MetLife ties up with retail chain to enter rural market

MetLife ties up with retail chain to enter rural market
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First Published: Mon, Mar 10 2008. 06 24 PM IST
Updated: Mon, Mar 10 2008. 06 24 PM IST
PTI
Hyderabad: MetLife India, a subsidiary of global insurance giant MetLife Inc, today entered into a strategic tie up with Viswas, a Hyderabad based retail chain, to offer life insurance and other financial products in the rural areas.
This will give MetLife access to nearly 300 retail outlets of Viswas in Hyderabad and the tie up would be extended across Andhra Pradesh, Tamil Nadu, Karnataka and Maharashtra, Rajesh Relan, managing director of MetLife, said.
“Given the huge size of rural market, MetLife envisions this association as an opportunity to further augment its rural presence. We are confident that our life insurance products will be made available to rural customers in a need-based manner,” he said.
The collaboration is now working in two districts of coastal region of Andhra Pradesh to start with, Relan said adding, “We plan to increase the number of retail outlets selling our insurance policies to 450 by 2009.”
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First Published: Mon, Mar 10 2008. 06 24 PM IST
More Topics: Insurance | Rural | Retail | MetLife | Corporate News |