MetLife in JV with Karnataka Bank.
Economic Times (New Delhi, India), April, 2007
Apr. 28--BANGALORE, India -- At a time when the number of banking players is increasing by the day in the domestic bancassurance space, life insurance player MetLife believes that its partnership with Mangalore-headquartered Karnataka Bank Limited (KBL) would provide it enough ramp up opportunities.
Speaking at the launch of two new unit-linked products for KBL, Mr Rajesh Relan, MD of MetLife said:"We have the largest bancassurance network among all the arms of American insurance companies operating in India. This is a key channel for us as this alongwith agency force(insurance advisors) account for 90 percent of the business generated." It would be worth mentioning here that Mr Relan was earlier on with Aviva and was in charge of the bancassurance initiative....
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