Metlife insurance raise capital to Rs. 1,230 crore by 2009-10Metlife Insurance Company Ltd. wants to raise its paid-up equity capital by Rs.350 crore by the next fiscal year to a sum of Rs.1,230 crore. Plan to expand network.
Apnainsurance.com Research Bureau
21 Feb 2008
Metlife Insurance Company Ltd. wants to raise its paid-up equity capital by Rs.350 crore by the next fiscal year, summing it up to Rs.1,230 crore for their expansion plans.
Metlife has its presence in 66 cities with 111 branches. The strength of financial advisory team which was 8,500 (as in 2006) has been raised to 30,000 (as in December 2007).
The company also expects a significant growth in the gross premium income. The unit-linked insurance product's (ULIP) contribution towards the premium income was approximately 93 per cent.