Mumbai, India (CU)_ Liberty General Insurance was founded in 2013 and is a coalition of Liberty Citystate Holdings, which is a subsidiary of Liberty Mutual Insurance Group and a diversified global insurer based in the United States and operating more than 900 branches all over the world. The insurer employs more than 1100 people and operates in more than 100 sites across 28 Indian states.
Maharashtra Gramin Bank is a Maharashtra-based bank with its headquarters in Aurangabad. It is sponsored by the Bank of Maharashtra. It is Maharashtra’s largest Regional Rural Bank (RRB) and one of India’s 43 Gramin Banks, which is the government’s initiative to deliver banking services to rural areas. The 412 branches of the bank provide easy access to banking and financial services to the rural community.
One of India’s biggest general insurance businesses, Liberty General Insurance, has established a strategic partnership with Maharashtra Gramin Bank, the state’s largest regional rural bank. As a result of this major partnership, Liberty General Insurance will provide Maharashtra Gramin Bank customers with a wide variety of appropriate general insurance products, including health, two-wheeler, and motor insurance.
Liberty General Insurance CEO & director Mr Roopam Asthana expressed hopes about the new venture. He said, “Our partnership with Maharashtra Gramin Bank is an important milestone in our journey to offer our market-leading products through a trusted partner to a crucial segment of our country which has traditionally seen low insurance penetration. Our alliance with Maharashtra Gramin Bank will spearhead our expansion in Maharashtra and Liberty General Insurance Limited is deeply committed to providing the best service and products to the bank’s customers.’’
Chief official from Maharashtra Gramin Bank expressed optimism about the new partnership. He said, “We at Maharashtra Gramin Bank are confident that the Bancassurance partnership with Liberty General Insurance shall add value to the bank’s esteemed individual customers and solicit, procure and service retail lines of general insurance products and commercial lines products.”
