Jammu & Kashmir Bank has formed a new partnership with SBI Life Insurance, enabling distribution of a broader range of life insurance products through over 1,000 branches nationwide, with a focus on Jammu & Kashmir and Ladakh.
SBI Life Insurance and Jammu & Kashmir Bank have struck a corporate agency partnership that will put a wider range of life insurance products in front of customers across India, extending coverage through more than 1,000 bank branches. The tie-up will allow J&K Bank to distribute SBI Life’s protection, savings, retirement and child plans, with a particular focus on customers in Jammu & Kashmir and Ladakh.
According to the companies, the agreement was signed by Budhaditya Banerjee, regional manager for institutional alliances in the Chandigarh region, and Masood Ahmad Lankar, deputy general manager for cross-selling at J&K Bank. Santosh Chacko, president for business strategy at SBI Life Insurance, and Anita Nehru, general manager for DAC and cross-selling at J&K Bank, were present at the ceremony.
The move comes as banks in India increasingly lean on bancassurance to broaden fee income and offer more products without building them in-house. Separate market reports said J&K Bank’s insurance distribution strategy also includes a similar corporate agency arrangement with HDFC Life, effective July 2, 2026, underscoring the lender’s effort to deepen non-interest revenue and widen its financial products offering through its branch network.
SBI Life, which was set up in 2000 and is regulated by the Insurance Regulatory and Development Authority of India, says it operates a nationwide network of offices and agents. The latest partnership adds to its push to make life insurance more accessible through bank-led distribution, following similar bancassurance deals with other lenders.
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