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PNB approves MetLife India for partnership

Last Updated: Aug 09, 2011 | 2151 Views

Punjab National Bank (PNB) said that its board has approved MetLife India Insurance Company for strategic partnership in the insurance business. 

MetLife India Insurance Company  was incorporated as a joint venture between MetLife International Holdings, Inc., The Jammu and Kashmir Bank, M. Pallonji and Co. Private Limited and other private investors.

In January, state-run lender PNB, had invited expression of interest (EOI) from Indian and foreign companies for a new venture. The board has also approved MetLife India Insurance for corporate agency distribution arrangement.

Also read Bharti AXA, MetLife and Aviva competing for life insurance venture with PNB

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