State Bank of Mysore, an associate Bank of State Bank of India, has entered into a corporate agency agreement with the SBI General Insurance for marketing its general insurance policies through State Bank of Mysore`s branch network.
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The corporate agreement was signed in presence of Hamsini Menon, managing director, State Bank of Mysore and R R Belle, MD & CEO, SBI General Insurance at State Bank Of Mysore`s Head Office in Bangalore today.
On the occasion of signing the corporate agency agreement, Hamsini Menon, managing director of the bank said, “We are delighted to have a tie up with SBI General as our business partner for General Insurance. We look forward to the customers` delight through quality service that SBI General would bring in; the focus would also be on enhancing the existing client base. This is a memorable event and I am sure that the consequent coordinated efforts this MOU brings in, will significantly contribute towards achieving our goals.“
Speaking on the occasion, Belle said “With nearly 68 Lakh accounts across 737 pan-India branches, State Bank of Mysore (Q,N,C,F)* will provide us enormous scope for catering to the diverse Insurance requirements of its business as well as Individual customers. We look forward to launching customized policies for the bank customers in due course of time. With offices in 25 cities and with plans for another 25 branches in the next few months, SBI General is well positioned to support State Bank of Mysore`s pan India branch network.“
Shares of the company declined Rs 14.4, or 3.16%, to settle at Rs 441.95. The total volume of shares traded was 301 at the BSE (Monday).
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