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. provides insurance, annuities, employee benefits and asset management through subsidiaries and affiliates serving individual and institutional customers. Founded in 1868, the company operates in more than 40 markets and reports activity across the United States, Asia, Latin America, Europe and the Middle East.
Company updates commonly cover quarterly results, net investment income, variable investment income, financial supplements, capital deployment and dividends. News also includes developments at MetLife Investment Management, including private fixed income origination and PineBridge Investments, as well as employee-benefits research and shareholder communications such as responses to unsolicited mini-tender offers.
MetLife Investment Management (MIM) has announced a definitive agreement to acquire three investment teams and assets from Mesirow, encompassing high yield and bank loan, strategic fixed income, and small-cap equity teams. The transaction will transfer approximately $6 billion of managed assets to MIM, subject to approvals and consents.
The acquisition aligns with MetLife's New Frontier strategy to accelerate growth in asset management and expands MIM's offerings and channels with higher yield capabilities. About 20 investment professionals from the acquired teams are expected to join MIM. The move will enhance MIM's leveraged finance platform, adding opportunistic high yield and bank loan strategies that complement their current offering, including strategies from the recently announced PineBridge Investments acquisition.
MIM, a top 25 institutional investment manager globally, currently manages $609.3 billion in total assets as of September 30, 2024.
MetLife (NYSE: MET) has announced its board of directors' declaration of a first quarter 2025 common stock dividend of $0.545 per share. The dividend will be paid on March 11, 2025, to shareholders of record as of February 4, 2025. MetLife, established in 1868, operates in over 40 global markets, providing insurance, annuities, employee benefits, and asset management services to help individual and institutional customers build their financial future.
MetLife Investment Management (MIM) has announced a definitive agreement to acquire PineBridge Investments, a global asset manager with approximately $100 billion in assets under management. The transaction is valued at up to $1.2 billion, comprising $800 million in cash at closing, $200 million tied to 2025 financial metrics, and $200 million subject to a multi-year earnout.
The acquisition, expected to close in 2025, will increase MIM's total assets under management to over $700 billion. The deal excludes PineBridge's private equity funds group and China joint venture. This strategic move aligns with MetLife's New Frontier strategy to accelerate asset management growth, expanding MIM's global footprint with more than half of the acquired client assets held by investors outside the U.S., and about one-third in Asia.
MetLife (NYSE: MET) has announced the appointment of Nick Nadgauda as Executive Vice President and Chief Information Officer, effective March 10, 2025. Reporting to Bill Pappas, EVP and Head of Global Technology and Operations, Nadgauda will oversee application development, infrastructure, enterprise platforms, and architecture teams.
Nadgauda joins from Citi, where he spent 20 years, most recently leading a global team of 15,000 as CIO of Citi Services. He brings experience in payment processing, global custody, and liquidity management across 90 countries. In his new role, he will also lead MetLife's partnership with NC TECH around the Center for Technology Workforce Innovation, supporting MetLife's Global Technology Hub in Cary, NC, which employs 2,600 people.
MetLife (NYSE: MET) unveiled its new five-year 'New Frontier' growth strategy at its 2024 Investor Day, building upon the success of its previous 'Next Horizon' strategy. The company outlined ambitious financial commitments, including double-digit adjusted earnings per share growth and a 15-17% adjusted return on equity.
The strategy focuses on four key growth areas: expanding Group Benefits leadership, capitalizing on retirement platforms in the U.S. and Japan, accelerating asset management growth, and expanding in high-growth international markets, particularly in Latin America and Asia. MetLife also targets a 100-basis-point reduction in direct expense ratio and projects free cash flow of $25 billion.
MetLife and General Atlantic have announced the formation of Chariot Reinsurance, (Chariot Re), a Bermuda-based life and annuity reinsurance company set to launch in the first half of 2025. Chariot Re will have an initial equity investment of over $1 billion. MetLife and General Atlantic will each own approximately 15% of Chariot Re's equity, with the remaining held by third-party stakeholders, including Chubb. MetLife plans to initially reinsure around $10 billion in liabilities to Chariot Re, comprising structured settlement annuity contracts and group annuity contracts associated with pension risk transfers. The transaction is subject to regulatory approvals and final equity raised. MetLife will continue handling all customer-related functions, and MetLife Investment Management alongside General Atlantic will provide asset management services to Chariot Re. Cynthia Smith is expected to lead Chariot Re as CEO, with Toby Srihiran Brown and Graves Tompkins representing MetLife and General Atlantic on the board, respectively.
MetLife Investment Management (MIM) has been recognized as a '2024 Best Place to Work in Money Management' by Pensions & Investments for the fourth consecutive year. The recognition was based on a comprehensive two-part survey conducted by Best Companies Group, evaluating company policies, programs, and employee feedback.
MIM provides employees with holistic wellness resources covering mental, physical, social, and financial well-being, along with comprehensive benefits. The company maintains a strong commitment to diversity through its Diversity, Equity and Inclusion Council and inclusion networks.
As a top 25 institutional investment manager globally, MIM leads in private fixed income asset management for third-party insurance accounts and ranks as the largest infrastructure debt investment manager worldwide, as well as the largest real estate investment manager.
MetLife has announced a strategic partnership with Workday as one of its inaugural Workday Wellness partners. This collaboration aims to enhance employer benefit programs through AI-powered solutions. Workday Wellness will connect employers with top benefit providers and provide insights into employee benefit preferences and usage patterns.
The partnership will help employers optimize their benefits portfolios and better understand program impact across their workforce. As the largest U.S. Group Benefits carrier, MetLife's participation will combine its robust portfolio with Workday's AI capabilities to provide comprehensive program insights.
The collaboration will simplify administrative tasks and enable MetLife to evolve its products based on employee needs. Additional details about the partnership will be shared in 2025.
MetLife (NYSE: MET) has announced its upcoming Investor Day scheduled for Thursday, December 12, 2024, at 8:30 a.m. (ET) in New York City. The event will feature presentations from MetLife's executive leadership team introducing the company's New Frontier strategy.
The presentation will cover the company's business operations, financial results, and future performance projections. Interested parties can access the live webcast and presentation materials at metlife.com/InvestorDay2024. Attendees are advised to register 15 minutes before the event starts. A replay will be available on the same website shortly after the event concludes.
MetLife Investment Management (MIM) has appointed Kerry O'Brien as global head of Insurance Asset Management and Liability Solutions. O'Brien will oversee investment strategies for MetLife's $414.1 billion general account and third-party insurance clients. She joins from Insight Investments and brings extensive experience from previous roles at AIG.
MIM, ranking among the top 25 global institutional investment managers, is the largest infrastructure debt investment manager worldwide and leads in real estate investment management. The firm manages $609.3 billion in total assets as of September 30, 2024, leveraging nearly 150 years of investment experience.