Chennai, July 2025
AU Small Finance Bank (AU SFB), India’s largest Small Finance Bank, has announced a strategic partnership with Life Insurance Corporation of India (LIC), the country’s largest life insurer. The collaboration supports the national vision of ‘Insurance for All by 2047’, aimed at deepening insurance penetration and financial protection across India’s underserved population.
Under this tie-up, AU SFB will distribute LIC’s comprehensive portfolio of life insurance solutions, including term insurance, endowment plans, whole life policies, pension and annuity products, and child-specific plans catering to a broad spectrum of protection and retirement needs. These offerings will be available across AU SFB’s 2,456+ banking touchpoints in 21 states and 4 union territories, significantly expanding LIC’s reach into rural and semi-urban regions.
Uttam Tibrewal, Executive Director and Deputy CEO, AU Small Finance Bank, said: “This strategic partnership brings together two institutions committed towards providing inclusive financial services to unserved and underserved. By leveraging our distribution strength and LIC’s trusted insurance products, we aim to provide comprehensive protection and retirement solutions to customers across Bharat and enhance comprehensive banking experience.”
The partnership enhances AU SFB’s position as a full-spectrum financial services provider, integrating banking, protection, and long-term financial planning under one umbrella. For LIC, it represents a strategic move to expand access through credible, customer-focused banking partners.
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