PNB MetLife India Insurance has formed a bancassurance alliance with India Post Payments Bank (IPPB) to enhance the availability of life insurance solutions across India.
PNB MetLife’s life insurance products will become accessible to the public through IPPB’s 650 banking outlets that are reputed to serve more than 110 million customers.
The goal of this partnership is to assist customers in realising their aspirations while advancing financial inclusion nationwide.
PNB MetLife and IPPB also aim to boost life insurance adoption and awareness.
IPPB MD and CEO R Viswesvaran, as reported by ANI, said: “Partnering with PNB MetLife allows us to advance this mission by offering our customers a broader range of life insurance products tailored to their needs. Together, we are building a stronger ecosystem for financial security for our customers.”
PNB MetLife MD and CEO Sameer Bansal stated: “Partnering with India Post Payments Banks is more than a business collaboration – it is a shared commitment to making life insurance accessible to all Indians.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“This partnership reflects our belief that insurance is not merely a product but a promise of security and resilience for families. Together, we aim to take meaningful steps toward achieving financial inclusion for all, staying true to the spirit of ‘Milkar Life Aage Badhaein’.”
In 2020, IPPB joined forces with PNB MetLife to offer the Pradhan Mantri Jeevan Jyoti Bima Yojana life insurance scheme.
IPPB was established by the Department of Posts under the Ministry of Communication and is fully owned by the Government of India.
PNB MetLife is a joint venture (JV) between US insurer MetLife and Indian Government-backed lender Punjab National Bank.
In October 2021, MetLife announced plans to increase its stake in the JV by acquiring 15.27% owned by the Dabriwala family.
As of November 2024, PNB MetLife had 155 branches, extending its reach to more than 19,000 locations via banking partnerships.
The company provides an array of products focused on child education, family protection, long-term savings and retirement planning.
