LIC Ties Up With AU Small Finance Bank For Bancassurance Partnership

Life Insurance Corp. of India on Monday announced a bancassurance agreement with AU Small Finance Bank, marking a significant step in expanding its insurance distribution network.

Under the partnership, LIC’s extensive portfolio of life insurance products—including annuities, ULIPs, term plans, and savings-oriented policies—will be offered through AU Small Finance Bank’s more than 3,600 branches and its digital platforms.

“This collaboration will allow customers to access LIC’s trusted products conveniently through AU Small Finance Bank’s widespread reach,” the insurer said in a statement.

Headquartered in Jaipur, AU Small Finance Bank is currently the largest small finance bank in the country by assets. The tie-up is expected to deepen LIC’s penetration in semi-urban and rural markets, while enabling the bank to enhance its product offerings in the financial services space.