Metlife To Invest Rs 119cr For Expansion

Mumbai: MetLife India Insurance Company will be investing Rs 119 crore by December-end for meeting the solvency requirements and expanding its reach. After the investment, the capital base of the company will be Rs 880 crore. MetLife Insurance Company has increased its market share from 1.7 per cent last year to 2.3 per cent this year. In two to three years, MetLife may look at establishing a non-life insurance company in India, besides setting up a standalone health insurance company and foraying the pension business. At present, MetLife has general insurance companies offering auto and home insurance in Korea and Taiwan. It has a standalone health insurance company in Mexico. MetLife India is a subsidiary of MetLife Inc, a leading provider of insurance and financial services with operations throughout the US and Latin America, Europe and Asia-Pacific regions.