Shriram General Insurance Partners with Contai Co-Operative Bank to Expand Insurance Reach in Eastern India
Kolkata, August, 2025: Shriram General Insurance Company Ltd. (SGI), one of India’s leading general insurance providers and part of the 52 -year-old Shriram Group, has signed a Corporate Agency Agreement with Contai Co-operative Bank.
Through this partnership, SGI’s diverse portfolio of general insurance products — including motor, health, personal accident, GPA (Group Personal Accident policy), and other retail and commercial offerings — will now be available across Contai Co-operative Bank’s 16 branches. This tie-up is part of SGI’s broader strategy to drive insurance penetration among underserved communities and to provide accessible, affordable financial protection to a wider population. Contai is eastern India’s largest urban co-operative bank, with a legacy of over 80 years with a business turnover of over ₹2,000 crore.
Speaking on the tie-up Mr. Anil Aggarwal, MD & CEO, Shriram General Insurance said, “We are excited to partner with a trusted institution like Contai Co-operative Bank. This association strengthens our footprint in Eastern India and supports our mission of delivering affordable and accessible insurance to the last-mile population. Together, we aim to empower more people with essential financial protection and build long-term resilience.”
Mr. Apollo Ali, CEO, Contai Co-operative Bank Limited said, “Contai Co-operative Bank Limited has tied up with Shriram General Insurance Co Ltd for Bancassurance. The main focus of Bank remains to bring more customers under insurance coverage, to provide privilege to customers to get both insurance products and financial products under one roof. It would be a win-win situation for both. Customer’s satisfaction is more important, and we hope renowned Shriram group will provide the same.”
The partnership will focus on retail customers, MSMEs, and middle-income households. SGI is also exploring digital and tech-enabled integrations with the bank’s systems to streamline product access and servicing.
About Shriram General Insurance Company:
Shriram General Insurance Company (SGIC), jointly owned by Shriram Group and Sanlam Group, South Africa offers a complete range of general insurance products, ranging from motor, home and personal accidents and health in the retail space and customized products like fire, engineering, and marine Insurance in the corporate space. Shriram General Insurance manages assets worth Rs 13377 crore across with 68 lakh live policies. The company has 279 branches in 26 states and an employee strength of 4156 across India, as of June 2025.
About Shriram Group:
Shriram Group is India’s leading financial conglomerate with a dominant presence in retail financing, life insurance, general insurance, chit fund, stock broking, asset management, distribution of financial products, and wealth advisory services. The Group focuses on serving the underserved and is driven by its financial inclusion agenda of bringing finance to low-income families and small businesses. As of June 2025, Shriram Group has an overall customer base of over 3.43 crore, a marketing force of 1,79,000, manpower strength of over 1,16,400 comprising 4,675 branches and manages an AUM of Rs 3.50 lakh crore.
About Contai Co-operative Bank Limited:
Established in 1947, Contai Co-operative Bank Limited is the largest urban co-operative bank in Eastern India, trusted by over 82,000 members. Operating 16 branches across Purba Medinipur, Paschim Medinipur, Kolkata, and Hooghly. The Bank blends its rich legacy with modern banking solutions. With assets of over ₹2,013 crore, a net profit of ₹21.84 crore, and a CRAR of 27.16%, it stands for financial strength and stability. Fully Core Banking System (CBS)-enabled, the Bank offers services such as RTGS, NEFT, mobile banking, UPI, and 24×7 cash deposit facilities. Guided by its cooperative values, Contai Co-operative Bank remains committed to financial inclusion, innovation, and empowering individuals, businesses, and communities across the region.
