TAMILNAD MERCANTILE BANK AND BAJAJ ALLIANZ LIFE INSURANCE ENTER INTO STRATEGIC PARTNERSHIP

• Bank to sell term, annuity and other value-packed Bajaj Allianz Life products across their 500+ branches

Chennai, 9 December 2022: Tamilnad Mercantile Bank, a leading private sector bank, and Bajaj Allianz Life Insurance, one of India’s leading private life insurers, announced their strategic partnership, today in Chennai. Mr. S Krishnan, MD & CEO, Tamilnad Mercantile Bank and Mr. Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance signed the agreement and announced their strategic partnership, at an event, earlier this evening.

Mr. S. Krishnan, MD & CEO, Tamilnad Mercantile Bank Limited (TMB) said, “On getting listed in the Stock Exchanges, Tamilnad Mercantile Bank Ltd., is back to enrich our vision in expanding the network PAN India, with added features in the products and services. We feel that this tie-up launching function is a momentous occasion for the Bank.”

Speaking on the partnership, Mr. Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, “We are pleased to enter in to a partnership with Tamilnad Mercantile Bank, a prestigious brand in South India. I’m happy to share that we are aligned across several business parameters, the most essential being fulfilling customers’ long-term financial goals through simple yet effective products, in a seamless and transparent manner. I’m confident that this collective synergy will enable us to build on a long-lasting partnership, which will also benefit everyone within our eco-system.”

Through this partnership, new and existing customers of the Bank can now choose from Bajaj Allianz Life’s retail products including term, savings, retirement, and investment products. This will help them achieve their life goals in a planned manner. Furthermore, the life insurer will also work closely with the Bank to offer seamless service options to the customers. This includes response on queries using Whatsapp, or self-service option like the Bajaj Allianz Life LifeAssist App, along with well-trained Bank staff managing the life insurance business.

About TamilNad Mercantile Bank (www.tmb.in)

Tamilnad Mercantile Bank Limited (TMB), one of the renowned Old Private Sector Banks having its Head Quarter in Thoothukudi, Tamilnadu. It has a long cherished history of 100+ years of eventful existence with strong fundamentals and an enviable track record of continuous profit making in the industry. TMB is having pan India presence with 509 branches and 12 Regional Offices across 16 states and 4 Union Territories serves more than 5 million delighted customers.

For more information, please visit the company’s website at www.tmb.in

About Bajaj Allianz Life Insurance

Bajaj Allianz Life Insurance is one of India’s leading and fastest growing private life insurers. The company is a partnership between two powerful and successful entities in their own right – Bajaj Finserv Limited, one of India’s most diversified non-banking financial institution and Allianz SE, one of the world’s leading asset manager and insurer.

Commencing its operations in 2001, Bajaj Allianz Life has expanded its presence across the country. It serves millions of customers through its 509 branches, 112,150+ agents (as on 30 September 2022), comprehensive set of trusted partners and its online sales channel. The Company’s brand promise of Life Goals.Done. drives it to launch innovative insurance solutions, backed by a robust set of digital assets. Bajaj Allianz Life Insurance has constantly transformed to offer tech-enabled state-of-the-art services to enhance customer delight. The Company continues to engage with customers through several unique platforms such as Life Goals Mantras, Plankathon, and much more.