CURRENT AFFAIRS

2019

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which bank has signed a bancassurance agreement with Aditya Birla Health Insurance Co Ltd (ABHICL) to provide Aditya Birla’s suite of insurance products to its customers?

A	Yes Bank
B	Axis Bank
C	Yes Bank
D	HDFC Bank

Explanation:

Detailed explanation-1: -Aditya Birla Health Insurance Co Ltd (ABHI), a standalone health insurer, has entered into a bancassurance partnership with IDFC FIRST Bank for distribution of health insurance products through the bank’s digital platform and its wide distribution network.

Detailed explanation-2: -Aditya Birla Health Insurance is a 51:49 joint venture between Aditya Birla Capital and Momentum Metropolitan Strategic Investments, a wholly owned subsidiary of South African based Momentum Metropolitan Holdings (together “MMH").

Detailed explanation-3: -ABHICL commenced its operations in October 2016 and is engaged in the business of health insurance. The company’s current product portfolio includes unique offerings including chronic care and incentivized wellness. In Q1 FY22, ABHICL recorded a gross written premium (GWP) of Rs.

Detailed explanation-4: -About Aditya Birla Health Insurance (ABCL), is a joint venture between Aditya Birla Group and MMI Holdings of South Africa. ABHICL was incorporated in 2015 wherein Aditya Birla Capital Limited (ABCL) and Momentum Metropolitan Strategic Investments (Pty) Limited (Formerly known as MMI Strategic Investments (Pty) Ltd.)

There is 1 question to complete.