The Jammu & Kashmir Bank Limited signed two Corporate Agency Agreements on July 2, 2026 with SBI Life Insurance Company Limited and HDFC Life Insurance Company Limited. The agreements enable the bank to service and solicit insurance products of both life insurers through its branch network.
The agreements became effective immediately on the signing date. J&KBANK will distribute and service the insurance products of SBI Life Insurance and HDFC Life Insurance through its branch network across the country. The bank disclosed the agreements to both the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The bank holds no shareholding in either SBI Life Insurance or HDFC Life Insurance. The agreements do not confer any rights to appoint directors, special subscription rights in case of share issuance, or rights to restrict any change in capital structure. The transactions are not related party transactions, though arm's length terms will be maintained.
No shares have been issued to either party as part of these agreements. The agreements do not involve any nominee on the board of directors of J&KBANK. The agreements are Corporate Agency Agreements/Service Level Agreements for distribution and servicing of insurance products. J&KBANK will service and solicit the insurance products of both companies through its branches.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.