PNB MetLife India Insurance Company

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PNB MetLife India Insurance Company Limited
Company type Joint venture
Industry Financial services
Founded2001;24 years ago (2001)
Headquarters Mumbai, India
Area served
India
Key people
Sameer Bansal (MD & CEO)
Products
Number of employees
21,000+
Parent Punjab National Bank
MetLife
Website www.pnbmetlife.com

PNB MetLife India Insurance Company Limited (PNB MetLife) established in 2001 is one of the leading life insurance companies in India. PNB MetLife shareholders include MetLife International Holdings LLC (MIHL), Punjab National Bank (PNB), Jammu & Kashmir Bank Limited (JKB), and M. Pallonji and Company Private Limited, as well as other private investors. MIHL and PNB are the majority shareholders in the company. The company serves customers in over 7000 locations providing a range of health, life and retirement insurance products. [1]

History

PNB MetLife was initially launched as MetLife India Insurance Company Limited in 2001. In 2011, PNB acquired a 30% stake in MetLife India Insurance. On 7 December 2012, PNB and MetLife India approached the Competition Commission of India (CCI). In January 2013, PNB received full approval to purchase a 30% stake in MetLife India Insurance. This new private sector life insurer was re-branded as PNB MetLife India Ltd. [2]

References

  1. "About PNB MetLife". pnbmetlife. Retrieved 7 November 2016.
  2. "Punjab National Bank acquires 30% stake in MetLife, company to be re-branded". The Indian Express. Retrieved 1 September 2016.