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Metlife to shore up capital
NEW DELHI: Announcing the decision to double the number of cities from where it is now operating, Metlife India said it would infuse Rs. 75 crores to shore up its paid up capital as it hopes to register 270 per cent growth in its premium income to Rs. 70-75 crores over the current fiscal. "We will be collecting premium in the range of Rs. 70-75 crores in the fiscal ending March 2005 while it would be to the tune of Rs. 65 crores in the calendar year 2004," the Metlife India Managing Director, Venkatesh Mysore, told media persons here today.Suraj Kaeley, Chief Marketing Officer, Metlife, said that India for them was a focus market since in the U.S., where it was a leading player having already tapped 88 of the Fortune 100 companies and 22 per cent group insurance of the American government, the market was not growing. — Our Special Correspondent
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