PRNewswire
Mumbai (Maharashtra) [India], August 4: SBI Life Insurance, among India’s most trusted life insurers, has entered a strategic corporate agency partnership with AU Small Finance Bank, the country’s largest Small Finance Bank. 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.
* In line with government’s mission of ‘Insurance for All by 2047’, the partnership aims at deepening insurance penetration across the country
The agreement was signed by Mr. Dilip K. Vidyarthy, Head of Bancassurance & Cross- Sales, AU Small Finance Bank and Mr. Ashwini Kumar Regional Director- Mumbai Metro, SBI Life Insurance in presence of Mr. Gireesh Thampy, EVP & Chief of Institutional Alliances, SBI Life Insurance and other respected dignitaries from both the organisations.
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 proven expertise in driving insurance adoption and delivering trusted protection solutions, the partnership with AU SFB further strengthens our outreach efforts–especially across rural and semi-urban markets. The collaboration will also leverage AU’s digital platforms and customer engagement channels to deliver a simplified, transparent, and accessible insurance journey.
Mr. Uttam Tibrewal, Executive Director and Deputy CEO, AU Small Finance Bank said, “At AU Small Finance Bank, we believe financial security is a fundamental right, not a privilege. This partnership with SBI Life Insurance reinforces our shared commitment to delivering reliable, need-based insurance solutions to diverse communities across urban and semi-urban areas of India. By combining the strengths of both institutions, we aim to drive true financial inclusion and secure a better tomorrow for millions.”
Mr. Abhijit Gulanikar, President – Business Strategy, SBI Life Insurance said, “Our partnership with AU Small Finance Bank is a strategic step towards deepening insurance adoption across India. At SBI Life, we’re committed to liberating individuals by securing their families’ financial futures. AU’s strong rural reach and community connect bring us closer to the shared vision of ‘Insurance for All by 2047’, making protection more accessible–one household at a time.”
About AU Small Finance Bank:
AU Small Finance Bank Limited (AU SFB), a Scheduled Commercial Bank, is India’s largest Small Finance Bank. Founded in 1996 by first-generation entrepreneur Mr. Sanjay Agarwal, AU began its banking operations in April 2017 and enters its 30th year with a legacy of building a sustainable and inclusive financial institution focused on serving underserved and under-reached communities through a robust retail banking model. With deep customer insight across Bharat, AU SFB offers a full suite of banking services including deposits, loans, credit cards, premium banking, remittances, merchant solutions, insurance, and investments. As a tech-led bank, it provides innovative digital experiences through offerings like 24×7 Video Banking, WhatsApp Banking, Chatbots, UPI QRs, and the award-winning AU 0101 app. AU SFB serves over 1.15 crore customers through 2,505+ banking touchpoints across 21 states and 4 union territories, supported by a workforce of 53,000+. As of June 30, 2025, the Bank’s Shareholders’ Funds stood at ₹17,800 crore, with a Deposit Base of ₹1,27,696 crore, Loan Portfolio of ₹1,17,624 crore, and a Balance Sheet of over ₹1.60 lakh crore.AU SFB is listed on NSE and BSE and is rated ‘AA/Stable’ by CRISIL Ratings, ICRA Ltd., CARE Ratings, and India Ratings. Its Fixed Deposits are rated ‘AA+/Stable’ by CRISIL. For more information, visit: www.aubank.in 
About SBI Life Insurance:
SBI Life Insurance (‘SBI Life’ / ‘The Company’), one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions. Driven by ‘Customer-First’ approach, SBI Life places great emphasis on maintaining world class operating efficiency and providing hassle-free claim settlement experience to its customers by following high ethical standards of service. Additionally, SBI Life is committed to enhance digital experiences for its customers, distributors and employees alike. SBI Life strives to make insurance accessible to all, with its extensive presence across the country through its 1,146 offices, 27,040 employees, a large and productive network of about 253,799 agents, 62 corporate agents and 9 bancassurance partners with more than 41,000 partner branches, 150 brokers and other insurance marketing firms. In addition to doing what’s right for the customers, the company is also committed to provide a healthy and flexible work environment for its employees to excel personally and professionally. SBI Life strongly encourages a culture of giving back to the society and has made substantial contribution in the areas of child education, healthcare, disaster relief and environmental upgrade. In 2024-25, the Company touched over 53,000 direct beneficiaries through various CSR interventions. Listed on the Bombay Stock Exchange (‘BSE’) and the National Stock Exchange (‘NSE’), the company has an authorized capital of Rs. 20.0 billion and a paid-up capital of Rs. 10.0 billion. The AuM is Rs. 4,758.1 billion. For more information, please visit our website- www.sbilife.co.in and connect with us on Facebook, Twitter, YouTube, Instagram, and LinkedIn. (Numbers & data mentioned above are for the period ended June 30, 2025)
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