IDBI Fortis :

IDBI, India's leading development and commercial bank is joined by the Federal Bank, the country's premier private sector bank and Fortis, Europe's premier Bancassurer signed a joint venture in order to form IDBI Fortis Life Insurance.

IDBI holds the largest stake in the newly formed company with 48% while Federal Bank and Fortis each have 26% worth of the total equity.

It was just in March 2008 when the joint venture was given approval by the Insurance regulatory Development Authority to officially operate. Although still new in terms of business operation, IDBI Fortis Life Insurance already has the expertise of the three leading financial services worldwide.

They aim to provide the best value and convenience for all customers through the nationwide network already established by the branches of IDBI Bank and the Federal Bank.

IDBI Bank expanded to 538 branches all over India offering diversified services such as term lending, project financing, working capital facilities, venture capital loan syndication and lease finance.

Corporate clients can get corporate advisory, legal and technical services while retail clients have the option to go for mortgages and personal loans.

The 600 branches of Federal Bank are put up to provide superb service to its over 4 million retail customers. It is the first bank in India to have entirely interconnected branch networks.

Because of this, they offered the first top of the line technological services like internet banking, tele banking, mobile banking, anywhere banking, debit card online bill payment and call center facilities.

Fortis is the leader in life and non-life insurance in Belgium. It distributes its insurance products in various countries abroad through the network of Fortis Bank and its independent insurance brokers.

IDBI Fortis Life Insurance aims to add value to their client's lives by being the leading provider of wealth management, protection and retirement solutions.