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.
AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to MetLife, Inc.'s newly issued $500 million, 5.300% senior unsecured notes due Dec. 15, 2034. The outlook for this rating is stable, and all other ratings for MetLife and its subsidiaries remain unchanged.
The raised funds are intended for general corporate purposes, potentially including the redemption, repurchase, or repayment at maturity of MetLife’s senior notes due in 2025. MetLife’s proforma adjusted financial leverage and historical interest coverage align with its current ratings, showcasing strong holding company liquidity.
This rating was published on AM Best’s website. For detailed rating information and disclosures, refer to AM Best’s Recent Rating Activity web page.
Micruity and MetLife have deepened their collaboration to enhance access to retirement income solutions.
The collaboration focuses on MetLife's Universal Digital Retirement Platform, which integrates education, planning, and annuity purchasing tools with existing employment benefit systems.
According to a MetLife poll, 91% of plan sponsors worry about retirees running out of money. The new platform aims to address this by offering educational resources and immediate income annuities within defined contribution plans.
This move is part of Micruity's mission to provide simple, accessible retirement income solutions, leveraging their flexible infrastructure.
MetLife, with over 40 years in the annuities market, aims to streamline and simplify lifetime income solutions for plan sponsors.
MetLife Foundation has announced the second round of its Community Impact Grant Program for 2024, building on its earlier expansion and international launch in Asia Pacific. In the first round, $805,000 in grants was awarded to 47 organizations. The new round targets grassroots organizations in five U.S. cities addressing low-income community needs. Grants range from $5,000 to $50,000 and focus on hunger relief, physical and mental well-being, environmental sustainability, and quality of life. Applications are due by July 17, 2024, with decisions announced in September 2024.
MetLife announced an agreement with 3M to provide annuity benefits to about 23,000 retirees and beneficiaries under 3M's U.S. defined benefit pension plan. This arrangement covers approximately $2.5 billion in pension obligations. MetLife's subsidiary, Metropolitan Tower Life Insurance Company, will handle the annuity benefits, ensuring guaranteed lifetime income without altering the current pension benefit amounts. Retirees and beneficiaries do not need to take any action as Metropolitan Tower Life will directly manage the payments, beginning from June 2024.
MetLife (NYSE: MET) has appointed Shurawl Sibblies as Executive Vice President and Chief Human Resources Officer, effective August 1, 2024. Reporting directly to CEO Michel Khalaf, Sibblies will be part of the Executive Leadership Team, tasked with enhancing MetLife's inclusive and purpose-driven culture. Prior to this, she held a significant role at American Express and has previous experience with MetLife. Sibblies brings a robust background in human resources, finance, and product management from companies like TIAA, Citigroup, and Hewlett-Packard. She holds degrees from the University of Albany, Northwestern University, and the University of Rochester.
MetLife has introduced My Leave Navigator, a new digital tool designed to assist employees in managing their leave. This addition to the MyBenefits suite aims to simplify the leave process from planning to claim submission and return-to-work. The tool offers pre-leave guidance, intuitive intake experiences, and real-time updates to help employees manage their leave for various reasons, such as family care or illness recovery. My Leave Navigator also integrates with employer-sponsored programs like FMLA and PFML. This launch follows MetLife's research indicating that improved employee care during key life moments can boost business outcomes. The tool aims to enhance employee confidence in understanding and utilizing their benefits.
MetLife (NYSE: MET) has announced an investor conference scheduled for December 12, 2024, in New York City. The conference will feature presentations from the company's senior management team, offering insights into MetLife's strategic direction and financial performance. Additional details will be made available as the date approaches.
Bridge II Sports celebrates the 12th year of Valor Games Southeast, an adapted sports event for Veterans with disabilities, with the support of presenting sponsor MetLife. The event features 11 competition sports, closing ceremonies at MetLife Global Technology Hub, and aims to provide healing and recovery for over 1,000 Veterans. MetLife, in its ninth year as the presenting sponsor, has contributed financially and through volunteer hours to support this life-changing event.
MetLife CFO John McCallion has released a first quarter 2024 financial update video, highlighting the company's performance and strategic outlook. MetLife, Inc. is a prominent financial services firm offering insurance, annuities, and investment management solutions globally.
MetLife, Inc. (MET) has announced a new $3 billion share repurchase authorization, in addition to the $600 million remaining from the prior authorization. This move, along with a recent common stock dividend increase, reflects the company's commitment to returning capital to shareholders while ensuring responsible growth. MetLife aims to deploy capital strategically to drive long-term shareholder value.
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