PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India (Source – CRISIL), has as its shareholders MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), M. Pallonji and Company Private Limited, Jammu & Kashmir Bank Limited (JKB), and other private investors, with 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 nationalized 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 109 locations across the country with access to over 206 million customers in ~15,000 locations through its strong bank partnerships with PNB, JKB, KBL and other bank partners.
PNB MetLife follows ‘Circle of Life’ philosophy for products and solutions and caters to financial requirements of customers covering their 4 different stage of life- Child Education, Family Protection, Long Term Saving and Retirement. Our comprehensive product portfolio comprises of 25 Retail and 14 Group Products and riders catering to the various needs.
PNB MetLife wide range of protection and retirement products through its Agency sales of over 9,200 financial advisors and multiple bank partners, and provides access to Employee Benefit plans for over 700+ corporate clients in India. The company continues to be consistently profitable since FY 2011.
MD & CEO Ashish Kumar Srivastava
Established in India 2001
Regional Headquarters Hong Kong
Offices 109 locations
Products Life Insurance solutions for Child Education, Family Protection, Long Term Saving and Retirement. Benefit Programs
*As of March 31, 2021 (Full-time and part-time employees)
- History : PNB MetLife has been serving the life insurance needs of customers across the country since 2001
- Robust Distribution: Multi-channel distribution with Bancassurance, Agency, and Direct channels; with a presence in 700 districts through a bancassurance network
Public disclosures on company website
- 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)
- MetLife India achieves a milestone premium of USD 200 million
- MetLife India launches Met Monthly Income Plan, pioneering the niche “monthly income” market in India
- 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)
- Punjab National Bank (PNB) acquired 30% stake in MetLife India Insurance Co Ltd.
- PNB MetLife launches its CSR initiative in partnership with its bank partners, JKB and KBL
- PNB MetLife launched AI powered customer service chatbot khUshi – the first of its kind in Indian Life Insurance industry
- PNB launches its CSR initiative Damini, which focuses on creating interventions across the various stages of girl to woman.
- PNB MetLife ties up with Shinhan Bank
- 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
- PNB MetLife recognized among the Best Brands – second year in a row
- Launch of “Claims Assure” – 3 hours claims decisioning initiative