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's subsidiary, Metropolitan Tower Life Insurance Company, has secured an agreement with Lockheed Martin to manage annuity benefits for approximately 13,500 retirees, covering pension obligations of about $1.4 billion. This marks the second pension risk transfer transaction between the two firms, following a $1.9 billion agreement in 2019. The arrangement ensures the retirees will continue receiving their benefits without any changes. MetLife manages around $3 billion annually for about 720,000 annuitants, reinforcing its position as a leader in the pension risk transfer market.
MetLife's subsidiary, Metropolitan Tower Life Insurance Company, has entered an agreement with Weyerhaeuser Company to provide annuity benefits for nearly 5,200 retirees under Weyerhaeuser's defined benefit pension plan, totaling approximately $765 million. This partnership aims to offer guaranteed lifetime income, thereby reducing Weyerhaeuser's pension risk exposure. The deal, closed in December 2020, will not alter monthly benefits for retirees. MetLife, recognizing its 100 years in group annuity contracts, manages about $3 billion in benefit payments annually for 720,000 annuitants.
MetLife, Inc. (NYSE: MET) has appointed Merrilee Matchett as Executive Vice President and Head of Global Customer Service & Operations, effective March 29, 2021. Reporting to Bill Pappas, Matchett brings extensive experience from Bank of America, where she managed operations for wealth management and personal retirement businesses with over $3 trillion in client balances. Her strategic, customer-centric approach aims to enhance service excellence at MetLife. Matchett is an advocate for diversity in financial services and holds a B.A. in management from the University of Canberra, Australia.
MetLife has appointed James Reid as the new CEO of Versant Health, effective April 1. Reid brings over 30 years of insurance industry experience, including leadership roles at MetLife and Aetna. He is expected to drive growth and innovation at Versant, which serves over 35 million members nationwide. Reid succeeds Kirk Rothrock, who is retiring after successfully consolidating multiple vision care companies into Versant over the last eight years. The transition aims to maintain Versant's growth momentum and customer focus.
Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, has successfully completed four longevity reinsurance transactions with Legal & General, covering approximately $2 billion in pension liabilities. This strategic partnership aims to assist Legal & General in managing longevity risk effectively. Jay Wang, senior vice president at MetLife, expressed enthusiasm for this collaboration, highlighting the strong potential for future growth in the U.K. pension and longevity risk transfer market.
MetLife, Inc. (NYSE: MET) has declared a common stock dividend of $0.46 per share for the first quarter of 2021. This dividend is scheduled for payment on March 15, 2021, to shareholders on record as of February 5, 2021. Established in 1868, MetLife is a leading global financial services firm, offering various products including insurance and asset management across more than 40 markets.
MetLife, Inc. (NYSE: MET) will hold a fourth quarter and full year 2020 earnings conference call on February 4, 2021, from 9-10 a.m. ET. The earnings news release and related financial materials will be available on February 3, 2021, after market close. This call will detail the company's financial results, business operations, and future outlook. Interested participants can join via telephone or through the internet. A replay of the call will be available from February 4 to February 11, 2021. For further details, visit MetLife's Investor Relations website.
MetLife Investment Management (MIM), the asset management division of MetLife (NYSE: MET), announced a $130 million investment in the senior secured private placement financing of Brookfield Renewable Partners' Sidney A. Murray, Jr. Hydroelectric facility in Louisiana. This investment, part of a total $560 million financing, includes $74 million for unaffiliated clients and supports Brookfield's renewable energy initiatives. MIM manages a $94.1 billion private placement debt portfolio and emphasizes its commitment to environmental sustainability, aligning with its long-term goals.
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” for Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company. Additionally, AM Best upgraded the FSR for MetLife’s dental and vision subsidiaries to A+ (Superior) from A (Excellent), reflecting strong operational performance and strategic importance within MetLife's portfolio. With a stable outlook for all ratings, this solidifies MetLife's strong market position and financial resilience.
FAQ
What is the current stock price of MetLife (MET)?
What is the market cap of MetLife (MET)?
What is MetLife, Inc.?
When was MetLife founded?
How many customers does MetLife serve?
In how many countries does MetLife operate?
What are the main business segments of MetLife?
What percentage of MetLife’s earnings comes from the US segment?
What recent achievements has MetLife made?
Is MetLife committed to diversity and inclusion?
Where can I find more information about MetLife?
What is MetLife's financial condition?
