This collaboration will assist PNB MetLife in the distribution of its retail and group products to BBK’s customers in India.
Post this partnership, BBK customers in India will be avail to avail PNB MetLife’s entire range of products ranging from health, savings, and wealth to rural plans.
BBK is one of the leading and largest commercial banks in the Kingdom of Bahrain. It has its branches in Mumbai, Hyderabad, Aluva and New Delhi.
Branded as bancassurance forms an important part of PNB MetLife’s growth strategy and the life insurer has already been a part of several such alliances including PNB, Karnataka Bank and Jammu & Kashmir Bank.
Bancassurance is a platform that enables an insurer to sell its products via the partner bank to the bak’s client base.
“PNB MetLife has always endeavoured to be ahead of the curve in designing innovative insurance solutions for our customers and it was only natural for us to look at a partner who shares the same ethos. We are glad to announce our partnership with BBK,” said Ashish Srivastava, Managing Director and CEO, PNB MetLife India Insurance.
“The bank has been operating in India for more than 30 years and is expanding exponentially both in terms of branch presence and business via diversified product range dedicated to the salaried class,” said Mallikarjun Kota, Country Head and Chief Executive Officer, BBK.