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    PNB MetLife posts net profit for HY 2014-15; at Rs 122 crores
    28-11-2014

    Private sector player, PNB MetLife India Insurance Co. Ltd. (PNB MetLife) has reported a net profit of Rs 122 crores for HY 2014-15 (April-September); against Rs 91 crores in HY 2013-14.

    • An increase of 34% over last year (Rs 91 cr)
    • Among the top 10 private players with a market share of 3.3%, (ANBP* basis)
    • Healthy conservation ratio at 71%Enhanced the in-forced sum assured of the company to Rs 233,304 cr; 18% increase over last year
    • Renewal premiums of the company grew by 4% to Rs 640 cr
      Mumbai, November 28, 2014: Private sector player, PNB MetLife India Insurance Co. Ltd. (PNB MetLife) has reported a net profit of Rs 122 crores for HY 2014-15 (April-September); against Rs 91 crores in HY 2013-14. Ranked amongst the top 10 private players, PNB MetLife has a market share of 3.3% (ANBP* basis).

      Inspite of the market conditions and significant challenges faced by the sector the company has retained its market share. The renewal premiums for the company grew by 4% to Rs 640 cr and an increase of 18% was recorded in the in-forced sum assured taking it to Rs 233,304 cr. The company continues to maintain a healthy conservation ratio at 71% and an improved solvency ratio of 248% without additional capital infusion.

      Speaking on the occasion, Tarun Chugh, MD & CEO, PNB MetLife said, “The profitability has been a result of operational efficiencies, increase in renewals and higher sales from long-term regular premium products (close to 90% of our portfolio). We have a profitable growth agenda with the Customer at the center. Our objective is to grow our top-line without compromising on the profitability.”

      He added, “I am also delighted to share with you that we are on track with our CSR commitments aligned to the requirements of the Companies Act 2013. We have launched projects towards education and development of underprivileged children in Jammu & Kashmir and Karnataka. We have also been doing a lot of work in Jammu & Kashmir towards relief and rehabilitation post the floods.”

      The company further enhanced its brand position by associating with the popular film of the year – Happy New Year. The brand consideration score for the online audience was at 40%. The company also plans to launch new products in the area of saving for children’s future and critical illness.

      *ANBP: Adjusted New Business Premium – Individual Regular Premium + (Group Premium & Individual Single Premium @10%)


      Press Contact
      Pooja Khan
      PNB MetLife India Insurance Co. Ltd.
      Email: pgargkhan@pnbmetlife.com
      Phone: 0124-4179000; ext: 9085

    Disclaimer

    Collapsed Expanded

    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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