BFSI sector set to become leading contributor to IPL teams sponsorship revenues

An Indian Insurance company, Max Life Insurance has inked a new sponsorship deal with Indian Premier league franchise, Royal Challengers Bangalore as their Official Insurance partner. The deal will see Max Life Insurance logo being placed on the Non-Leading trouser of the team jersey.

The brand will also have exclusive rights towards usage of team logo, player images and so on. In the previous season, the brand was associated with RCB as their official insurance partner as well, however the logo position was on the non-leading arm of the jersey, which made them the Principal sponsor of the team.

Having moved from the jersey to the trouser, their status gets changed to Associate Sponsor. Continuation of the sponsorship reaffirms the faith in the value the sponsorship delivers for the brands in IPL.

Its interesting to note that Insurance is one of the few sectors which has seen tremendous growth in the Covid times, Max life certainly wants to cash in on the trends and maximise their presence in IPL. 

If reports are to be believed, brand is also considering investing in IPL on air on Star Sports network. BFSI(Banking, financial services and Insurance) has been one of the most active categories to invest in IPL. 

Earlier RCB had announced that Muthoot Fincorp Ltd, a financial services company which provides various types of loans, has signed a three years deal to become the Principal sponsor of the team. The deal will see their logo at the front of jersey of RCB.

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