SBI General Insurance has laid plans of expanding its presence in Andhra Pradesh by coming up with a new branch in Tirupati.
The new branch will be SBI General's third branch in Andhra Pradesh. It has a total of 27 branches across India.
The branch was inaugurated by Mr. Rakesh Sharma, General Manager of State Bank of India, Hyderabad circle.CEO & MD of SBI General Insurance, Mr. Bhaskar J Sharma said, "We see a good opportunity in serving the needs of the industries by providing customized insurance solutions".
In the first half of the current fiscal, SBI General has achieved its premium income of Rs 295.86 crore. Now it is planning to offer motor, personal accident and health insurance to the corporate customers in the region.
In a press release SBI General said that as it works closely with SBI and its associate banks, it can easily serve in the south Andhra Pradesh. And it also has a growing network of agents.