Joint Venture – Star Union Dai-ichi Life Insurance Co. Ltd.
Union Bank of India is distributing Life Insurance products under corporate agency tie-up with Star Union Dai-Ichi Life Insurance Co. Ltd. (SUD Life Insurance)
which is a Joint Venture of Union Bank of India, Bank of India (two leading Public Sector Banks in India) & Dai-ichi Life Holding Inc., Japan (a leading Japanese Life Insurer in the Life Insurance market).
The Company has an authorized capital of Rs. 250.00 Crores. Consequent to increase in FDI limit in insurance sector, in terms of revised shareholding pattern,
shareholding of Union Bank of India, Bank of India & Dai-ichi Life Holding Inc. is 26%; 30%; 44% respectively.
Star Union Dai-ichi Life, with the strength of the domestic partners in the Indian financial sector coupled with Dai-ichi Life’s
strong domain expertise, is expected to become a strong player in the Indian Life Insurance market in the long run.
The Company offers various life insurance products to cater to the needs of different Customer Groups.