Metlife plans to sell 15,000 policies this year

Kolkata, January 24: | Updated: Jan 25 2002, 05:30am hrs
Metlife India Insurance Company Private Ltd, a joint venture among Metlife International Holdings Inc, J&K Bank, and the M Pallonji Group, on Thursday said it was planning to sell 15,000 policies in the first year of its operation with a view to the premium income between Rs 15 and 18 crore.

"Our business plan envisages increasing base capital to Rs 450 crore over next five to six years from Rs 110 crore at present, but everything will depend on business that we generate," Metlife India managing director Venkatesh S Mysore, told reporters here while announcing the launch of their Kolkata operation.

The company, which commenced operation on January 4 last in Bangalore, has already sold a good number of policies within a short duration of 20 days, he said. PTI