PNB MetLife India Insurance Company

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PNB MetLife India Insurance Company Limited
Company type Joint venture
Industry Financial services
Founded2001;23 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]

Contents

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]

PNB MetLife now has over 150 branches across the country and serves customers at more than 7,000 locations through its bank partnerships with PNB, Jammu and Kashmir Bank Limited (JKB), and Karnataka Bank Limited.

Key people

The key people of PNB MetLife India Insurance Company Limited as defined by Insurance Regulatory and Development Authority of India (IRDA) are as follows:

Name of key personDesignation
Sameer BansalManaging Director & CEO
Asfa BihariAppointed Actuary
Nilesh KothariChief Financial Officer
Mahendra MunotChief Operations Officer
Sanjay KumarChief Investment Officer
Vijayalakshmi NatarajanChief Risk & Compliance Officer
Shishir AgarwalChief Human Resource Officer
Vineet MaheshwariChief Strategy Officer & Chief Information Technology Officer
Motty JohnChief Legal Officer & Head – Board Affairs
Viraj TanejaChief of internal audit
Yagya TurkerCompany Secretary

Awards

2016: PNB MetLife won the ‘Website of the Year’ award at the E-Commerce Summit & Awards in Mumbai. [3]

2016: PNB MetLife won the ‘Celent Model Insurer Asia’ award for the most responsive eCommerce platform on a mobile. [4] [5]

2016: PNB MetLife won honors at the prestigious Asia Training & Development Excellence Awards 2016 held in Singapore in two categories – Best Education Training Campaigns and Programs and Best Sales Development Program. [6]

Other achievements

In August 2014, the company launched its corporate social responsibility program to support the education of children in Karnataka. The project, which is part of the existing Rajiv Gandhi Crèche Scheme, supports the government's priority of strengthening and supporting the 30 crèche centers. [7]

On the occasion of World Health Day, PNB MetLife announced the fifth edition of Guinness Record-holding PNB MetLife Satara Hill Half Marathon 2016. [8]

A new digital campaign, including a 75-second film conceptualized by McCann Erickson, was launched by PNB MetLife in June 2016 [9]

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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.
  3. ↑ "E-COMMERCE AWARD WINNERS 2016". asiaretailcongress. Retrieved 7 November 2016.
  4. ↑ "PNB Metlife Won Celent Model Insurer Asia 2016 Award". policymantra.com. Retrieved 29 April 2016.
  5. ↑ "PNB Metlife wins Model Insurer Asia awards 2016". indiainfoline.com. Retrieved 28 April 2016.
  6. ↑ "PNB METLIFE WINS TWO HONORS AT ASIA TRAINING & DEVELOPMENT EXCELLENCE AWARDS 2016". visheshnews.in. Vishesh News. Retrieved 16 August 2016.
  7. ↑ "PNB Met Life, Karnataka Bank reiterate support for creche project under CSR". The Times of India. Retrieved 24 October 2016.
  8. ↑ "Hill half marathon to challenge fitness enthusiasts launched in Mumbai". The Times of India. 10 April 2016. Retrieved 18 February 2019.
  9. ↑ "PNB MetLife plots wacky vanishing act to show 'anything can happen". Campaign India. Retrieved 25 October 2016.
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