Indian life insurer PNB MetLife has entered into a corporate agency pact with Bank of Bahrain and Kuwait (BBK).
The deal will enable the life insurer to distribute its entire range of retail and group products to BBK’s clients’ across India.
BBK customers will get access to PNB MetLife’s wide range of products including health, savings, wealth and rural plans.
In India, BBK has branches in major metro areas such as Mumbai, Hyderabad, Aluva and New Delhi.
Recently, BBK inked similar agreement with PNB, Karnataka Bank and Jammu & Kashmir Bank to boost growth.
PNB MetLife India Insurance managing director and CEO Ashish Srivastava said: “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.”
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BBK country head and CEO Mallikarjun Kota said: “BBK, said the bank has been operating in India for over 30 years and is growing consistently both in terms of branch presence and business through diversified product offerings to the salaried class.”