Srinagar- Strengthening further its customer-centric approach to financial services portfolio, J&K Bank today announced a strategic corporate agency agreement with SBI Life Insurance – one of India’s leading private life insurance companies – to offer a comprehensive range of life insurance solutions through the Bank’s extensive branch network across the country.
The partnership will enable the Bank’s customers to access SBI Life’s suite of protection, savings, retirement, and child-focused insurance plans, providing them with greater choice and convenience in selecting solutions aligned with their financial needs, life stages, and long-term aspirations.
The agreement was signed by DGM Cross-selling, Masood Ahmad Lankar on behalf of the Bank and Regional Manager, Institutional Alliances, Budhaditya Banerjee representing SBI Life Insurance in presence of MD & CEO, J&K Bank, Amitava Chatterjee, MD & CEO, SBI Life Insurance, Amit Jhingran and President Business Strategy, SBI Life Insurance, Santosh Chacko. The function was attended by the Bank’s Executive Director Sudhir Gupta, Chief General Managers, General Managers, Divisional Heads besides other senior officials from both the organizations.
Commenting on the collaboration with SBI Life, Bank’s MD & CEO Amitava Chatterjee said, “Guided by our philosophy of ‘socially empowering banking’, we remain committed to catalyzing economic and social transformation across the communities we serve. The addition of SBI Life to our portfolio of insurance partners enhances our ability to offer customers a wider range of competitive, need-based life insurance solutions, enabling them to choose products best suited to their unique financial needs.”
“By bringing together the strengths of two trusted institutions, this collaboration further reinforces our customer-centric approach and enhances our ability to deliver greater value through the Bank’s extensive network across the country. It also builds upon the enduring trust that J&K Bank has nurtured over decades, beginning in its core geographies of Jammu & Kashmir and Ladakh and extending across its operational footprint nationwide,” he added.
Speaking on the partnership, MD & CEO, SBI Life Insurance, Amit Jhingran said, “At SBI Life, our purpose is rooted in helping individuals and families build financial resilience and approach the future with greater confidence. Our partnership with J&K Bank reflects a shared commitment to deepening insurance awareness and strengthening the culture of financial protection for households across the nation”.
He further added, “Life insurance plays a critical role in ensuring financial continuity and safeguarding family aspirations. This collaboration will further reinforce its importance in everyday financial planning. We are proud to support the national vision of ‘Insurance for All by 2047’ and contribute meaningfully to building a financially secure society.”
The collaboration aims to make insurance solutions easier to access and understand for the customers while encouraging them to integrate financial protection into their broader savings and long-term planning. The partnership also aligns with the Insurance Regulatory and Development Authority of India’s vision of ‘Insurance for All by 2047’ and seeks to contribute towards greater insurance awareness, financial inclusion, and long-term financial security.
Through this association, J&K Bank and SBI Life will jointly undertake initiatives to enhance insurance awareness and help customers make informed choices for protecting their families, securing future aspirations, and preparing for different stages of life.
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