RBL Bank and LIC announce tie-up for Bancassurance business

Shares of RBL Bank and LIC of India are in focus as they announce a partnership for the bancassurance business. Shares of RBL Bank are under selling pressure as they traded at 1.5% lower on Tuesday afternoon, while the LIC of India share price traded in green with 0.6% gains.

The exchange filing by RBL Bank read, “RBL Bank, one of India's leading private sector banks, today announced that it has entered into a bancassurance partnership with Life Insurance Corporation of India (LIC), the country’s largest life insurer. This strategic collaboration will enable RBL Bank customers to access LIC’s comprehensive range of life insurance products through the Bank’s extensive branch network and digital channels”

It further added, “The formal tie-up was announced in the presence of senior officials from LIC of India and RBL Bank Ltd. The partnership underscores the shared commitment of both institutions to expand financial protection and strengthen insurance penetration across India”.

Through this collaboration, RBL Bank customers will be able to avail of LIC’s diverse product portfolio covering term plans, endowment policies, pension and unit-linked insurance plans. Through the combined strength of a vast network of more than 3600 Branches and Satellite Offices of LIC and over 2000 touchpoints of RBL Bank, including nearly 570 branches and 1474 business correspondent branches, the penetration of life insurance across the country would be made easier, and this will go a long way towards the vision of “Insurance for all by 2047”.

With this collaboration, both institutions reaffirm their commitment to promoting financial inclusion and delivering the best insurance solutions across India.

Contrary to broader market weakness, shares of RBL Bank are trading 75% higher in 2025 on a YTD basis. While shares of LIC of India traded largely unchanged in the same period.