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  • Royal Sundaram inks Bancassurance tie-up with City Union Bank

    Published on July 25, 2022

    Comprehensive suite of RS general insurance products to be available to customers across 727 City Union Bank Branches

    Chennai : Royal Sundaram General Insurance Co. Limited, India’s first private sector general insurance company, post liberalization in 2000, today entered into a Bancassurance partnership with City Union Bank, a fast-growing private sector bank headquartered in Kumbakonam, Tamil Nadu. This arrangement will enable the customers of the Bank to have easy access to a comprehensive suite of best-in-class general insurance products from Royal Sundaram across its 727 Branches.

    Commenting on the partnership, M.S. Sreedhar, Managing Director, Royal Sundaram General Insurance Co. Limited, said, Being the pioneers in Bancassurance model, it has enabled us to understand a wide spectrum of consumer needs in a much more granular way. These learnings have helped to design better products – including the much-acclaimed ‘Lifeline’ suite of health insurance solutions.  We are happy to partner with City Union Bank – one of the well-known and much respected banks built on strong ethics and values –  and embark on a journey of empowering its customers through comprehensive, customised and affordable general insurance products.  He further said that the company will be singularly focussed on meeting the needs of our customers at a time when the value of insurance has never been greater”.

    Royal Sundaram’s general insurance products bouquet include Health, Motor, Personal Accident, and Travel, as well as Home Insurances in Retail and insurance against Fire, marine, industrial and other risks under Commercial lines.

    Further he stated that there is a perfect alignment between the partners given their strong values, pedigree and potential and this collaboration would be in the interest of customer base of CUB and for the long-term mutual benefit of the two organizations.

    Speaking on the occasion, Dr. N Kamakodi, MD & CEO, City Union Bank, said, “City Union Bank is working towards fulfillment of its philosophy of serving its customers by providing elaborate insurance product lines. This tie up with Royal Sundaram is an endeavour in that direction.  Being a reputed player in the market with a fair, transparent and customer centric approach with a highly recommended product suite, we welcome Royal Sundaram into the City Union Bank’s network. It brings us one step closer to becoming a one stop shop (point) for all financial needs of our customers. It’s a big leap for us and we will certainly be able to fulfill the Non-Life Insurance needs of our customers. We are confident that this arrangement will help our customers to have access to a bouquet of insurance products, which will help them tide over all ups and downs.”

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