Aegon Life Insurance on Friday announced that it will now be known as Bandhan Life. The brand also revealed a new logo and tagline, 'Bharat Ki Udaan, Bandhan Se' as a part of its transition to Bandhan Group.

Bandhan Financial Holdings has officially taken over Aegon Life Insurance and the latter will now be called Bandhan Life.

The insurer said that it will recruit 1,000 new employees in its immediate phase of an "aggressive growth strategy," reinforcing its commitment to expanding its customer base and service Excellence.

"Bandhan Life aims to revolutionize the industry as the synergy between the insurer's technological prowess and Bandhan Group's extensive reach aims to deliver unparalleled insurance solutions to a wider audience, enhancing accessibility and customer experience," the insurer said in a release.

Satishwar B., MD and CEO of Bandhan Life, said, "This transition sets the stage for an amazing new chapter for us as we become a part of the renowned Bandhan Group. With Bandhan Life, we are bolstering our collaborative strengths of digital innovation and robust distribution to enhance the value for all our stakeholders."

He said, "Looking ahead, our vision for the next five years is set: transforming Bandhan Life into a leading multi-channel insurance company. We will be expanding our presence across all relevant product categories, thereby enhancing the services we provide."

"Our tag line 'Bharat Ki Udaan, Bandhan Se' and our new logo of a growing 'bud' represent our dedication to nurturing and empowering the dreams and aspirations of India," he added.

The updated product names, such as Bandhan Life iTerm Prime, reflect this new direction, inviting customers to explore the company's enhanced offerings on its website, said the company.

According to the company, the transition signifies a strategic shift towards becoming a comprehensive insurer that combines the best of digital innovation with the strength of vast distribution channels.