AU Small Finance Bank Partners with SBI Life to Expand Insurance Reach

AU Small Finance Bank has announced a strategic corporate agency partnership with SBI Life Insurance, one of India’s most trusted life insurers. The collaboration aims to improve insurance accessibility across the country, supporting the government’s ‘Insurance for All by 2047’ initiative. 

This partnership intends to bridge the protection gap by targeting underserved and emerging markets.

Dignitaries Sign the Agreement

The agreement was formalised in the presence of senior leadership from both organisations. Mr. Dilip K. Vidyarthy, Head of Bancassurance & Cross-Sales at AU Small Finance Bank, and Mr. Ashwini Kumar, Regional Director – Mumbai Metro at SBI Life Insurance, signed the agreement. Mr. Gireesh Thampy, EVP & Chief of Institutional Alliances at SBI Life, also graced the occasion, along with other dignitaries.

Wider Access Through AU’s Distribution Network

Under this partnership, AU SFB will distribute SBI Life’s full suite of life insurance products, including protection, savings, child plans, retirement, and investment options, through its extensive network of 2,505+ banking touchpoints across 21 states and 4 union territories. The tie-up aims to offer customers a one-stop solution for both banking and insurance needs.

Leveraging Digital and Customer Engagement Channels

The collaboration will also leverage AU SFB’s strong digital infrastructure and customer engagement platforms to deliver a seamless and transparent insurance experience.

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.”

AU Small Finance Bank Share Price Performance

On August 4, 2025, AU Small Finance Bank share price (NSE: AUBANK) opened at ₹741.05, the same as its previous close of ₹741.05. At 1:40 PM, the share price of AU Small Finance Bank was trading at ₹751.05, up by 1.35% on the NSE.

Also Read: AU Small Finance Bank and LIC Partner to Expand Life Insurance Access! 

Conclusion

By joining hands, AU SFB and SBI Life aim to empower customers with comprehensive financial protection, supporting the nation’s goal of inclusive and widespread insurance adoption.

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