The Karnataka Bank Ltd, founded in 1924 and headquartered in Mangalore, has tied up with Universal Sompo General Insurance Co Ltd, to provide a health insurance scheme called 'K Family Care'.
Karnataka Bank Ltd. is one of the promoter-lenders of Universal Sompo.
A press release, quoting Mr P. Jayarama Bhat, Managing Director of Karnataka Bank, said that with the introduction of 'K Family Care', the private sector bank has made a value addition to its customers.
Mr O.N. Singh, Chairman of Universal Sompo General Insurance Co Ltd., said that his company had more than 75 general insurance products in its basket, and that it was catering to all the needs of its promoter-bankers such as Allahabad Bank, Indian Overseas Bank and Karnataka Bank Ltd.
Universal Sompo General Insurance Co. is a joint venture between Indian state-run lenders Allahabad Bank and Indian Overseas Bank with 30% and 19% stake, respectively, Karnataka Bank with 15% stake, non-banking partner Dabur with 10% stake, and Japan's Sompo Japan Insurance with 26% stake.