MetLife will provide financial support to managers of its exclusive agent teams in Portugal to open their own agencies, ECO News reports.

The launch of the new initiative will be marked by the opening of new facilities at the insurance company’s headquarters in Lisbon.

The headquarters on Avenida da Liberdade will serve as a local agency and incubator for the project, with plans to gradually expand the initiative across the country.

In addition to providing financial support for opening new agencies, the model also includes assistance with training, technology, and brand development.

Strengthening the insurance network

According to Ricardo Sánchez Pato, general manager of MetLife Iberia, the model aims to accelerate the insurer’s growth in Portugal and bring the brand closer to customers by strengthening its direct distribution network, ECO News reports.

Ana Araújo, director of agencies in Portugal, said the measure gives team managers “greater operational flexibility to manage their businesses.”

“The new model reflects MetLife’s ambition to grow in Portugal and to continue investing in those who build relationships with customers every day,” Araújo said.

MetLife was founded in the United States in 1868 and operates in more than 40 countries. It currently has approximately 200 exclusive agents in Portugal working across the life, health, and personal accident insurance sectors.

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