Gurugram, 8th October 2025 : Pramerica Life Insurance, one of India’s fastest growing
life insurers, has entered into a strategic bancassurance partnership with
Equitas Small Finance Bank (ESFB). The collaboration is aimed at strengthening
Pramerica Life’s distribution network and extending life insurance access to
families across India—from metropolitan centres to rural heartlands.

Through this partnership, Pramerica Life will leverage
Equitas’s extensive network of nearly 1,000 outlets and 375 ATMs to offer a
comprehensive suite of retail and group life insurance solutions. The product
portfolio will include life, savings, and health-focused plans, along with Unit
Linked Insurance Plans (ULIPs) that combine investment opportunities with
insurance benefits.

The partnership will be implemented in phases and will also
extend to microfinance and loan protection segments, thereby addressing the
financial security needs of a broad customer base.

With a customer base of over 2.5 million across 18 states
and a robust deposit franchise, Equitas Small Finance Bank provides Pramerica
Life with a strong platform to reach both urban and rural customers, including
self-employed, salaried, and underserved segments.

Aligned with the Insurance Regulatory and Development
Authority of India’s (IRDAI) vision of “Insurance for All by 2047”, this
collaboration leverages the combined strengths of banking and insurance to
advance financial inclusion and enhance insurance penetration in India.

This partnership holds particular significance in southern
India—especially Tamil Nadu, Karnataka, and Kerala—where Equitas has a
deep-rooted presence. Customers in these regions will now have convenient
access to tailored life insurance, savings, and investment-linked solutions
that address their evolving financial goals.

Speaking on the partnership, Mr. Pankaj Gupta,
MD & CEO, Pramerica Life Insurance, said:
“This collaboration marks an important milestone
in Pramerica Life’s journey to expand its distribution reach and bring
insurance solutions closer to customers. With Equitas’s strong presence across
urban and rural markets and their deep customer relationships, we are confident
of delivering holistic financial solutions that combine the trust of banking
with the security of insurance. Together, we aim to further the cause of
financial inclusion by empowering millions of customers with products that help
them secure their financial future.”

Commenting on the collaboration, Mr. Murali
Vaidyanathan, Senior President & Country Head Liabilities, Wealth
Management & Digital Banking, Equitas Small Finance Bank, said:
“We are delighted to partner with Pramerica Life
Insurance, a leading name in the life insurance industry, to offer their range
of life insurance solutions across our multiple customer touchpoints. Staying
true to our bank’s core value – ‘Customer First’, we believe this partnership
will empower our customers with access to a diverse range of products and
services, helping them achieve their financial aspirations.”

This partnership underscores Pramerica Life’s strategy of
diversifying distribution channels through bancassurance while complementing
its proprietary retail and agent-led channels. It also highlights the company’s
commitment to underserved segments, driving insurance adoption in semi-urban
and rural areas by offering convenient and bundled financial solutions that
combine banking and insurance.