AU Small Finance Bank (AU SFB) has signed a corporate agency partnership with SBI Life Insurance.
The collaboration aims to enhance access to comprehensive insurance solutions across the nation, supporting the government’s “Insurance for All by 2047” mission by bringing financial protection to underserved and emerging markets.
The partnership enables AU SFB to distribute SBI Life’s extensive portfolio of life insurance products—ranging from protection, savings and investments to child plans, money-back policies, and retirement solutions—through its network of over 2,505 banking touchpoints across 21 states and four union territories.
This integration is expected to provide customers with a unified experience for both banking and long-term financial planning.
The agreement was formally signed by Dilip K. Vidyarthy, Head of Bancassurance & Cross-Sales at AU Small Finance Bank, and Ashwini Kumar, Regional Director – Mumbai Metro at SBI Life Insurance, in the presence of senior leadership from both organizations including Gireesh Thampy, EVP & Chief of Institutional Alliances, SBI Life.
Uttam Tibrewal, Executive Director and Deputy CEO, AU SFB highlighted, “We believe financial security is a fundamental right, not a privilege. This collaboration with SBI Life allows us to deliver reliable and need-based insurance solutions to communities across India, helping secure a better tomorrow for millions.”
Echoing this sentiment, Abhijit Gulanikar, President – Business Strategy, SBI Life Insurance, said, “Our partnership with AU SFB is a strategic step towards expanding insurance penetration across India. AU’s rural reach and community connect will help us make protection more accessible, one household at a time.”
The collaboration will also leverage AU’s digital platforms and customer engagement tools to deliver a more simplified, transparent, and inclusive insurance experience for customers.
As of June 30, 2025, AU Small Finance Bank serves over 1.15 crore customers and manages a balance sheet exceeding Rs 1.60 lakh crore. It is supported by a workforce of over 53,000 employees and has a deposit base of Rs 1,27,696 crore with a loan portfolio of Rs 1,17,624 crore.
The bank is listed on NSE and BSE and is rated ‘AA/Stable’ by CRISIL Ratings, ICRA Ltd., CARE Ratings, and India Ratings.
SBI Life Insurance, with a strong network of over 1,146 offices and 253,799 agents, reported assets under management (AuM) of Rs 4,758.1 billion as of June 30, 2025. The company has also made significant CSR contributions, reaching over 53,000 direct beneficiaries in the previous financial year.
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