Metlife

Asia Pacific

US life insurer, Metlife is aiming for a 5% share of the Indian life market by 2010, according to a Reuters interview with the managing director of Metlife India. Metlife entered the market in January. Liberalised in 1999, the Indian market is still dominated by the state run Life Insurance Corporation of India with a 99% market share. However, the expectation is that the market will grow by 26% to 30% annually over the next three to five years. In addition to the protection and savings markets, Metlife will also concentrate on the employee benefits market. Other major life insurance groups in the market include AIG, Allianz, Standard Life and Prudential.