MetLife Increases Stake in Its Leading Life Insurance Joint Venture
Summary
The Dabriwala family, through their companies, IGE and Elpro, is one of the initial investors in PNB MetLife, a leading life insurance franchise in India with access to more than 200 million customers across 15,000 sales locations nationwide. Our involvement in PNB MetLife is part of a long tradition at Elpro of working with leading multinational partners in India, including in past ventures with GE and FANUC. We now look forward to our next phase of growth and development where we will continue to be a leading partner of choice providing long term patient capital to some of the best businesses in India.” MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ("MetLife"), is one of the worlds leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. Post GEs divestment in 1997, the flagship company in IGE Indias portfolio has forayed into retail, real estate, and R&D centers for the automobile sector.