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LIC's bancassurance pact
HYDERABAD:
Life Insurance Corporation of India and Andhra Bank have entered into a strategic tie-up for developing Bancassurance. With this MoU, the bank will be able to offer LIC life insurance products through its branch network, according to R. N. Bharadwaj, Chairman of LIC. T. S. Narayanasami, Chairman and Managing Director, Andhra Bank, said the bank was aiming at securing a premium of Rs. 100 crores in the first year itself.
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