PNB MetLife India Insurance Company

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PNB MetLife India Insurance Company Limited
IndustryFinancial services
Founded2001; 23 years ago (2001)
HeadquartersMumbai, India
Area served
India
Key people
Ashish Kumar Srivastava (MD & CEO)
ProductsLife insurance
Employee benefits
Investment management
Number of employees
10,444+
ParentPunjab National Bank
MetLife
Websitewww.pnbmetlife.com

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

History[edit]

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

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

Key People[edit]

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 Person Designation
Ashish Kumar Srivastava Managing Director & CEO
P K Dinakar Appointed Actuary
Sanjay Kumar Chief Investment Officer
Viraj Taneja Chief of Internal Audit
Khalid Ahmad Chief Finance Officer
Sameer Bansal Chief Distribution Officer
Sarang Cheema Chief Compliance Officer
Anjan Bhattacharya Chief Risk Officer

Products and services[edit]

Some key plans include:

  • PMLI Super Saver Plan – Long Term Savings
  • PMLI Guaranteed Savings Plan – Long Term Savings
  • PMLI Mera Jeevan Suraksha Plan – Life Protection
  • MetLife Mera Term Plan – Protection for Your Family
  • MetLife Retirement Savings Plan – Retirement Plan
  • PMLI Whole Life Wealth Plan – Long Term Savings
  • MetLife Mera Wealth Plan – Life Protection
  • Century Plan: Cover 100 years protection

Awards[edit]

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

2016: PNB MetLife won ‘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[edit]

The company launched its corporate social responsibility programme in August 2014 in support of the education of children in Karnataka. This project, which is part of the existing Rajiv Gandhi Crèche Scheme, works in tandem with the Government agenda towards strengthening and supporting the 30 crèche centres.[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]

In June 2016, PNB MetLife rolled out a new digital campaign, which includes a 75-second film conceptualised by McCann Erickson.[9]

References[edit]

  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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