Early Times Report
Jammu, May 15: Private sector player, PNB MetLife India Insurance Co Ltd (PNB MetLife) has reported a net profit of Rs 192 crores in FY 2013-14 against Rs 108 crores in FY 2012-13. This is their fourth consecutive year of declaring profits. Ranked amongst the top 10 private players, PNB MetLife's market share increased to 3.2% in FY 2012-13 from 3% in the corresponding period last year on Adjusted New Business Premium (ANBP) basis, a spokesperson stated. Speaking on the occasion to mark the unique distinction, Tarun Chugh, MD & CEO, PNB MetLife said, "The profitability has been as a result of operational efficiencies and higher sales from long-term regular premium products (close to 90% of our portfolio)." "We aim to be among the top players in terms of Customer Centricity covering products, process designs and sales and on-boarding experience for the customer, he said and added, "our objective is to grow our top-line without comprising on the profitability." He added, "The Company has also defined a CSR budget for FY 2014-15 based on an average of last 3 years profit aligned to the requirements of the CSR Bill. Our CSR strategy is focused on community development through financial inclusion, health and education initiatives in the country." To inculcate the culture of need based selling, the Company has developed an exciting campaign with its partners - PNB MetLife Circle of Trust addressing four financial needs of a customer - Family Protection, Wealth Management, Child Education and Retirement. |
