Reliance Nippon Life Insurance partners with Bank of Maharashtra

Reliance Nippon Life Insurance, a subsidiary of Reliance Capital, has signed a bancassurance-corporate agency agreement with Bank of Maharashtra.

The partnership will complement the bouquet of financial solutions including protection, savings and investment solutions that the bank offers to its customers. Whereas, the tie-up will enable Reliance Nippon to further its customer outreach with the help of over 1,880 branches of Bank of Maharashtra and strengthen its market position and expand bancassurance distribution.

Reliance Nippon Life Insurance is amongst the leading private sector life insurance companies in India. It is the largest non-bank supported private life insurer with over 10 million policyholders and a strong distribution network of over 700 branches.

On Monday, Reliance Capital closed at Rs. 522.55 per share, down Rs. 6.70 or 1.27 per cent on NSE. The scrip opened at Rs. 531.45 and touched a high of Rs. 537.80 and a low Rs. 519.75 per share on NSE. The stock attracted a traded volume of 40,40,700 shares on NSE.