Barclays in bancassurance tie-up with MetLife
11th July, Mumbai
MetLife India Insurance Company Private Limited (MetLife) and Barclays today announced their bancassurance tie-up in India. With this tie-up, MetLife, which is now amongst the top five fastest growing private players in the country, has taken another step in the direction of establishing itself as one of the leading private life insurers in India.
Speaking about this partnership, Mr. Rajesh Relan, Managing Director, MetLife, said, "We are happy to announce our partnership with Barclays in India, which is the coming together of two formidable institutions. In Barclays, MetLife has a partner that shares its vision of providing world class products to its customers". He added, "The combined experience of the Barclays and MetLife, Inc. groups in financial services is more than 400 years and we are confident of making a difference in the hugely promising Indian market."
Mr. Samir Bhatia, Managing Director, Barclays India and Indian Ocean, said, "The tie-up with MetLife will address our clients’ need for a comprehensive range of best-in-class, need-based life insurance solutions. We are also happy that with this need-based approach, we will assure our customers of solutions that are tailor-made to their individual insurance needs."
Through its other partnerships with Jammu & Kashmir Bank, UTI Bank, Karnataka Bank and Dhanalakshmi Bank, MetLife’s products are available at over 500 branches of these partner banks.
MetLife follows a multi-distribution approach. Besides the strong bancassurance channel, the company currently has an agency force comprising around 25,000
SOURCE: India Infoline News Service