Sameer Bansal Appointed CEO of PNB MetLife

PNB MetLife India Insurance has announced Sameer Bansal as its new Managing Director and Chief Executive Officer, effective from July 1, 2024. Bansal, currently serving as the Chief Distribution Officer, brings over 25 years of financial services experience to his new role. He will succeed Ashish Srivastava, who is transitioning to MD for MetLife Inc.’s Global Shared Services team in India.

Appointment and Background

Sameer Bansal, with a tenure dating back to 2007 at PNB MetLife, has been appointed as the MD and CEO, subject to regulatory approvals. He boasts extensive experience in financial services, particularly in leading various distribution channels such as Bancassurance, Agency, Digital, Employee Benefits, and Direct marketing.

Strategic Direction

Bansal aims to capitalize on the dynamic and competitive insurance market, focusing on delivering the company’s Circle of Life promise to customers. His leadership will steer PNB MetLife towards sustained growth and alignment with its purpose: “Milkar Life Aage Badhaein.”

Chairman’s Endorsement

Lyndon Oliver, the chairman of the board, expressed confidence in Bansal’s leadership, citing his industry knowledge and business acumen as assets for driving the continued success of PNB MetLife.

Financial Performance

PNB MetLife witnessed a 5.93% YoY growth in New Business Premium (NBP) in FY24, totaling Rs 3410.05 crore. This growth trajectory reflects the company’s robust market presence and customer-centric product offerings across various segments like Child Education, Family Protection, Long-Term Saving, and Retirement.