STRATEGIC ALLIANCE BETWEEN DOHA BANK AND LIFE INSURANCE CORPORATION - INTERNATIONAL
Doha Bank has announced the launch of a strategic Bancassurance alliance with Life Insurance Corporation (LIC) - International, Bahrain to market range of insurance, retirement and investment products in the State of Qatar, the region as well as the global market. These products will be available for all residents irrespective of their nationalities.
LIC (International) BSC (c) is a subsidiary of LIC of India, a corporation established through an act of Government of India and is having operations throughout GCC States. In a function held at the Head Office of Doha Bank, Mr. Seetharaman, CEO of Doha Bank and Mr. S. Roy Chowdhury, CEO & Managing Director of LIC (International) signed the MOU to market and distribute LIC (Intl) products in the State of Qatar.
Mr. Seetharaman, the CEO of Doha Bank, while launching the landmark alliance with LIC (International) said that this tie-up will bring in huge value addition that would benefit the customers as both Doha Bank and LIC (Intl) are more of a household name in the region. He also highlighted the commitment of Doha Bank in bringing exceptional products for its customers and added that the existing Doha Bank customers as well as non-customers can avail these products through Doha Bank.
Mr. AV Narayanan, Head of Bancassurance of Doha Bank said that LIC (Intl) product range is extremely attractive and flexible that would suit the budget of everyone. He further pointed out that the best features of these products are its portability, which is available to Indian Expatriates when they return to their home country. He further added that Doha Bank will offer a hassle free mechanism for payment of premium for its customers.
Mr. S. Roy Chowdhury, the CEO & Managing Director of LIC (International) Bahrain in his address expressed his delight for having associated with Doha Bank in Qatar and said that Doha Bank is their first Bancassurance Partner in the Middle East. He revealed that LIC products are well received by the residents and expatriates alike in the region and complimented Doha Bank for the deal. He further added that the entire product range of LIC (Intl) will be available through Doha Bank and will include Child Education plans, Retirement Plans, Term Insurance plans and Unit Linked products.
The function was attended by Mr. Manoj Kumar, Executive Manager, Doha Bank Assurance Company (DBAC), Mr. L Ajith Kumar, General Manager LIC (Intl) and Mr. D Vishnudev, Resident Manager, LIC (Intl) in Qatar besides key officials from Doha Bank and LIC (Intl).