MetLife India plans to aggressively embark on a branch expansion programme and is eyeing a 275-strong network by the end of March, a top company official said.
"The domestic insurance market continues to be severely under-penetrated and we need to leverage this opportunity. We plan to increase our branches from the present 195 to 275 by March," MetLife India managing director Rajesh Relan told reporters here.
The company has, so far this fiscal, infused a capital of Rs 370 crore into the company which should suffice for present requirements, he said, adding the current capital base of the company is Rs 1,950 crore.
The company also plans to increase the strength of its financial advisors to over 1,00,000 by December, he said.
MetLife India is an affiliate of MetLife Inc, and was incorporated as a joint venture between MetLife International Holdings, Jammu & Kashmir Bank, M Pallonji and Co and other private investors.