Key Features :
• With this partnership, ESAF SFB will be able to provide PNB MetLife’s gamut of life insurance solutions to its existing and future customer base
•This strategic tie-up will help PNB MetLife and ESAF SFB to reach many more Indians and further the Indian Government’s agenda of holistic financial inclusion.
Mumbai, January 9, 2019 (GPN) : PNB MetLife, one of the top 10 private life insurance companies in India (fiscal
2018), and Kerala-based ESAF Small Finance Bank, have entered into a strategic partnership. The
partnership will provide the customers across the ESAF SFB network with access to an expanded financial
services suite. A Corporate Agency agreement was signed to this regards.
The alliance will enable PNB MetLife to reach both existing and new ESAF SFB customers with insurance
products, while ESAF SFB will be able to provide its customers an access to a wide array of life insurance
products and services. As per the Corporate Agency agreement, ESAF SFB will leverage its outlets to offer
PNB Metlife’s life insurance products.
Speaking at the Press Conference, Ashish Kumar Srivastava, MD & CEO, PNB MetLife India Insurance Co,
Ltd. said, “PNB MetLife has always believed in inclusive growth and looked for ways to expand its reach.
We are delighted to partner with ESAF SFB and offer our wide range of unique products to their customer
base. We look forward to this journey together and hope to provide more customers with PNB Metlife’s
Adding to this, Mr. K Paul Thomas, MD & CEO, ESAF Small Finance Bank, said “Many middle and lower
socio economic class families from non metro cities do not have access to the services offered by the formal
finance sector. This partnership with PNB MetLife, will enable us to fulfill our vision of enabling our
customers – existing and new – to understand the value of life insurance better, and thereby make a more
informed decision on why it is useful for them.”
PNB MetLife is dedicated to the cause of insurance penetration. Bearing in mind the same, PNB MetLife
continuously utilizes various distibution channels. As of December 31, 2018, the insurer is present in 107
locations across the country with access to over 100 million customers and has distribution network
through more than 11,000 bank branches. ESAF Small Finance Bank is the newest addition to the list which
includes Punjab National Bank, Karnataka Bank and Jammu & Kashmir Bank.