PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India (Source – CRISIL), has as its shareholders MetLife International Holdings LLC (MIHL), Punjab National Bank (PNB), M. Pallonji and Company Private Limited, Jammu & Kashmir Bank Limited (JKB), and other investors, with MIHL and PNB being the promoters of the Company. PNB MetLife has been present in India since 2001.

PNB MetLife brings together the financial strength of a leading global life insurance provider, MetLife, Inc., and the credibility and reliability of PNB, one of India's oldest and leading nationalized banks. The vast distribution reach of PNB together with the global insurance expertise and product range of MetLife makes PNB MetLife a strong and trusted insurance provider.

PNB MetLife is present in 150 locations across the country with access to customers in ~19,000 locations through its strong bank partnerships with PNB, JKB, KBL and other bank partners.

PNB MetLife follows ‘Circle of Life’ philosophy for products and solutions and caters to financial requirements of customers covering their 4 different stages of life- Child Education, Term Insurance, Long Term Saving Plans and Retirement Plans. Our comprehensive product portfolio comprises of 25 Retail and 15 Group Products and riders catering to the various needs.

The company offers a variety of protection and retirement products through its network of over 28,000 financial advisors and multiple bank partners, serving more than 521 group relationships in India.

Fast Facts
MD & CEO Sameer Bansal
Established in India 2001
Regional Headquarters Hong Kong
Employees; 21,000+*
Offices 150 locations
Products Life Insurance solutions for Child Education, Family Protection, Long Term Saving and Retirement, Benefit Programs.
*As of March 31, 2023 (Full-time and part-time employees)

Disclaimer: All numbers have been taken from the Annual Report FY 2021-22

Public disclosures on company website

Milestones

2001

• MetLife India starts operations in India.
• Establishes bancassurance partnerships with two private regional banks – the Jammu & Kashmir Bank Ltd. (JKB) and Karnataka Bank Ltd. (KBL)

2008

• MetLife India achieves a milestone premium of USD 200 million

2009

• MetLife India launches Met Monthly Income Plan, pioneering the niche “monthly income” market in India

2011

• MetLife India breaks even per statutory** and GAAP financials in the year; among the few life insurance companies operating in India to turn profitable.
• MetLife India launches bancassurance partnership with Punjab National Bank (PNB), one of the leading nationalised banks in India with around 6,000 domestic outlets across the country and a customer base of over 78 million (as on FY2011)

2013

• Punjab National Bank (PNB) acquired 30% stake in MetLife India Insurance Co Ltd.

2014:

• PNB MetLife launches its CSR initiative in partnership with its bank partners, JKB and KBL

2018

• PNB MetLife launched AI powered customer service chatbot khUshi – the first of its kind in Indian Life Insurance industry
• PNB MetLife launches its CSR initiative Damini, which focuses on creating interventions across the various stages of underprivileged girl to woman
• PNB MetLife ties up with Shinhan Bank

2019

• PNB MetLife ties-up with Esaf Small Finance Bank
• PNB MetLife on-boards PV Sindhu, two-time Olympic Medalist and Badminton champion as Brand Ambassador
• The Economic Times lists PNB MetLife among ‘Top 10 trusted Life Insurers of India’ and recognizes among the Best Brands of 2019

2020

• PNB MetLife recognized by Economic Times among the Best Brands, second year in a row
• Launch of “Claims Assure” – 3 hours claims decisioning initiative for eligible claims
• Launch of ‘e-branch next’, digital customer onboarding device agnostic platform with modern and adaptive user interface

2021

• Tie up with new credit life partners like PNB Housing and Centrum Housing
• The Economic Times recognizes PNB MetLife amongst the Best Brands of 2021 third year in a row
• PNB MetLife launches Glow Green, a sustainability led CSR initiative

2022

• Foray into wealth and wellness services with one of its kind PNB MetLife Dental Care Plan
• Launch of “Smart Friend” – an integrated mobile application for Agency Channel
• The Economic Times recognized PNB MetLife amongst the Best Brands of 2022 fourth year in a row and the Best Organization for Women 2022
• Won the World Record for “Most Kids participating in a Badminton Championship in multiple cities” for PNB MetLife Junior Badminton Championship

2023

• Tie up with Unity Small Finance Bank
• Awarded “Best Credit Protection 2023” by Insure Next
• Awarded winner in category “Customer Service and Customer Experience of the Year” at the 2nd Edition Future of Insurance Summit Award & Summit 2023.

2024

• Ranked 9th among India's Best Companies to Work for in 2024 by Great Place to Work
• Retail claim settlement ratio improved to 99.2%
• ₹930 crores in bonuses declared for 5.82 lakh customers with participating products
• Smriti Mandhana unveiled as the new Brand Ambassador of PNB MetLife
• Received The Economic Times Best Brand Award for the 5th consecutive year
• PNB MetLife Junior Badminton Championship set a world record for the most kids participating in a badminton championship across multiple cities
• Launched a new Small Cap fund with unit-linked products