UK high street banking giant Barclays has entered into an agreement with Metlife India Insurance Company to establish a bancassurance tie-up in India, The Economic Times reported.

Under the terms of the agreement, the insurance company will sell its products to the bank’s customers through Barclays’s banking network, which has recently commenced retail banking transactions in three of the country’s cities, Mumbai, Kanchipuram and Nelamangla, reported The Financial Express.

The tie-up with Metlife will address our clients’ need for a comprehensive range of best-in-class, need-based life insurance solutions, said Barclays India managing director Samir Bhatia, as cited in The Economic Times.

The Economic Times reported Metlife’s managing director Rajesh Relan as saying that, at present, Metlife’s products are available at more than 500 bank branches in the country, through partnerships with Jammu and Kashmir Bank, UTI Bank, Karnataka Bank and Dhanalakshmi Bank.