Key Details
Date of Agreement: July 02, 2026
Effective Date: July 02, 2026
Regulatory Reference: SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Parties Involved
- SBI Life Insurance Company Limited
- HDFC Life Insurance Company Limited
Purpose of Agreements
The agreements are for servicing and soliciting insurance products of both SBI Life Insurance Company Limited and HDFC Life Insurance Company Limited through the branch network of Jammu and Kashmir Bank Limited.
Significant Terms
- Type: Corporate Agency Agreement/Service Level Agreement
- No rights to appoint directors
- No share subscription rights in case of issuance of shares
- No rights to restrict any change in capital structure
Ownership and Relationship Details
- Shareholding in counterparties: Nil
- Relationship to promoter/promoter group: Not related in any manner
- Transaction classification: Does not fall under related party transactions
- Arm's length principle: Will be maintained
Share Issuance
No shares have been issued to either SBI Life Insurance Company Limited or HDFC Life Insurance Company Limited as part of these agreements.