PNB MetLife eyes 30% growth in first premium income

Kolkata: Life insurance firm PNB MetLife is expecting 30 percent growth in first premium income during the current financial year, a senior company official said on Wednesday.

"We are expecting a 30 percent growth in first premium income," the company's MD and CEO Tarun Chugh told reporters here.

In terms of total premium income (renewal and first), the company expects to garner around Rs 3,000 crore this fiscal.

The consistency ratio is going up while the complaints ratio is declining, Chugh added.

US-based MetLife is willing to increase its stake in the Indian joint venture from 26 percent to 49 percent, for which talks are already on among the promoters, he said.

Trickle Up, the CSR initiative of MetLife Foundation, is increasing its presence in terms of empowering rural poor by giving them grants for acquiring assets for sustenance.

The foundation targets to reach one lakh poor households in the states of West Bengal, Jharkhand and Odisha.

So far, the Trickle Up programme has reached 1,500 households in these states.