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December 31, 2014

FGB, LIC International to launch insurance co-branded credit card in UAE

LIC International, a joint venture company of LIC of India, has entered into a strategic alliance with First Gulf Bank (FGB) to introduce a co-branded credit card with a unique loyalty offering for their customers in the UAE.

By Verdict Staff

LIC International, a joint venture company of LIC of India, has entered into a strategic alliance with First Gulf Bank (FGB) to introduce a co-branded credit card with a unique loyalty offering for their customers in the UAE.

Through the alliance, the bank will provide a payment solution to the issues concerning adhoc surcharges levied by insurance companies on premium payments through cards in the UAE besides developing a loyalty platform for their common customers.

LIC (International), which was established in Bahrain in 1989 by LIC of India, will offer value added services, protection and saving products to the residents of UAE, via the agreement.

LIC International CEO and managing director Rajesh Kandwal said: "In the coming weeks residents will see that FGB and LIC International are both continuing to work towards ‘Insuring Lives. Ensuring Happiness’. Our customers should look forward to receiving a range of important features and benefits with their co-branded credit card."

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