MetLife - MET STOCK NEWS

MetLife (NYSE: MET) announced leadership changes effective July 1, 2022. Kishore Ponnavolu, Regional President for Asia, will step down on June 30, 2022, after over a decade of service. He is succeeded by Lyndon Oliver, who brings over 30 years of insurance experience. John Hall is promoted to Executive Vice President and Treasurer, while Dimitri Lorenzon becomes head of Strategy and CFO for Global Technology & Operations. Danny Garver will lead the Next Gen initiative. CEO Michel Khalaf expressed confidence in the new leadership to drive customer and shareholder value.

MetLife, Inc. (NYSE: MET) has announced the appointment of Carla Harris to its board of directors, effective April 27, 2022. Harris brings over 35 years of experience from Morgan Stanley, where she was a senior client advisor and co-portfolio manager. Her extensive background includes leading equity capital markets efforts and executing notable IPOs in various sectors. MetLife's board will now consist of 13 directors, 12 of whom are independent. The leadership believes Harris's expertise will bolster their Next Horizon strategy aimed at enhancing long-term stakeholder value.

MetLife Investment Management (MIM) reported a record $6 billion in agricultural mortgage loans for 2021, surpassing its previous record by 20%. This achievement increased MIM's agricultural mortgage loan assets under management to $22.9 billion, solidifying its position as the largest non-government source of agricultural mortgage capital. MIM's team, focused on supporting borrowers' capital needs, has strengthened its market position by delivering tailored financial solutions to agricultural producers amid favorable economic conditions.

MetLife Legal Plans (MLP) celebrates its 25th anniversary, serving over 5 million users and 4,000 employers. The company focuses on making legal services accessible, implementing innovations like Digital Estate Planning with video notary in 23 states. Executives highlight increasing interest from employees and employers in legal benefits, indicating a robust growth in the sector. MLP continues to adapt to technology trends, enhancing traditional offerings with modern services, and serves over 220 Fortune 500 companies with a national attorney network of over 18,000.

The MetLife Foundation has committed an additional $1 million to the UNCF for scholarships at Historically Black Colleges and Universities (HBCUs), completing its $5 million racial equity initiative announced in 2020. This was revealed by CEO Michel Khalaf at the 2022 UNCF annual gala. The grant will establish the MetLife Foundation Legacy Endowment Scholarship, aiming to support African American students in business fields. MetLife also unveiled new diversity, equity, and inclusion (DEI) goals, including a commitment of $1 billion in investments for minority-owned firms by 2030.

MetLife (NYSE: MET) has announced over $2.5 billion in commitments to enhance diversity, equity, and inclusion (DEI) by 2030. This initiative includes investments in businesses owned by women and minorities, substantial spending with diverse suppliers, and support for underserved communities. Key goals encompass $1 billion in investments, $5 billion in diverse supplier spend, and 800,000 volunteer hours. These commitments align with MetLife's sustainability efforts and aim to create a more inclusive society.

MetLife's 20th annual U.S. Employee Benefit Trends Study reveals that Zillennials (aged 23-28) are dissatisfied at work, with 53% citing unfulfilling jobs as a top stressor. This micro-generation, which has grown by over 5 million in the last five years, is pushing for a workplace that aligns with personal values, demanding purpose-driven environments and enhanced mental health support. The study highlights the importance of holistic benefits packages, as 27% of Zillennials considered leaving their jobs for better benefits. As they reshape workplace expectations, employers must adapt to avoid losing this critical workforce segment.

MetLife Pet Insurance has launched a new rewards program in partnership with LifeBalance, providing pet parents with discounts on essential pet care services. Annual pet care spending exceeds $4,500, as reported by MetLife and OnePoll. Eligible policyholders can redeem up to five rewards per year, with a maximum value of $25 each, helping to manage pet-related expenses. This initiative aims to enhance the value of MetLife's pet insurance offerings, reinforcing their commitment to supporting pet health and easing financial burdens for pet owners.

MetLife, Inc. has launched a new Structured Installment Sale solution through its subsidiary, Metropolitan Tower Life Insurance Company, available in 49 states, Puerto Rico, and Washington, D.C. This innovative solution enables individuals to defer tax liabilities on eligible property sales, facilitating installment payments over a specified period instead of a lump sum. The product aims to secure financial stability for sellers by converting sales proceeds into a guaranteed income stream, mitigating market volatility risks. MetLife's extensive experience enhances its position in this new market.