City Union Bank ties up with AMP Sanmar

Saturday 19, November, 2005 In a move to increase its clientele base, City union bank has launched a recurring deposit scheme, which is tied up with life insurance, demat account and income tax returns processing services. To offer insurance products, the bank has tied up with AMP Sanmar, which has now been taken over by Reliance Life Insurance. The company has plans to achieve 1 million clients by the year-end 2006. The former AMP Sanmar Life Insurance Company has over 90 offices nationwide, 9000 agents and more than 900 employees. However the bank is awaiting IRDA?s approval to change the name of AMP Sanmar to Reliance Life Insurance.

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