General Insurance Commission Disclosure

General Insurance Commission Disclosure

In terms of the RBI circular bearing Ref. No. RBI/2009-10/225 dated November 16, 2009 following are the details of commission which AU Small Finance Bank Ltd. is eligible to earn from Cholamandalam MS General Insurance Company Limited, TATA AIG General Insurance Company Limited, ICICI Lombard General Insurance Company Limited on the sale of General Insurance Products in its capacity as corporate agent in line with IRDAI (Payment of Commission or Remuneration or reward to insurance agents and insurance intermediaries) Regulations, 2016 and applicable circulars

Class of Business – Motor Insurance

Sr. No	Year	Maximum % of Premium payable as agency commission (excluding GST and applicable CESS)
		Motor (Comprehensive)	Motor (Stand-alone TP)
		Other than 2-wheeler	Other than 2-wheeler
1	Certificate of registration –1st to 3rd year	15% (OD portion) + (Nil - TP portion)	2.5%
2	Certificate of registration – 4th year onwards	15% (OD portion) + 2.5% (TP portion)	2.5%

Sr. No	Year	Maximum % of Premium payable as agency commission (excluding GST and applicable CESS)
		Motor (Comprehensive)	Motor (Stand-alone TP)
		2-wheeler	2-wheeler
1	Certificate of registration –1st to 3rd year	17.5% (OD portion) + (Nil - TP portion)	2.5%
2	Certificate of registration – 4th year onwards	17.5% (OD portion) + 2.5% (TP portion)	2.5%

Class of Business – Fire Insurance

Sr. No	Line of business	Maximum % of Premium payable as agency commission (excluding GST and applicable CESS)
1	Fire-Retail	16.5%
2	Fire-Commercial (Risks with S.I. < Rs 2,500 crs)	11.5%
3	Fire- Commercial (Risks with S.I. > Rs 2,500 crs)	6.25%

Disclaimers

AU Small Finance Bank Limited. (“AU Bank”) has registered itself with Insurance Regulatory and Development Authority of India (“IRDAI”) and Licensed to act as a corporate agent. Accordingly, AU Bank has entered into Corporate Agency Agreement with Cholamandalam MS General Insurance Company Limited having its address at 2nd Floor, "Dare House", No.2, NSC Bose Road, Chennai 600001, TATA AIG General Insurance Company Limited, having its address Peninsula Business Park, Tower A, 15th Floor, G. K. Marg, Lower Parel, Mumbai 400013 and ICICI Lombard General Insurance Company Limited having its address at ICICI Lombard House, 414, Veer Savarkar Marg Near Siddhivinayak Temple, Prabhadevi Mumbai MH IN 400025 for distribution of their Insurance products.

For all the policies solicited by AU Bank, the contractual agreement shall be made between Cholamandalam MS General Insurance Company Limited, TATA AIG General Insurance Company Limited, ICICI Lombard General Insurance Company Limited and the insured person only. AU Small Finance Bank Limited. is merely a corporate agent of Cholamandalam MS General Insurance Company Limited, TATA AIG General Insurance Company Limited, ICICI Lombard General Insurance Company Limited where the underlying risk shall be underwritten by respective Insurers.

There is no direct/indirect association between the banking services offered by AU Bank and usage of the product and/or in the scheme offered by Cholamandalam MS General Insurance Company Limited, TATA AIG General Insurance Company Limited, ICICI Lombard General Insurance Company Limited. Customers’ participation in this product shall be at their own free will and purely on voluntary basis. AU Bank is neither liable nor responsible for any claim, dispute, liability, loss, shortfall or the like resulting from the scheme though the Bank will surely support and guide its customers in the entire claim process. This policy is brought to you from Cholamandalam MS General Insurance Company Limited, TATA AIG General Insurance Company Limited, ICICI Lombard General Insurance Company Limited.

AU Small Finance Bank Limited. (CIN: L36911RJ1996PLC011381) is a scheduled Bank under second schedule of Reserve Bank of India Act 1934, and a Small Finance Bank under Section 22 of Banking Regulation Act 1949 and having its registered office at 19-A, Dhuleshwar Garden, Ajmer Road, Jaipur – 302001, Rajasthan with Corporate Agent (Composite, IRDAI Registration No. : CA0515 valid till 30/08/2026)

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