Srinagar: Metlife India Insurance Company today celebrated the formal opening of its new Srinagar Branch office, at MA Road, with a ribbon-cutting ceremony. The event included speeches by J&K Bank chairman M Y Khan, Metlife USA vice-president (sales and marketing) Stephen Rajotte and Metlife India managing director Venkatesh Mysore.

The Metlife office provides support to its partner J&K Bank and the residents of Srinagar to promote and sell life insurance products. Metlife recently initiated several insurance education seminars in the Kashmir Valley to demystify life insurance and make its benefits known to people in rural areas.

Metlife currently offers 13 products including the successful Met 100, Met Sukh and Met Mortgage Protector. In addition four riders (Accidental Death Benefit Rider, Waiver of Premium Rider, Critical Illness Rider and Term Rider) are obtainable to permit customisation.

"We believe that the valley of Kashmir offers great business opportunities and we look forward to making it more convenient for its residents to obtain high-quality life insurance and financial advice," said Rajotte.

"This new office demonstrates Metlife India's commitment to serving the insurance needs of the people of J&K state and reaching out to the rural population," said Mysore.

"We are happy to see Metlife India open a full-service office in Srinagar," said Khan. "Metlife India also has a support office in Jammu to service our clients in the Jammu region. With their advanced technology and the comprehensive product offerings, we hope to provide our customers in J&K a world-class insurance experience."

Metlife India Insurance Company Pvt Ltd is the Indian affiliate of Metropolitan Life Insurance Company (Metlife), the number one life insurer in the US based on approximately $2.4 trillion in life insurance in-force as of 31 December 2002. Metlife India was incorporated in April 2001 as a joint venture between Metlife International Holdings Inc, the Jammu & Kashmir Bank, M Pallonji and Co Pvt Limited and other private investors.

Metlife India benefits from its affiliated company's 135-year-old expertise and track record of establishing successful operations in emerging markets, in addition to the unique strengths of its Indian promoters. It offers a range of innovative products and aims to build financial freedom for everyone. Metlife is headquartered in Bangalore and has offices in nine cities and additional 1,000-outreach points through its distribution channel partners.

J&K Bank distributes life products of Metlife India and non-life products of Bajaj Allianz. Through such and other services, J&K Bank's branches have been transformed into financial super-markets.