Reliance Capital arm, YES Bank in bancassurance agreement

Reliance General Insurance, has signed a comprehensive bancassurance-corporate agency agreement with YES Bank. YES Bank with its network of 1,040 branches across all 29 States and seven Union Territories will enable Reliance General Insurance to reach a large base of retail and MSME clients. This is the first partnership signed by YES Bank since the open-architecture norms under the corporate agency regulations were introduced by the IRDAI in April 2016. Rana Kapoor, Managing Director, YES Bank, said in a statement: “With this alliance, we remain committed to leveraging our pan-India branch network to capitalise on the immense opportunities in the Indian bancassurance market.” Anmol Ambani, Executive Director, Reliance Capital, said: “We are delighted to tie up with a fast-growing and customer-centric partner like YES Bank.”