IDBI Federal Life Insurance builds a new partnership with the Cricket Association of Bengal (CAB)
Kolkata, IDBI Federal Life Insurance has announced its partnership with the Cricket Association of Bengal (CAB) to strengthen state’s cricket endeavors. Sourav Ganguly at the helm of affairs as the youngest ever president and taking charge of the Cricket Association of Bengal (CAB), has already created a roadmap to reinvigorate the state’s cricket dynamics. And with this association, the Vision 2020 project will establish to hone meritorious talent and develop them into high-class players to play for the national side.
Speaking on this association, Sourav Ganguly, President – the Cricket Association of Bengal (CAB) said, “Bengal cricket in the last couple of years has been making steady efforts to build a supply line of national team players. The most significant of these projects is the ‘Vision 2020’ which has in its fold eminent cricketers like VVS Laxman, Muttiah Muralitharan, TA Sekhar to change the face of Bengal cricket. We are glad that IDBI Federal Life Insurance understands the importance of such initiatives. Like us, they too believe, the assurance and support it needs to hone upcoming cricketers. I would like to thank IDBI Federal Life Insurance for coming forward and partnering with us to continue making this a grand success.”
On this occasion, Vighnesh Shahane, CEO of IDBI Federal Life Insurance said, “Sports has always been a force for good. IDBI Federal Life Insurance’s vision is to inspire positive change that helps people shape a better future and live their best lives. Bengal cricket is going through dynamic changes and the different projects that the association has undertaken just add to the vibrant spirit of the game. We are happy to be a part of the CAB’s ambitious journey- it promises to bring about positive changes for the game of cricket at the national as well as international levels. I am confident that this association will be a stepping stone for the stars of tomorrow. We are truly excited about this collaboration and would like to thank the CAB for selecting us as their partners in this journey.”
IDBI Federal Life Insurance will sponsor all age group teams from the CAB for various domestic cricket tournaments, including Ranji matches.
About IDBI Federal Life Insurance
IDBI Federal Life Insurance is one of India’s growing life insurance companies and offers a diverse range of wealth management, protection and retirement solutions to individual and corporate customers.
IDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe.
Having commenced operations in 2008, IDBI Federal was able to achieve breakeven within just 5 years; the Company’s passion for innovation and growth helped it achieve this feat.
Through a nationwide network of 2, 964 branches of IDBI Bank and Federal Bank, and a sizeable network of advisors and partners, IDBI Federal Life Insurance has achieved presence across the length and breadth of the country. As on March 31, 2015, the company has issued nearly 7.88 lakh policies with a sum assured of over Rs. 41,856 crore. IDBI Federal Life Insurance has total assets under management of 4,087 crore and a robust capital base of over 800 crores, as on March 31, 2015.
About the sponsors of IDBI Federal Life Insurance Co Ltd
IDBI Bank Ltd. continues to be, since its inception, India’s premier industrial development bank. It came into being as on July 01, 1964 to support India’s industrial backbone. Today, it is amongst India’s foremost commercial banks, with a wide range of innovative products and services, serving retail and corporate customers in all corners of the country from 1717 branches and 3000 ATMs. The Bank offers its customers an extensive range of diversified services including project finance, term lending, working capital facilities, lease finance, venture capital, loan syndication, corporate advisory services and legal and technical advisory services to its corporate clients as well as mortgages and personal loans to its retail clients. As part of its development activities, IDBI Bank has been instrumental in sponsoring the development of key institutions involved in India’s financial sector – National Stock Exchange of India Limited (NSE) and National Securities Depository Ltd, SHCIL (Stock Holding Corporation of India Ltd), CARE (Credit Analysis and Research Ltd).
Federal Bank is one of India’s leading private sector banks, with a dominant presence in the state of Kerala. It has a strong network of over 1,247 branches and 1,485 ATMs spread across India. The bank provides over four million retail customers with a wide variety of financial products. Federal Bank is one of the first large Indian banks to have an entirely automated and interconnected branch network. In addition to interconnected branches and ATMs, the Bank has a wide range of services like Internet Banking, Mobile Banking, Tele Banking, Any Where Banking, debit cards, online bill payment and call centre facilities to offer round the clock banking convenience to its customers. The Bank has been a pioneer in providing innovative technological solutions to its customers and the Bank has won several awards and recommendations.
Ageas is an international insurance group with a heritage spanning 190 years. Ranked among the top 20 insurance companies in Europe, Ageas has chosen to concentrate its business activities in Europe and Asia, which together make up the largest share of the global insurance market. These are grouped around four segments: Belgium, United Kingdom, Continental Europe and Asia and served through a combination of wholly owned subsidiaries and partnerships with strong financial institutions and key distributors around the world. Ageas operates successful partnerships in Belgium, the UK, Luxembourg, Italy, Portugal, Turkey, China, Malaysia, India and Thailand and has subsidiaries in France, Hong Kong and the UK. Ageas is the market leader in Belgium for individual life and employee benefits, as well as a leading Non-Life player through AG Insurance. In the UK, Ageas is the sixth largest Non-Life insurer with a number 3 position in cars insured and has a strong presence in the over 50’s market. Ageas employs more than 13,000 people in the consolidated entities and over 30,000 in the non-consolidated partnerships, and has annual inflows of more than EUR 23 billion.