
India Post Payments Bank (IPPB) has entered into a strategic partnership with PNB MetLife India Insurance Company Limited (PNB MetLife) to offer life insurance solutions to millions of people across India. The collaboration aims to make life insurance accessible to every household in the country, leveraging IPPB’s vast network.
The partnership combines PNB MetLife’s wide range of life insurance products with IPPB’s extensive banking network, which includes 650 outlets and serves over 110 million customers. The goal is to promote financial inclusion and help people across India achieve their dreams through secure life insurance options.
Key Highlights of the Partnership
R. Viswesvaran, the Managing Director and CEO of India Post Payments Bank, emphasized the bank’s commitment to providing inclusive financial services. “India Post Payments Bank was established with the aim of delivering accessible financial services across India. Our partnership with PNB MetLife allows us to offer a wider selection of life insurance products, helping to build a secure financial ecosystem for our customers,” he said.
PNB MetLife’s Managing Director and CEO, Sameer Bansal, also shared his enthusiasm about the collaboration. “This partnership is more than just a business deal—it’s about making life insurance available to everyone in India. We believe that life insurance is not just a product, but a promise of security for families. Together, we are taking steps to enhance financial inclusion,” he stated.
About India Post Payments Bank (IPPB)
IPPB, which was launched on September 1, 2018, under the Department of Posts, is fully owned by the Government of India. The bank’s primary mission is to serve the unbanked and underbanked populations, particularly in rural areas. IPPB’s vast network includes over 1.63 lakh post offices, with 1.43 lakh located in rural regions, and employs more than 190,000 postal workers.
About PNB MetLife
PNB MetLife India Insurance Company Limited is one of India’s leading life insurance providers. It combines the strength of MetLife, Inc. with the credibility of Punjab National Bank (PNB), one of the country’s oldest nationalized banks. PNB MetLife operates across 155 branches and has partnerships that provide access to customers at over 19,000 locations as of November 2024. The company offers a broad portfolio of products, including plans for child education, family protection, long-term savings, and retirement.
With over 28,000 financial advisors and a wide network of bank partners, PNB MetLife aims to provide comprehensive insurance solutions to more than 521 group relationships in India.
This partnership between IPPB and PNB MetLife marks a significant step toward improving financial security and inclusion for families throughout the country.