range is extremely attractive and flexible that would suit the budget of everyone. The best features of these products are its portability, which is available to Indian expatriates when they return to their home country. Doha Bank will offer a hassle free mechanism for payment of premium for its customers.”
Mr. S. Roy Chowdhury, CEO & Managing Director of LIC (International) Bahrain said, “LIC is delighted with its association with Doha Bank. Doha Bank is our first Bancassurance Partner in the Middle East. LIC products are well received by the residents and expatriates alike in the region. The entire product range of LIC (Intl) will be available through Doha Bank and will include Child Education plans, Retirement Plans, Term Insurance plans and Unit Linked products.”
