Ageas Federal Life Insurance and CSB Bank forge SME Bancassurance partnership

CSB Bank operates across 834 branches and 800 ATMs in India

Ageas Federal Life Insurance, one of India’s leading and fastest growing private life insurers, has announced a strategic SME Bancassurance Partnership with CSB Bank, to expand the reach of life insurance solutions among Small and Medium Enterprises (SMEs) and Individual entrepreneurs, on a pan India basis.

The strategic partnership would enable CSB Bank and Ageas Federal to serve customers with comprehensive financial solutions that combine credit, savings, and Life insurance. Through this collaboration, customers of CSB Bank, especially the Small and Medium Enterprises (SMEs) can access bespoke life insurance solutions designed to protect and safeguard the individual’s business continuity, wealth, and their families’ financial security.

CSB Bank operates across 834 branches and 800 ATMs in India. By integrating Ageas Federal’s innovative protection offerings within its suite of financial products such as home loans, business loans, and SME credit lines, CSB Bank aims to enable customers to build a comprehensive, protection-led financial journey.

Pralay Mondal, MD & CEO, CSB Bank, said: “We are pleased to partner with Ageas Federal Life Insurance to bring comprehensive protection options to our customers. Our bank has always focused on empowering SME customers with flexible and transparent financial services. This collaboration allows customers to integrate credit, savings, and insurance within their banking relationship, supporting long-term financial security.”

Mr. Jude Gomes, M.D. & CEO, Ageas Federal Life Insurance, said: “Ageas Federal Life Insurance is redefining the distribution space with innovative, first-in-market and digitally enabled solutions. We are constantly serving and addressing customers’ needs more effectively, towards this, our strategic partnership with CSB Bank marks a significant milestone in our Bancassurance growth journey - particularly for the SMEs and individual entrepreneurs in India. By combining CSB Bank’s deep-rooted customer trust and strong national presence along with our innovative customer centric solutions, we aim to serve clients with easy and superior insurance experiences.”

Ageas Federal–CSB Bancassurance partnership is said to be a key milestone for both entities as it is a step towards expanding life insurance reach. It ensures that customers, whether running a business, managing overseas income, or planning for family protection, can access integrated financial solutions under one roof.