MetLife increases capital Rs350 cr to support growth plans

MetLife increases capital Rs350 cr to support growth plans
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First Published: Thu, Feb 21 2008. 06 27 PM IST
Updated: Thu, Feb 21 2008. 06 27 PM IST
New Delhi: As a part of its country-wide expansion, MetLife India Insurance Company Limited (MetLife) announced the increase in its paid-up capital to Rs1230 crore through an additional capital infusion of Rs350 crore to support the company’s growth plans in 2008.
MetLife, Inc. has a significant presence in North America and is based on life insurance in-force and is keen to establish a formidable position in India with a range of best-in-class products.
Life insurance in India is about providing guarantees and peace of mind to customers that their hard earned savings will be protected against uncertainties of the markets in the long term.
With a strong portfolio of over 20 products in India, the company operates through a countrywide network of 111 offices across 66 cities. With over 32,000 financial advisors, their focus remains on providing need-based financial solutions to their customers.
MetLife strongly believes in a multi-distribution approach for reaching customers across the length and breadth of the country. MetLife has bancassurance tie-ups with Jammu & Kashmir Bank, UTI Bank, Dhanalakshmi Bank, Karnataka Bank and Barclays.
It services over 13 million customers through its bank partners. In a tie-up with leading corporate agents and brokers, it is expanding its offerings so that companies can better manage their gratuity funds and enhance other employee benefits. The group business currently has close to a million lives insured.
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First Published: Thu, Feb 21 2008. 06 27 PM IST