Insurance 04-Oct-21
MetLife to Increase stake in PNB Metlife with Punjab National Bank
US insurer MetLife Inc said on Monday it would increase the stake in its Indian joint venture, availing of the increased limit for foreign companies' investment into the country's insurance industry announced earlier this year.
MetLife said it had entered into an agreement with IGE India and Elpro International to acquire their combined stake of 15.27% in PNB MetLife India Insurance Company Limited.
The deal will boost MetLife's stake in PNB MetLife to more than 47%. Foreign institutional investors are now allowed to hold up to 74% of private insurance companies in India compared with the earlier limit of 49%.
PNB MetLife is a leading life insurance franchise in India with more than 200 million customers across 15,000 sales locations.
Previous News
Punjab National Bank allots Equity shares
( Corporate News - 27-Sep-24 17:28 )
Punjab National Bank launches QIP; floor price at Rs 109.16 /share
( Hot Pursuit - 24-Sep-24 11:25 )
Stock Alert: Punjab National Bank, Reliance Power, Coal India, Power Grid Corp, Thangamayil Jewellery
( Market Commentary - Stock Alert 24-Sep-24 08:25 )
Punjab National Bank launches QIP issue
( Corporate News - 23-Sep-24 18:31 )
Punjab National Bank receives ratings action from India Ratings
( Corporate News - 13-Sep-24 20:53 )
Punjab National Bank slips for fifth straight session
( Hot Pursuit - 05-Aug-24 13:35 )
Punjab National Bank schedules EGM
( Corporate News - 01-Aug-24 18:22 )
Punjab National Bank hikes MCLRs by 5 bps across tenor
( Corporate News - 01-Aug-24 10:13 )
Punjab National Bank gains for third straight session
( Hot Pursuit - 29-Jul-24 13:05 )
Punjab National Bank
( Analyst Meet / AGM - Conference Call 28-Jul-24 23:00 )
Punjab National Bank
( Results - Analysis 28-Jul-24 08:32 )
Other Stories
Bajaj Allianz Life Insurance appoints Srinivas Rao Ravuri as CIO
21-Sep-24 13:45
LIC allocates Rs 600 crore for digital transform; to be 'Paperless' in 2 years
19-Sep-24 09:45
ICICI Prudential Life records highest claim settlement rate in Q1
18-Sep-24 14:12
Aviva Life unveils its new retirement income plan ‘Signature Increasing Income Plan’
11-Sep-24 13:58
Life insurers’ premium income rose 22% to Rs 32,644 crore in August
09-Sep-24 16:12
Insurance regulator IRDAI issues circular to protect interests of policyholders
06-Sep-24 16:08
Star Health Insurance launches India's first insurance policy in Braille
04-Sep-24 20:25
Life Insurance Corporation handover Rs 3,662 crore Dividend cheque to Government
30-Aug-24 09:17
ICICI Prudential life launches tax-efficient ULIP pension product
29-Aug-24 17:50
Max Life Insurance unveils its new ULIP fund ‘Nifty 500 Momentum 50 Index Fund’
20-Aug-24 19:58
Back
Top
