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UBI and LIC signs Corporate Agency Agreement

Published on July 24, 2020
Current Context: Union Bank of India (UBI) has signed a corporate agency pact with Life Insurance Corporation of India (LIC).
UBI and LIC signs Corporate Agency Agreement
  • The corporate agency agreement will allow UBI to distribute LIC Insurance products to its customers.
  • The agreement comes after the amalgamation of Union Bank of India with Corporation Bank and Andhra Bank.
  • Union Bank of India will offer LIC insurance products like pension plans, children plan, education plans, health insurance, ULIPs etc.
  • Static Part: 
    • HQ of LIC: Mumbai
    • Chairman of LIC: MR Kumar
    • HQ of UBI: Mumbai
    • MD and CEO of UBI: Rajkiran Rai G
    • Tagline of UBI: Good People to Bank with

Question: 

Q.1 Recently which bank signed corporate agency pact with LIC, to offer insurance products to the customers?
a. Punjab National Bank
b. State Bank of India
c. Allahabad Bank
d. Union Bank of India
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