M&A M&A
MetLife looking to acquire majority stake in insurance JV with PNB
Source Mint (opens in a new tab)
New York-based MetLife plans to acquire a majority stake and operational control in its Indian insurance joint venture with Punjab National Bank (PNB). The insurer currently holds a 49.73% stake in the entity, PNB MetLife India Insurance , and is actively seeking a path to exceed the 50% ownership threshold.PNB MetLife India Insurance provides life insurance products and operates through a distribution network involving partner banks, including PNB, Jammu & Kashmir Bank and Karnataka Bank.