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PNB MetLife to sell policies to Baharain Bank customers

Press Trust of India  |  New Delhi 

Private sector life insurer PNB MetLife has inked a corporate agency tie-up with of and Kuwait (BBK) to sell retail and group products of the company to the foreign bank's customers in

As a part of this tie-up, PNB MetLife will offer its wide array of best-in-class and innovative solutions to BBK's customers spread across its branches, PNB MetLife said in a statement.

"Bancassurance tie-up forms an important part of the PNB MetLife's growth strategy and the company has forged many successful alliances, to enhance its distribution footprint in the country," it said.

PNB MetLife will offer its products across protection, health, savings, wealth and rural plans to the customers of BBK.

PNB Metfile MD & CEO Ashish Srivastava said, "It will be able to offer customised solutions to BBK customers."

Mallikarjun Kota, Country Head and Chief Executive Office,r said: "of and Kuwait has been operating in for over 30 years...BBK intends to leverage its strong presence in the region and amongst the Indian diaspora to serve with most suitable solutions."

PNB MetLife is jointly held by MetLife International Holdings LLC (MIHL), Punjab National (PNB), Jammu and Kashmir Bank, M Pallonji and Company Private Ltd and other private investors.

MIHL and PNB are the majority shareholders in the firm.

PNB MetLife had 93,015 polices/schemes outstanding by September 2017.

Its premium collection by the end of second quarter (September) of this fiscal was at Rs 555.40 crore, up from Rs 440.45 crore till the same time a year ago.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 17:57 IST