MetLife Stock Price, News & Analysis

MetLife Foundation has announced the second round of its 2024 Community Impact Grant Program, expanding its international reach to the Asia Pacific. In the first round, 47 organizations received grants totaling $805,000. The new RFP invites grassroots organizations from Dallas, TX; Greenville, SC; Kansas City, KS; Kansas City, MO; and Newark, NJ to apply for funding. Grants ranging from $5,000 to $50,000 will support efforts in 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 has published its 2023 Sustainability Report, showcasing significant achievements in alignment with its purpose of 'Always with you, building a more confident future.' The company exceeded its commitment to invest $1 billion in initiatives advancing diversity by achieving $1.4 billion between 2021 and 2023, well ahead of its 2030 target. Additionally, MetLife reported over $58.5 billion in responsible investments and surpassed $1 billion in contributions through the MetLife Foundation to support inclusive economic mobility and underserved communities. The report also highlighted MetLife's efforts in reducing emissions, enhancing energy efficiency, and promoting volunteerism, with over 144,000 volunteer hours completed globally in 2023. For more details, visit metlife.com/sustainability/.

MetLife Worldwide Benefits and GeoBlue have launched Globaline™, a comprehensive expatriate benefit solution. This single-solution package integrates GeoBlue's health coverage services, including medical, dental, vision, and wellness programs, with MetLife's life, accidental death & dismemberment, and long-term disability insurance. Available for quotes for groups with effective or renewal dates starting January 1, 2025, Globaline™ aims to simplify administration with a single proposal and point of contact. The collaboration seeks to offer a seamless and superior benefits experience for globally mobile employees.

MetLife (NYSE: MET) has released its 2023 Sustainability Report, highlighting its efforts to promote long-term value through responsible business practices. Key achievements include $1.4 billion in diversity-focused investments, $58.5 billion in responsible investments, and exceeding $1 billion in philanthropic contributions by the MetLife Foundation. The report also details efforts to reduce emissions and enhance energy efficiency, as well as MetLife employees' contribution of over 144,000 volunteer hours in 2023. CEO Michel Khalaf emphasized the company's commitment to sustainability to better serve stakeholders and align with the UN's Sustainable Development Goals.

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.