KASB Funds Limited and American Life Insurance Company (Pakistan) Limited (MetLife Alico) marked the beginning of a business partnership by signing an investment agreement whereby MetLife Alico will be investing into Funds managed by KASB Funds Limited under its insurance policies.
The Agreement was recently inked by Arif S. Mufti, Chairman & Chief Executive Officer, MetLife Alico Pakistan Limited and Muhammad Imran Khalil, Chief Executive Officer, KASB Funds Limited.
"This strategic alliance will open up investment avenues and provide personalised and unique solutions to the regular investor, and consequently promote the growth of the Life Insurance and Mutual Fund industry in Pakistan," Muhammad Imran Khalil commented on the formalisation of the investment agreement.
Arif S. Mufti commenting on the occasion said that "MetLife Alico always look for creating synergies for the benefit of the industry and consumer at large; this alliance will bring valuable protection and distribution outreach of life insurance coupled with investment expertise of KASB at the doorstep of retail customers".
KASB Funds Limited manages a diverse portfolio of mutual funds investing across various asset classes such as Income, Islamic Income, Equity as well as Commodities. KASB Funds Limited is part of the KASB Group and has BlackRock Inc as one of its institutional shareholders. KASB Group includes KASB Bank, KASB Securities and KASB Modaraba.
MetLife Alico Pakistan is a subsidiary of MetLife, Inc MetLife, Inc is a leading global provider of insurance and financial services with more than 140 years of experience and operations throughout the United States, Latin America, Japan, Asia Pacific, Europe and Middle East. Through its subsidiaries and affiliates, MetLife, Inc reaches 90 million customers in over 60 countries, is the largest life insurer in the United States1 and Mexico2, and has relationships with more than 90 of the top 100 FORTUNE 500(r) companies3, and over seventy percent of all Fortune 500(r) companies.-PR
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