Axis Bank, a private sector lender, is planning to expand its business of distributing life insurance policies through a tie-up with one more insurer. The bank currently has a partnership with Max Life and LIC. The present rule allows an open architecture with up to three insurers.
As for general insurance space, the bank has an alliance with Tata AIG. In healthcare insurance, where penetration is low, it has a tie-up with Apollo Health Insurance.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.