Welcome to our dedicated page for MetLife news (Ticker: MET), a resource for investors and traders seeking the latest updates and insights on MetLife stock.
MetLife, Inc. (NYSE: MET), established in 1868, is one of the world’s largest life insurance companies. Headquartered in New York, MetLife operates through its subsidiaries and affiliates to provide a wide range of financial services, including life insurance, annuities, employee benefits, and asset management. Serving approximately 100 million customers, MetLife has a presence in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe, and the Middle East.
Core Business: MetLife's business is organized into five primary segments: US, Asia, Latin America, EMEA (Europe, Middle East, and Africa), and MetLife Holdings. The US segment, which includes group benefits and retirement solutions, contributes around 50% of the company's earnings. The Asia segment, primarily driven by operations in Japan, and increasingly in India, China, and Bangladesh, contributes about 22% of earnings. The Latin America segment, with strong positions in Mexico and Chile, contributes about 13% of earnings, while the EMEA and MetLife Holdings segments contribute approximately 4% and 11% respectively.
Recent Achievements and Current Projects: MetLife has been expanding its digital capabilities and enhancing its customer experience through technology-driven solutions. The company has introduced several innovative products and services aimed at providing comprehensive life insurance and financial planning solutions. In addition, MetLife has formed multiple strategic partnerships to strengthen its market presence worldwide.
Financial Condition: MetLife is financially robust, consistently demonstrating strong performance and stability. The company has a well-diversified portfolio and a solid balance sheet, which enable it to navigate market fluctuations effectively. MetLife’s commitment to maintaining financial strength is reflected in its consistent earnings and prudent risk management practices.
Diversity and Inclusion: MetLife is dedicated to fostering a diverse and inclusive workforce. The company is an equal opportunity/affirmative action employer and is committed to attracting, retaining, and maximizing the performance of a diverse and inclusive team. MetLife ensures equal employment opportunities without discrimination or harassment based on race, color, creed, religion, national origin, citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, and other protected statuses.
For more information, visit the official website: www.metlife.com.
MetLife announced that its subsidiary, Metropolitan Tower Life Insurance Company, has successfully closed its second and third longevity reinsurance transactions with Rothesay Life Plc, covering approximately $5 billion in pension liabilities. These transactions expand MetLife's footprint in the U.K. longevity reinsurance market, building on previous successes despite pandemic challenges. Jay Wang, MetLife's Risk Solutions head, emphasized the company's commitment to supporting the U.K. pension sector through innovative risk management strategies.
MetLife and Principal Financial Group have reached an agreement with Philips North America to transfer approximately $1.2 billion in pension obligations, benefiting around 11,000 pension plan participants. Under this arrangement, MetLife will serve as the lead administrator for monthly benefits for about 9,000 retirees, while Principal will manage responsibilities for 2,000 deferred participants. This collaboration aims to enhance financial security and confidence among retirees, ensuring they continue to receive their monthly pensions without changes.
MetLife Investment Management (MIM) has completed a $203.5 million Public-Private Partnership (PPP) transaction to fund the Prince George’s County Public Schools in Maryland. This marks one of the first PPPs involving a U.S. public school system. The funding will support the construction of six new schools, enhancing educational facilities for approximately 8,000 students. The project emphasizes local and minority business participation and is expected to create around 4,100 jobs. MIM manages $130.9 billion in private capital assets and $659.6 billion in total assets.
MetLife, Inc. (NYSE: MET) announced the declaration of dividends on several series of its preferred stock. The quarterly dividend for Series C is set at $9.47875, while Series D will provide a semi-annual dividend of $29.375. Series E and F will see quarterly dividends of $351.5625 and $296.875, respectively. Series G will offer a semi-annual dividend of $19.250, and Series A is anticipated to pay out $0.25000 per share, pending financial confirmation. All dividends are payable on March 15, 2021, to shareholders of record as of February 26, 2021.
MetLife Investment Management (MIM) has appointed Jingsu Pu as the global head of Insurance Strategy & Solutions and head of Institutional Client Group (ICG) for Asia, excluding Japan. Pu, who has extensive experience in the insurance sector, will lead MIM’s initiatives in strategic portfolios and client development in key Asian markets. His previous roles include managing Asia portfolio operations and a brief position as a chief investment officer in China. MIM manages $659.6 billion in assets and is focused on enhancing its asset management footprint in Asia.
MetLife's subsidiary, Metropolitan Tower Life Insurance Company, has partnered with Dow to manage annuity benefits for about 12,000 retirees and beneficiaries in Dow's pension plans, amounting to approximately $700 million. Dow trusts MetLife to provide guaranteed lifetime income. This action follows Dow's previous group annuity contract purchase in November 2020. Importantly, this agreement will not alter the monthly pension benefits for retirees, as Metropolitan Tower Life will handle payment responsibilities, ensuring retirees receive their entitled earnings without requiring any action from them.
MetLife, Inc. (NYSE: MET) reported its 2020 financial results, revealing a net income of $5.2 billion down from $5.7 billion in 2019. Adjusted earnings also fell slightly to $5.6 billion. The company's book value surged by 15% to $78.67 per share, buoyed by strong premium growth and disciplined expense management. In Q4 alone, net income dramatically decreased to $124 million, a 77% drop from $536 million in the previous year. However, adjusted earnings per share showed resilience with a 3% rise to $2.03. MetLife aims to maintain value creation through its Next Horizon strategy.
MetLife, Inc. (NYSE: MET) has released a financial update video by Executive Vice President and CFO John McCallion, detailing Q4 and full-year 2020 performance. The full press release and video are accessible on the company’s website. MetLife is a leading global financial services provider, offering a range of products including insurance and asset management, and operates in over 40 markets worldwide.
MetLife, Inc. (NYSE: MET) will feature CEO Michel Khalaf and CFO John McCallion in a fireside chat at the Bank of America 2021 Virtual Insurance Conference. The event is scheduled for February 10, 2021, at 10:40 a.m. (ET). A live audio webcast will be accessible online at this link, and listeners are advised to join 15 minutes early to prepare their systems. A replay of the chat will be available until February 17, 2021, at 11:59 p.m. (ET). MetLife operates globally in over 40 markets, offering diverse financial services.
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