Life Insurance Companies in India | Life Insurance Products & Solutions - PNB MetLife Insurance

PNB MetLife - Life Insurance Company

PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India. PNB MetLife  has as its shareholders MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited and other private investors, MIHL and PNB being the majority shareholders. PNB MetLife has been present in India since 2001.

PNB MetLife brings together the financial strength of a leading global life insurance provider, MetLife, Inc., and the credibility and reliability of PNB, one of India's oldest and leading nationalised banks. The vast distribution reach of PNB together with the global insurance expertise and product range of MetLife makes PNB MetLife a strong and trusted insurance provider.

PNB MetLife is present in 107 locations across the country with access to over 100 million customers in more than 11,000 locations through its strong bank partnerships with PNB, JKB, KBL and other bank partners.
PNB MetLife partners with the customers for their entire ‘Circle of Life’ covering their 4 different stages of life – Child Education, Family Protection, Long Term Savings and Retirement. Our comprehensive product portfolio comprises of 16 Savings Products, 13 Protection Products, 5 pension products, and 8 optional riders.

PNB MetLife wide range of protection and retirement products through its Agency sales of over 7,338 financial advisors and multiple bank partners, and provides access to Employee Benefit plans for over 659 corporate clients in India. The company continues to be consistently profitable and has declared profits for last five Financial Years.

Fast Facts
MD & CEO: Ashish Kumar Srivastava
Established in India:  2001
Regional Headquarters:  Hong Kong
Employees:  10,444*
Offices:  107 locations
Products:  Life Insurance, Retirement Solutions and Employee Benefit Programs
*As of March 31, 2018

Highlights

  • History : PNB MetLife incorporates in India in 2001 and establishes a pan-Indian footprint within 16 years of operations
  • Robust Distribution: Multi-channel distribution with strong Agency, Bancassurance and Direct channels; with a presence in more than 700 distinct cities through a bank branch network of over 11,588 branches and access to over 105 million customers. 
  • Building of brand through Badminton: PNB MetLife believes in nurturing talent from grass root level with an aim to reach out to young talent across the country. To promote badminton on-ground, the company has successfully launched its fifth season of the annual property - Junior Badminton Championship (JBC 5) in June this year.

          **Public disclosures on company website


Milestones

2001:

  • MetLife India starts operations in India.
  • Establishes bancassurance partnerships with two private regional banks – the Jammu & Kashmir Bank Ltd. (JKB) and Karnataka Bank Ltd. (KBL)


2008:  

  • MetLife India achieves a milestone premium of USD 200 million


2009: 

  • MetLife India launches Met Monthly Income Plan, pioneering the niche “monthly income” market in India 


2011: 

  • MetLife India breaks even per statutory** and GAAP financials in the year; among the few life insurance companies operating in India to turn profitable.
  • MetLife India launches bancassurance partnership with Punjab National Bank (PNB), one of the leading nationalised banks in India with around 6,000 domestic outlets across the country and a customer base of over 78 million. (as on FY2011)

2013: 

  • Punjab National Bank (PNB) acquired 30% stake in MetLife India Insurance Co Ltd.


2014: 

  • PNB MetLife launches its CSR initiative in partnership with its bank partners, JKB and KBL 

2018:

  • PNB MetLife launched AI powered customer service chatbot khUshi – the first of its kind in Indian Life Insurance industry
  • PNB MetLife ties up with Shinhan Bank


2019:

  • PNB MetLife ties-up with Esaf Small Finance Bank
  • PNB MetLife on-boards PV Sindhu at its Brand ambassador
  • The Economic Times lists PNB MetLife among ‘Top 10 trusted Life Insurers of India’ and recognizes among the Best Brands of 2019


MetLife Foundation
MetLife Foundation is the charitable arm of MetLife, Inc. and was created in 1976 as one important way to reflect the commitment to corporate social responsibility, MetLife has always demonstrated. Since it was founded, the Foundation has made contributions of over $600 million to help people in need and improve communities. MetLife Foundation has been working with organisations like Sesame Street, Trickle Up, Ujjiva (via Woman World Banking), Parinaam Foundation, among others to promote Financial Inclusion. These projects are focused on low
cost credit, women empowerment and financial literacy.