MetLife, Inc. - MET STOCK NEWS

MetLife, Inc. (NYSE: MET) announced that its subsidiary, Metropolitan Life Insurance Company, will assume $190 million of Avaya's post-retirement life insurance obligations for about 8,000 retirees. The arrangement ensures that retirees' benefits remain unchanged, and MetLife will handle costs, benefit payments, and recordkeeping. This move is intended to reduce Avaya's financial liabilities while securing retiree benefits. MetLife has over 60 years of experience in retiree life insurance funding solutions and maintains a longstanding relationship with Avaya.

MetLife, Inc. (NYSE: MET) will hold its third quarter 2021 earnings conference call on November 4, 2021, from 9-10 a.m. (ET). This follows the release of its third quarter earnings news release and Financial Supplement on November 3, 2021, after market close. The call can be accessed via telephone or the internet through the MetLife Investor Relations web page. A replay will be available from 11:00 a.m. (ET) on November 4 until November 11, 2021. For more details, visit MetLife's website.

MetLife's 2021 Pension Risk Transfer Poll reveals a significant rise in the intention among plan sponsors to divest their defined benefit (DB) pension plan liabilities, increasing from 76% in 2019 to 93% in 2021. Key drivers for this trend include interest rates (61%) and market volatility (47%). Notably, 91% of sponsors are evaluating their DB plan's value against associated risks. The pandemic has not hindered PRT plans, with 42% of sponsors stating it has accelerated their intentions. MetLife continues to lead in the pension risk transfer market, managing approximately $3 billion in benefit payments annually.

MetLife International Holdings has signed a share purchase agreement to acquire a combined 15.27% stake in PNB MetLife India Insurance Company Limited from IGE (India) Private Limited and Elpro International Limited. The acquisition will increase MetLife's ownership in PNB MetLife to 47.325%.

This move underscores MetLife's commitment to strengthening its position in the rapidly growing Indian insurance market, which serves over 200 million customers through 15,000 sales locations. The transaction is awaiting regulatory approvals.

MetLife, Inc. (NYSE: MET) has been recognized for the 23rd consecutive year on Seramount's lists of the '100 Best Companies' for working parents and 'Best Companies for Dads.' The recognition highlights MetLife's commitment to supporting working families through comprehensive policies and programs. This year, the company particularly emphasized initiatives for working dads. Key offerings include enhanced wellness programs, flexible work arrangements, and paid parental leave. The lists assess various factors like paid leave, childcare benefits, and support during COVID-19.

MetLife's recent survey reveals that 81% of U.S. millennials plan significant life changes in the next year, including buying homes and changing careers. The pandemic has notably delayed 44% of their plans. Financial anxiety is prevalent, with over half feeling uncertain about their future. Open enrollment is more significant this year for millennials, with 87% expressing interest in new benefits like life insurance and financial planning tools. Employers are expected to offer support for these changes, highlighting the evolving needs of this generation.

MetLife, in collaboration with the New York Jets and New York Giants, has launched the MetLife All-Pet Team contest starting September 26 through October 24. Pet owners can submit photos and descriptions to feature their pets as top players for a chance to win tickets to a game and other prizes. The contest emphasizes the bond between pets and their owners in the context of football culture. Additionally, MetLife Pet Insurance provides various benefits for pet health, including short wait periods for coverage and telehealth services.

MetLife Bangladesh and Citibank have launched the first Host-to-Host (H2H) payment processing platform in Bangladesh, utilizing the Central Bank's Electronic Fund Transfer Debit network. This innovative platform allows consumers to pay insurance premiums directly from their bank accounts, enhancing payment efficiency for over 1 million MetLife customers. The technology integration was facilitated through Citi's CitiDirect BE online banking platform, aiming to strengthen payment channels for customers preferring electronic transactions.

MetLife has launched Upwise™, a new free mobile app aimed at helping consumers manage financial stress. According to a recent study, 86% of working consumers identify finances as a significant stressor. Upwise™ connects users’ emotions with financial habits, offering tools like a Money Mood assessment, budgeting assistance, and subscription management. The app provides personalized challenges and recommendations to boost financial wellness. Employers are encouraged to include Upwise™ in their wellness offerings, as financially healthy employees are 37% more productive.