MetLife's insurance business in the Asia-Pacific region grew by 10 per cent in 2007.
The growth was predominantly due to MetLife's bancassurance business; the selling of insurance through a bank.
In India the firm beefed up its bancassurance business through distribution agreements with Axis Bank and Barclays Bank.
"Winning this business was important for MetLife as regulation in India requires its banks to have only one business partner," MetLife head of Asia-Pacific, Tracey Perkins said.
Korea was another country that provided growth for the global insurer.
Sales increased by 60 per cent with the business growing its institutional, retirement and savings products.
"Korea is a key market for us in the Asia-Pacific region, it is the second largest international market for us," Perkins said.
Perkins attributes the growth to recognition of banks by consumers in the region.
"Consumers are increasingly viewing banks as a trusted financial adviser," she said.
In Australia, the firm grew its institutional business by 30 per cent in 2007 as a result of aligning its insurance arrangements with existing superannuation funds including MTAA and First State Super.
