In a significant move to enhance insurance accessibility and financial inclusion, Aditya Birla Sun Life Insurance Company Limited (ABSLI), a subsidiary of Aditya Birla Capital, has announced a strategic partnership with Equitas Small Finance Bank. The collaboration is poised to offer a broad spectrum of life insurance solutions to a wider customer base through Equitas' extensive branch network.
This alliance reinforces both institutions’ commitment to addressing the evolving financial needs of Indian consumers through a unified distribution platform.
Through this partnership, Equitas customers will gain direct access to ABSLI’s comprehensive portfolio of life insurance offerings. These include protection plans, savings plans, retirement solutions, endowments, and Unit Linked Insurance Plans (ULIPs).
The collaboration will also introduce newly launched products such as the Salaried Term Plan, Nishchit Aayush Plan, and Assured Savings Plan.
Kamlesh Rao, Managing Director and CEO of ABSLI, stated, “The partnership would help extend insurance expertise to more customers, aligning with the industry’s agenda of ‘Insurance for All by 2047.’”
This alignment with the broader national goal signals a strategic step in furthering the reach of insurance services, particularly among underserved and semi-urban communities.
Equitas Small Finance Bank will integrate ABSLI’s insurance plans into its offerings under an open market architecture model. This framework enables the bank to enrich its financial services suite by accommodating third-party insurance products, thereby offering greater value to its customer base.
Murali Vaidyanathan, Senior President and Country Head of Equitas Small Finance Bank, commented that the partnership would enhance the bank’s product offerings by integrating insurance plans through an open market architecture model.
As of 31 March 2025, ABSLI reported impressive figures, including ₹99,496 crore in assets under management and ₹20,639 crore in gross premium income. The company achieved a 10% year-on-year growth in individual business first-year premiums and operates through 430 branches nationwide.
ABSLI also maintains partnerships with 12 bancassurance firms and is supported by over 65,500 direct selling agents, serving more than 20 lakh active customers across India.
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As of May 23, 2025, at 1:25 PM, Equitas Small Finance Bank share price is trading at ₹64.37 per share with a surge of 0.16%. Over the past month, the stock has declined by 8.42%.
The collaboration between Aditya Birla Sun Life Insurance and Equitas Small Finance Bank marks a forward-looking step towards democratising access to life insurance in India. By leveraging each other’s strengths in insurance expertise and banking outreach, the partnership is set to offer comprehensive protection solutions that support long-term financial well-being for millions.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: May 23, 2025, 2:30 PM IST
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