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, Inc. (NYSE: MET) announced a new $3 billion stock repurchase program, following the completion of its previous authorization. CEO Michel Khalaf emphasized the company's commitment to capital management, highlighting that despite challenges, they expect to invest $3 billion in new business and $1.7 billion in growth-oriented M&A by year-end. Furthermore, they plan to return at least $2.6 billion to shareholders through dividends and share buybacks, while maintaining a strong liquidity buffer.
MetLife (NYSE: MET) has agreed to sell Metropolitan Property and Casualty Insurance Company and its subsidiaries to Farmers Group, a subsidiary of Zurich Insurance Group, for $3.94 billion in cash. The deal includes a 10-year strategic partnership allowing Farmers to offer its products on MetLife’s U.S. Group Benefits platform, which serves 3,800 employers and roughly 37 million employees. This transaction aims to enhance MetLife's focus on core strengths following its recent acquisition of Versant Health, positioning the company for growth in employee benefits.
MetLife Foundation has committed $4 million in grants to aid COVID-19 relief efforts for low-income individuals and small businesses in the U.S. This initiative finalizes their total commitment of $25 million to global COVID-19 responses. The funding includes significant allocations to organizations like Breaking Ground and the YMCA of Greater New York to combat homelessness, alongside $1.25 million for food banks in key states. Additionally, a $2 million grant will support minority and women-owned businesses via the Local Initiatives Support Corporation. MetLife is also providing a $10 million loan for affordable housing initiatives.
MetLife, Inc. (NYSE: MET) has declared several preferred stock dividends, effective December 15, 2020, for shareholders of record as of November 30, 2020. The dividends include:
- $0.25277777 per share for Series A preferred stock.
- $9.66971055 per share for Series C preferred stock.
- $351.5625 per share for Series E preferred stock.
- $296.875 per share for Series F preferred stock.
These offerings reinforce MetLife's commitment to returning value to shareholders.
MetLife's 2020 Pension Risk Transfer Poll reveals that 81% of plan sponsors are unaffected by the pandemic regarding annuity buyouts. The poll shows a strong interest in these transactions, with 51% citing market volatility as a key factor. Despite some financial strains, including 40% borrowing to fund pension deficits, most sponsors plan to act within five years. Nearly 89% of sponsors are leveraging the CARES Act to extend contribution deadlines. The findings indicate a resilient approach to managing defined benefit plans amidst market challenges.
MetLife, Inc. (NYSE: MET) reported third quarter 2020 results with net income of $633 million, down 71% year-over-year, translating to $0.69 per share. Adjusted earnings rose 33% to $1.6 billion, or $1.73 per share. Total revenues decreased 14% to $16.0 billion, driven by a 6% drop in premiums and fees. Book value per share increased by 8% to $76.20. The company's strong financial performance was supported by a rebound in variable investment income and effective expense management. Notably, MetLife resumed share repurchases in this quarter.
MetLife, Inc. (NYSE: MET) has released a financial update video for Q3 2020, presented by CFO John McCallion. The video aims to provide insights into the company's financial performance during the quarter. Investors and stakeholders can access the video on MetLife's official website. MetLife operates globally, providing various financial services including insurance and asset management, serving numerous markets worldwide.
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