AU Small Finance Bank enters into strategic corporate agency partnership with SBI Life Insurance

Shares of AU Small Finance Bank closed 1.5% higher on the NSE at ₹752 apiece after the bank announced strategic partnership with SBI Life Insurance.

AU Small Finance Bank (AU SFB) has entered a strategic corporate agency partnership with SBI Life Insurance, among India’s most trusted life insurers. This collaboration aims to enhance access to comprehensive insurance solutions nationwide, supporting the government’s ‘Insurance for All by 2047’ mission by extending financial protection to underserved and emerging markets across India.

With this alliance, AU SFB will distribute SBI Life’s comprehensive portfolio of life insurance solutions, including protection, savings & investments, child, money back, retirement etc. across its robust network of over 2,505 banking touchpoints in 21 states and 4 union territories. This integration will enable customers to meet diverse protection and long-term financial planning needs through a unified banking and insurance experience.

With SBI Life’s expertise in driving insurance adoption and delivering trusted protection solutions, the partnership with AU SFB further strengthens its outreach efforts in urban, semi-urban and rural markets. The collaboration will also leverage AU’s digital platforms and customer engagement channels to deliver a simplified, transparent, and accessible insurance journey.

AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused nonbanking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.