MetLife India Insurance

Overall Rating: star ratingstar ratingstar ratingstar ratingstar rating[2/5]Total Votes [ 10 ]  
Rate this page:

MetLife India Insurance- An Overview

MetLife Insurance India is officially referred to as MetLife India Insurance Company Limited (MetLife) and has been operating in India from 2001. It is a part of MetLife Inc. MetLife has its head office in Bangalore and is among the quickest growers in India as far as the insurance sector is concerned.

It has 12 banking partners in the group and retail businesses, along with a firm network of brokers for its group and individual customers. It also has more than 30 thousand financial advisors. In addition to these, it operates an employee benefit business in association with at least 550 leading corporate entities in India.

MetLife Inc itself is one of the top providers of insurance, employee benefit programs, and annuities throughout the world. It operates in 47 countries and caters to 90 million clients. Along with its affiliates and subsidiaries the organization has achieved prominent position in the following markets:
  • US
  • Asia Pacific
  • Japan
  • Europe
  • Latin America
  • Middle East
Following are the various values held in high regard by the insurer:
  • Operating as a leader and being really successful and efficient through independent decisions that can help to get positive results
  • Working with focused dedication towards management of fiscal resources with the aim of getting good fiscal results
  • Focusing on employee excellence
  • Operating all business in a true, fair, and sincere manner
  • Functioning in a productive manner in order to attain a common purpose and also understanding the collective capabilities of different work groups
  • To introduce and create original and new ways and ideas of doing things on a regular basis

MetLife Insurance India Campaigns

Following are the major campaigns initiated by the insurer in the last couple of years:

Campaign name Campaign date
Safety Net January 2003
Marriage November 2005
School November 2005
Payasam November 2005
Expectant Father November 2005
Real Happiness January 2008
Ab Kahe Ki Worry September 2009
Dada Dadi March 2010


MetLife Management

The following individuals make up the management team at MetLife:

Name Designation
Rajesh Relan Managing Director and Country Manager
Balachander Sekhar Director - Marketing, Products and Strategy
MSVS Phanesh Appointed Actuary
Gaurav Sharma Director - PNB Partnership
Subhashish Acharya Chief Distribution Officer
Joydeep Mukherji Chief Financial Officer
Sanjay Vij Head Bancassurance and Business Partnerships
KR Anil Kumar Director - Legal and Risk, and Company Secretary
Sameer Bansal Director - New Business Development and Customer Retention
KS Raghavan Chief Operating Officer
Sanjay Kumar Head of Investment


MetLife India Insurance Partners

Following are the partners of MetLife:
  • Geojit Securities
  • Karnataka Bank
  • Jammu & Kashmir Bank
  • Karvy Consultants
  • Punjab National Bank
  • Mini Muthoottu

MetLife Financial Details

The following details show some crucial financial details of MetLife India Insurance for the 2011-12 fiscal:

Domain Figures for final quarter of 2011-12 in INR thousands Figures till the final quarter of 2011-12 in INR thousands
Amounts transferred from or to the policyholders account (technical account) 19,194 19,194
Interest, rent, and dividend - net of accretion/amortization of discount/premium 75,031 288,829
Profit on sale and redemption of investments 7374 29,371
Expenses not directly related to the insurance business 676 2402
Profit after tax 100,828 331,677


MetLife India Insurance Products

The products offered by MetLife may be enumerated as below:

Individual Plans

Child Plan
  • Met Bhavishya
  • Met Junior Moneyback
  • Met Junior Endowment
  • Met Smart Child
Savings
  • Met Sukh
  • Met Saral
  • Met Suvidha
  • Met 100
Protection
  • Met Suraksha
  • Met Suraksha Plus
  • Met Suraksha TROP
  • Met Mortgage Protector Plus
Rural
  • Met Vishwas
  • Met Grameen Ashray
  • Met Suvidha Rural
Investment
  • Met Dhan Samriddhi
  • Met Smart One
  • Met Smart Platinum
  • Met Easy Super
Health
  • Met Health Cash
  • Met Health Care
Monthly Income
  • Met Monthly Income Plan
  • Met Monthly Income Plan 15 Pay
  • Met Monthly Income Plan 7 Pay
Retirement
  • MDMIP
Money Back
  • Met Money Back

Group Plans

  • Met Loan Assure
  • Met Group Deposit Administration Scheme
  • Met Group Life
  • Met Group Gratuity
  • Met Group Deposit Administration Scheme

MetLife Office Network

MetLife India Insurance has set up offices in the following states and union territories:
  • Andhra Pradesh
  • Karnataka
  • Assam
  • Kerala
  • Bihar
  • Madhya Pradesh
  • Chandigarh
  • Maharashtra
  • Chhattisgarh
  • Odisha
  • Delhi
  • Puducherry
  • Goa
  • Punjab
  • Gujarat
  • Rajasthan
  • Haryana
  • Tamil Nadu
  • Himachal Pradesh
  • Uttar Pradesh
  • Jammu and Kashmir
  • Uttarakhand
  • Jharkhand
  • West Bengal

MetLife India Insurance News

MetLife India Insurance has recently won the Excellence in Growth Award 2012 in the Indian Insurance Awards 2012 for being the quickest growing insurer. The award function was organized at Mumbai. The presenters of the event are SP Media.

The awards have been created to recognize the following factors:
  • Performance
  • Product innovation
  • Growth
  • Market innovation
  • Customer service
  • Technology
Every year the organizers increase the standards needed to attain success in these awards. The award looks to honor all round growth of a life insurer in various critical domains such as the following:
  • Coverage
  • Business mix
  • Volumes
  • Product portfolio
  • Revenues
  • Market share
The award looks to recognize growth that can be maintained over a substantial period of time. This time it honored the sterling growth performance of MetLife India Insurance in the life insurance segment.

While speaking on this prestigious achievement the Managing Director and Country Manager of MetLife India Insurance, Rajesh Relan, has stated that the insurer is both proud and delighted to have bagged the award. He felt that the award was recognition of the organization's dedication towards excellence and team work.

According to him, the award also reflected the hard work put in by the company to come up with groundbreaking solutions and products for the consumers. All these factors, over the year, have played an instrumental role in taking MetLife to the position it enjoys today.

The Indian Insurance Awards are provided on the basis of information that is collected from nomination forms that are provided by insurers who like to see themselves in running for the honors.

The award also has a panel of experts who provide subjective and qualitative suggestions and viewpoints - this makes sure that the awards are provided in accordance to what is happening in the insurance markets.

MetLife India Insurance Contact Details

The contact details of MetLife may be mentioned as below:

Head Office and Registered Office
MetLife India Insurance Company Limited
No.5 Brigade Seshmahal Vani Vilas Road
Basavanagudi
Bangalore
Telephone number: 080 - 66006969 / 26438638
Fax: 080-22421970

Toll free telephone number: 1800-425-6969
Telephone number: 91 80 26502244
E-Mail address: indiaservice@metlife.co.in

Last Updated on 09/26/2012

>> More About Insurance