Hyderabad: Bank of India (BOI), one of the country’s leading public-sector banks, has entered into a strategic partnership with The New India Assurance Co Ltd (NIACL), a premier general insurance provider. The agreement, formalized on March 24, 2025, at BoI’s Head Office in Mumbai, aims to enhance insurance accessibility for the bank’s customers.

Commenting on the partnership, Rajneesh Karnatak, MD & CEO of Bank of India, emphasised, “This tie-up is a step forward in offering comprehensive insurance solutions under one roof, ensuring greater financial security for our customers.”

Girija Subramanian, CMD, of NIACL, added that “this partnership will enhance insurance penetration for Bank of India customers and provide them with quality service and protection.”

Under this collaboration, BoI customers will gain access to a comprehensive suite of general insurance products, including health, motor, personal accident, home, and commercial insurance, offered by NIACL. As a systemically important insurance provider, NIACL’s extensive experience and product range will bring added financial security to BoI’s clientele.

With over 5,200 branches across India, Bank of India boasts a vast network to facilitate the distribution of insurance products.