Page 122 - DMGT512_FINANCIAL_INSTITUTIONS_AND_SERVICES

Unit 8: Insurance Sector

MetLife India Insurance Company Limited (MetLife) Notes

MetLife India Insurance Company Limited (MetLife) is an affiliate of MetLife, Inc. and 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. It serves its
customers by offering a range of innovative products to individuals and group customers at
more than 600 locations through its bank partners and company-owned offices.
MetLife, Inc., through its affiliates, reaches more than 70 million customers in the Americas,
Asia Pacific and Europe. Affiliated companies, outside of India, include the number one life
insurer in the United States (based on life insurance in force), with over 140 years of experience
and relationships with more than 90 of the top one hundred FORTUNE 500 companies. The
MetLife companies offer life insurance, annuities, automobile and home insurance, retail banking
and other financial services to individuals, as well as group insurance, reinsurance and retirement
and savings products and services to corporations and other institutions.

Kotak Mahindra Old Mutual Life Insurance

Kotak Mahindra Old Mutual Life Insurance is a joint venture between Kotak Mahindra Bank
Ltd., its affiliates and Old Mutual plc. The company is one of the fastest growing insurance
companies in India and has shown remarkable growth since its inception in 2001.
The group's mission is to emerge as the leading company offering a comprehensive range of life
insurance and pension products at competitive prices, ensuring high standards of customer
satisfaction and world class operating efficiency, and become a model life insurance company in
India in the post liberalization period.
SBI Life Insurance Company Limited

SBI Life Insurance Company Limited is a joint venture between the State Bank of India and BNP
Paribas Assurance. SBI Life Insurance is registered with an authorized capital of 2000 crores
and a Paid-up capital of 1000 crores. SBI owns 74% of the total capital and BNP Paribas Assurance
the remaining 26%.
State Bank of India enjoys the largest banking franchise in India. Along with its 7 Associate
Banks, SBI Group has the unrivalled strength of over 14,500 branches across the country, arguably
the largest in the world.

BNP Paribas Assurance is the life and property & casualty insurance unit of BNP Paribas - Euro
Zone's leading Bank. BNP Paribas, part of the world's top 6 group of banks by market value and
a European leader in global banking and financial services, is one of the oldest foreign banks
with a presence in India dating back to 1860. BNP Paribas Assurance is the fourth largest life
insurance company in France, and a worldwide leader in Creditor insurance products offering
protection to over 50 million clients. BNP Paribas Assurance operates in 41 countries mainly
through the bancassurance and partnership model.
SBI Life has a unique multi-distribution model encompassing Bancassurance, Agency and Group
Corporate.

SBI Life extensively leverages the SBI Group as a platform for cross-selling insurances products
along with its numerous banking product packages such as housing loans and personal loans.
SBI's access to over 100 million accounts across the country provides a vibrant base for insurance
penetration across every region and economic strata in the country ensuring true financial
inclusion.

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