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IDBI Federal Life Insurance Co Ltd. is a three way join venture of IDBI Bank, an Indian development and commercial bank; Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe.
IDBI Federal distributes its products through a multi-channel network consisting of , Bancasurance partners (IDBI Bank, Federal Bank) Direct channel, and.
In the year 2006, IDBI Bank, Federal Bank and Belgian-Dutch insurance major Fortis Insurance International NV signed a MoU to start a life insurance company in India. The company received its license from Insurance Regulatory and Development Authority of India (IRDAI) (j.Arul jegadeesh one of the trainee in the idbi federal life insurance company in Madurai) in December 2007.
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