PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India present since 2001. PNB MetLife has as its shareholders MetLife International Holdings LLC (MIHL), Punjab National Bank (PNB), Jammu & Kashmir Bank Limited (JKB), M. Pallonji and Company Private Limited, and other private investors, MIHL and PNB being the majority shareholders. The company serves customers in over 7000 locations providing a range of health, life, and retirement insurance products.
PNB MetLife was initially launched as MetLife India Insurance Company Limited in 2001. In 2011, PNB picked up a 30% stake in MetLife India Insurance. Both PNB and MetLife India approached the (CCI) on 7 December 2012. In January 2013, PNB received full approval for acquiring a 30% stake in MetLife India Insurance. This new private-sector life insurer was re-branded as PNB MetLife India Ltd.
PNB MetLife is now present in over 150 locations across the country and serves customers in more than 7,000 locations through its bank partnerships with PNB, J&K Bank, and Karnataka bank Ltd.
PNB MetLife Unlisted Share Details as of March 31, 2022
| PNB MetLife Outstanding Shares: | 2,012,884,283 |
| Face Value of PNB MetLife Unlisted Share: | Rs. 10 Per Equity Share |
| ISIN of PNB MetLife Unlisted Share: | INE207O01014 |
| Lot Size of PNB MetLife Unlisted Share: | 500 Shares |
| PNB MetLife Current Share Price: | Best in Industry |
| PAN Number of PNB MetLife: | AACCM6448H |
Incorporation Details of PNB MetLife
PNB MetLife CIN Number |
U66010KA2001PLC028883 |
|
PNB MetLife Registration Date |
11-Apr-2001 |
|
Category / Sub-Category of PNB MetLife |
Company limited by Shares |
|
PNB MetLife Registered Office Address |
Unit No. 701, 702 & 703, 7th Floor, West Wing Raheja Towers, 26/27 M G Road, Bengaluru – 560001, Karnataka |
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PNB MetLife Registrar & Transfer Agent Address and Contact Details |
Link Intime India Private Limited C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai - 400083 Telephone: (022) 4918 6000 |
|
PNB MetLife Particulars of Holding, Subsidiary & Associate Companies
The Company does not have any subsidiary or associate or Joint Venture company.
PNB MetLife Board of Directors
|
S.NO. |
Name of the Directors |
Category |
|
|
1. |
Mr. Lyndon Oliver |
Chairman - Non-Executive (Additional) Director |
|
|
2. |
Mr. Ashish Kumar Srivastava |
Managing Director & CEO |
|
|
3. |
Mr. Atul Kumar Goel |
Additional Non-Executive Director |
|
|
4. |
Mr. Sanjay Kumar |
Non-Executive Director |
|
|
5. |
Mr. Pheroze Kersasp Mistry |
Non-Executive Director |
|
|
6. |
Mr. Ashish Bhat |
Non-Executive Director |
|
|
7. |
Mr. Atinder Jit Singh |
Non-Executive Director |
|
|
8. |
Mr. Sanjeev Kapur |
Additional Non-Executive Director |
|
|
9. |
Mr. Karthik Mohan |
Additional Non-Executive Director |
|
|
10. |
Mr. Thallapaka Venkateswara Rao |
Non-Executive Director |
|
|
11. |
Mr. Arvind Kumar Jain |
Non-Executive Director |
|
|
12. |
Mr. Erach Kotwal |
Non-Executive Director |
|
|
13. |
Mr. Sunil Gulati |
Independent Director |
|
|
14. |
Ms. Sonu Bhasin |
Independent Director |
|
|
15. |
Ms. Padma Chandrasekaran |
Independent Director |
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PNB MetLife India Insurance Company Limited Shareholding Pattern (As of 31-03-2022)
|
S. No. |
Shareholder’s Category |
No. of Shares |
% of total Shares of the company |
|
1 |
Promoters Group |
1,54,73,67,472 |
76.87% |
|
2 |
Public |
46,55,16,811 |
23.13% |
|
|
Total |
2,01,28,84,283 |
100.00% |
Life Insurance Industry Outlook
The life insurance industry in India continues to grow with 12% CAGR from FY 2016-17 to FY 2021-22 in life insurance premium. The double-digit growth in premium can be attributed to increasing insurance awareness, expansion in the distribution network and introduction of different government schemes for financial inclusion.
Life insurance penetration in India, on the other hand, has declined to 3.2% in CY 2020 from 4.4% in CY 2010 due to various economic factors. CRISIL Research suggests that due to the higher share of savings than protection in premium, the actual protection provided by insurance in India would be much lower compared with even other developing markets.
Also, the insurance density in India, at USD59 in CY 2020, remains very low compared with other developed and emerging market economies. At the same time, India’s protection gap was USD16.5 trillion as of CY 2019, which was much higher compared with its Asian counterparts.
