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SBI to finalize insurance partner

State Bank of India would finalise its non-life insurance partner soon

Apnainsurance.com Research Bureau

01 May 2008

State Bank of India (SBI) is in a process of finalising its non-life insurance partner soon. Few names have been short-listed and partner for the venture will be finalized soon. 

Then memorandum of understanding (MoU) would be signed.

SBI has reportedly short-listed 3 out of 9 partners. Among the partners are Australia's IAG (Insurance Australia Group) and one each from Germany and USA. 

The venture is expected to mainly focus on SBI's corporate clients. The partners in the venture are expected to bring in non-life insurance experience for the mature and emerging market, knowledge, risk management, systems and technology.