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RECOMMENDATION

Neutral

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RATING

RECOMMENDATION

Neutral

Business Type

Traditional Business

Discover and get a complete analysis on Pnb Metlife Pre IPO - Management, Business Model, Financials, Growth, Valuations, Funding Rounds, News and get latest updates on Pnb Metlife Financial Statements.

ISIN

INE207O01014

Face Value

₹10.00

Total Share

2,01,28,84,283

Total Income

₹9,619.52 Cr

Profit After Tax

₹101.10 Cr

EPS

₹0.50

P/E

124.00

P/B

6.19

Market Capitalisation

₹12,479.88 Cr

Book Value

₹10.01

Intrinsic Value

₹41.52

Earnings Yield

0.81 %

Sector

Financials

Sub-sector

Insurance

Category

Upcoming IPO

Cashflow - Operations

₹1,851.90 Cr

Pnb Metlife Growth

Compounded Sales Growth

  • 64.31%

    1 Year

  • 21.65%

    3 Year

  • 25.40%

    5 Year

Pro Only

Compounded Profit Growth

  • 8.97%

    1 Year

  • -10.64%

    3 Year

  • 8.35%

    5 Year

Pro Only

Return On Equity

  • 5.02%

    1 Year

  • 6.67%

    3 Year

  • 3.01%

    4 Year

Pro Only

About Pnb Metlife

  • PNB Metlife is the one of leading life insurance provider with plans ranging into family protection ,retirement and child protection plans.
  • It has established international financial institutions such as PNB, American Express Banking Corp , Bank of Bahrain & Kuwait B.S.C, ShinHan Bank and regional banks such as Karnatka Bank,Dakshin Bihar Gramin Bank, Sarva Haryana Gramin bank as some of their distributors
  • The company has a higher penetration in Karnataka ,Maharashtra Uttar Pradesh ,Punjab and Delhi with premium collected worth Rs. 665 crore with total sum assured amount of Rs. 20,139 crores during the year. 
  • The brand ambassador of PNB MetLife is PV Sindhu, Indian ace badminton shuttler (Silver Medalist,Olympic Games)
  • PNB MetLife India Insurance Company Limited was incorporated in Bengaluru on April 11, 2001. It is joint venture between Punjab National Bank(India) and MetLife International Holding LLC (USA).

  • Pnb Metlife IPO Details

  • In July 2018, company filed DRHP with SEBI for listing. They were offering 495,898,076 Equity Shares of face value of ₹ 10 each.
  • In May 2019, CEO of PNB MetLife told that company is waiting for their banks to tell the right time in terms of market conditions for the IPO. They were deciding to dilute around 25% stake in the process.
  • According to company's statement in 2019, they were planning to get listed in FY20-21. But as of now there is no information regarding the same.

  • Pnb Metlife Merger & Acquisition

Acquisition

  • Metlife International Holdings LLC entered into an agreement to acquire an additional 15.27% stake in PNB metlife from Elpro International Limited and IGE Pvt Ltd on October 4, 2021. Post completion Metlife International Holdings LLC  will hold 47.325% stake of PNB Metlife.
  • Oman India Joint Investment Fund managed by Oman-India Joint Investment Fund Management Company completed the acquisition of 2% stake in PNB Metlife India Insurance Company Limited from The Jammu and Kashmir Bank Limited for INR 1.9 billion on Mar 29, 2019. Oman India Joint Investment Fund has acquired  41.1 million  share of PNB Metlife.
  • An undisclosed buyer completed the acquisition of 1.33% stake in PNB Metlife India Insurance Company Limited from Elpro International Limited for INR 1.3 billion, on August 17, 2018. 
  • PNB agreed to acquire 30% stake in PnB Metlife on Sep 5, 2012 from the shareholders of Metlife India. On Jan 4, 2013 transaction was approved by IRDA.
  • Pnb Metlife Revenue Segmentation

  • Other Income
  • Income from investments
  • Premium
  • Pnb Metlife Product & Services

Family Protection plans

  • PNB MetLife Mera Term Plan
  • Mera Mediclaim PlanProtection plans
  • PNB MetLife Mera Jeevan Suraksha Plan
  • PNB MetLife Aajeevan Suraksha
  • Long term service plans
  • PNB MetLife Smart Platinum Plus
  • PNB MetLife Smart Platinum
  • PNB MetLife Guaranteed Future Plan
  • PNB MetLife Mera Wealth Plan

Child plans:

  • PNB MetLife Guaranteed Future Plan
  • PNB MetLife Super Saver Plan
  • PNB MetLife Guaranteed Income Plan
  • PNB MetLife Guaranteed Savings Plan

Retirement plans:

  • PNB MetLife Guaranteed Future Plan
  • MetLife Retirement Savings Plan
  • PNB MetLife Immediate Annuity Plan
  • PNB MetLife Super Saver Plan
  • Pnb Metlife Assets

  • Company owns computer software of worth 150.96 Cr.
  • Company owns Building of 24.43 Cr.
  • Company owns vehicles and office equipment of worth around 14.04 Cr.
  • Company owns IT equipment of worth 100.55 Cr.


  • Pnb Metlife Industry Overview

Industry Statistics

  • The insurance industry is critical for any country’s economic development. A well-developed insurance sector boosts risk-taking in the economy, as it provides some security in the event of an unforeseen, loss-causing incident.
  • In India, the life insurance industry has grown rapidly in the past two decades. Rising household savings and income levels, growing awareness, tax benefits, product innovation and customization have contributed to this growth. 
  • There are currently 57 insurance companies in India, of which 46 are from the private sector. There are 24 life insurance and 33 non-life insurance companies in India.
  • In FY 2020-21, the life insurance in India continued to be one of the fastest-growing segments with gross total premium reaching Rs. 6.1 Trillion, growing at 11% CAGR during FY 2016-21.
  • The life insurance market in India was valued at INR 4,185 Bn in FY 2017 and is likely to expand at a compound annual growth rate (CAGR) of 11.6% during FY 2018 to FY 2023.
  • FY21 saw surge in demand for guaranteed products as interest rates declined and for protection business as market volatility impacted linked business.
  • This fiscal, amid the COVID-19 pandemic, the new business premium (NBP) witnessed a temporary slump as the cash position of people has been unstable. Despite this, the inclination of people to avoid unforeseen risks amid COVID-19 and increasing penetration of the products in the online market caused NBP to grow 7% to Rs. 2.78 Trillion in FY 2020-21 compared with Rs. 2.58 Trillion in FY 2019-20. This growth was significantly lower than the 21% growth in FY 2019-20.
  •  

Future Prospects

  • With increasing internet and mobile penetration, digitization of life insurance products and development into a web-based/app-based models is likely to play a greater role in driving scalability and reducing costs.
  • India has one of the world’s largest youth population with nearly 53% below the age of 29 and 90% below 60 years. This is a huge pool of working age people who will potentially insure themselves to protect their families.
  • As per CRISIL, during FY 2022-26, the industry’s total premium is likely to grow at a CAGR of 12-14% and NBP at 15-17%.

Government Initiatives

  • As per company the Union Budget 2021-22’s proposal to increase the FDI limit in Indian insurance companies from 49% to 74% is likely to attract foreign investment. This will aid insurance penetration by facilitating funds for companies to expand and lead to more choices for consumers.
  • Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) is a universal social security system, especially for the poor and the under-privileged, It is a one-year renewable life insurance scheme. Offering a cover of Rs. 0.2 Million at a nominal premium of Rs.330 per annum per member, it is seeing increased acceptance and driving penetration.
  • The Government has raised its healthcare budget by 10% for FY 2020-21 to Rs.690 Billion and intends to increase its healthcare spending to 2.5% of GDP by 2025 under the National Health Policy 2017. This is likely to boost health coverage in the coming years. 

Pnb Metlife Awards & Achievements

  • Best Brands 2020 for the second year in a row by The Economic Times.
  • Virtue Funds ranked among top 10 by globally renowned fund rating organization.
  • HR Excellence Awards 2020 – Certificate of Recognition for leading practices in Health & Well-Being and Diversity & Inclusion by People First.
  • Data Driven Marketing – Gold at the 9th Global Customer Engagement Awards 2020, by ACEF and Bronzeat Indian Digital Marketing Awards 2020, by Exchange4Media.
  • Initiative of the Year for 2020 by Indian Legal Awards

Pnb Metlife Strengths

  • PNB MetLife is one of the Top 6 life insurance companies of India
  • Strong brand name with diversified products and services and providing almost all kind of Life insurance plans with 11,000 and strong rural presence
  • Strong parentage, built on MetLife’s global expertise and PNB’s vast distribution network in India. Multi-channel distribution structure with over 37% of business coming from non-banking channels.
  • Company have tie-ups with 10 Insurance Marketing Firm (IMF) and 73 brokers as of 31st March 2021 which is further helping us reinforce our distribution network.
  • Claim and settlement are super easy because of personal assistance and non-involvement of third party.
  • Their total Premium increased by 10% and total NBP increased by 12% in FY 2020-21 compared to FY 2019-20.
  • Company try its best to support their employees, they launched digital platform to strengthen governance viz. the compliance management system and the litigtion management system which ease the work and helped them work digitally. Even Launch of Business Continuity  Management system also helped employees to deliver their commitments.

Pnb Metlife Shortcomings

  • Available solvency margin to Required solvency margin of PNB Metlife Life, which is metric of solvency for insurance companies has not shown any improvement over the last 4 years, currently at 189% which is below from the level of 211% in FY 2016.
  • Expense of Management to Gross Direct Premium ratio of PNB MetLife is at 22% ,which is higher than industry average of 15%

Pnb Metlife Opportunities

  • The healthcare industry is evolving with technology advancements which ensures faster and reliable services. This is likely to enhance reach and quality of healthcare delivery systems and improve efficiency of healthcare delivery providers with better resource planning and patient record maintenance. 
  • In the coming years, the advent of 5G, smartphone penetration and increasing health awareness is likely to enhance digital healthcare penetration and improve mortality rate.

Pnb Metlife Threats

  • While the Indian economy is gradually recovering from the second wave of COVID-19, consumers continue to face challenges of unemployment and income loss, impacting their appetite to buy life insurance and annuity products.
  • Social distancing and government restrictions have impacted new business applications and underwriting of life insurers as such activities were highly dependent on in-person contact. 
  • Rural participation of insurers remains deficient, and life insurers, especially private ones, gravitate towards the urban population.
Pnb Metlife Rating

  • RECOMMENDATION

    Neutral

  • Pnb Metlife Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

last Updated

25/11/2021

Registered Date

11/04/2001

Planify Ticker

PNBMET

Reg Office: Unit No. 701, 702 & 703, 7th Floor, West Wing Raheja Towers, 26/27 M G Road, Bangalore - 560001, Karnataka

Website: http://www.pnbmetlife.com